Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 307

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 307
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ousand time-vested RSUs and97thousand PSUs granted to the CEO, subject also to time-vesting, with33% of such RSUs and PSUs to vest at the end of each year for3 yearsfollowing the grant date. Total compensation value of these RSUs was approximately $7,200and also includes the Minimum Holding requirement defined above;
(ii) approximately6.5thousand time-vested RSUs to the Chairman for a total compensation value of $300, to vest33% at the end of each year for3 yearsfollowing the grant date; and
(iii) approximately2.7thousand time-vested RSUs to each of the seven members of the Board of Directors then serving (other than to the Chairman and the CEO), for an aggregate compensation value of $875, vesting over atwo-yearperiod, with50% vesting on the first anniversary of the date of grant and50% on the second anniversary of the date of grant.
The grants during 2023 and 2022 to the Chairman and the members of the Board also include the BOD Minimum Holding requirement defined above.
(2) RSUs awards
Details Weighted average fair value
─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Outstanding as of beginning of year 1,585,560 $38.10 1,712,996 32.90 2,211,100 24.11
Granted 1,581,492 $31.89 797,241 37.64 612,881 44.99
Converted ( 726,007 $36.52 ( 870,720 27.80 ( 1,068,219 21.99
Forfeited ( 42,910 $36.96 ( 53,957 32.49 ( 42,766 24.24
Outstanding as of end of year (*) 2,398,135 $34.51 1,585,560 38.10 1,712,996 32.90
(*) Include (i)736,014,559,184and595,757PSUs as of December 31, 2024, 2023 and 2022, respectively and (ii)649,249MSUs as of December 31, 2024. The performance goals of736,014PSUs outstanding as of December 31, 2024 were achieved.