Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 200

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 200
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 holders of record of our ordinary shares, of which 8 were registered with
addresses in the United States. Such U. S. record holders were, as of such date, the holders of record of approximately 70% of our outstanding
ordinary shares. The number of record holders in the United States is not representative of the number of beneficial holders nor is it
representative of where such beneficial holders are resident since many of these ordinary shares were held by brokers or other nominees
(including one U. S. nominee company, CEDE & Co., which held approximately 70% of our outstanding ordinary shares as of such date,
including those held for the benefit of the TASE clearing house as a member of Depository Trust Company).

64

B. RELATED PARTY TRANSACTIONS

Other than executive officer and director compensation, executive
officer employment arrangements, equity-based compensation award agreements with officers and directors, indemnification and exculpation
arrangements with officers and directors, and directors’ and officers’ liability insurance, as discussed elsewhere in this
annual report, from the beginning of 2024 and through the date of the filing of this annual report with the SEC, we have not been
and are not a party to any transactions in which any of our directors, executive officers or holders of 5% or more of our share capital,
or any immediate family member of, or person sharing the household with, any of these individuals or entities, had or will have a direct
or indirect material interest. For additional information, see Note 17 to the consolidated financial statements included herein.

C. INTERESTS OF EXPERTS AND COUNSEL

Not applicable.

ITEM
8. FINANCIAL INFORMATION

A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL
INFORMATION