STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics (STM) has announced the status of its common share repurchase program for the period from July 8 to July 12, 2024. The company repurchased 238,000 ordinary shares, representing 0.03% of its issued share capital, at a weighted average purchase price of €38.9268 per share. The total cost of the buyback was €9,264,576.38. The primary purpose of these transactions is to meet obligations arising from debt financial instruments exchangeable into equity instruments. Following these buybacks, STMicroelectronics now holds 8,512,817 treasury shares, approximately 0.9% of its issued share capital.

Positive

• Repurchased 238,000 shares, potentially increasing shareholder value
• Buyback program demonstrates confidence in company's financial position
• Treasury shares can be used for debt obligations or other lawful purposes

Negative

• Spent €9,264,576.38 on share repurchases, reducing available cash

Disclosure of Transactions in Own Shares – Period from Jul 08, 2024 to Jul 12, 2024

AMSTERDAM – July 15, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated June 21, 2024. The Program was approved by a shareholder resolution dated May 22, 2024 and by the supervisory board.

STMicroelectronics N.V. (registered with the trade register under number 33194537) (LEI: 213800Z8NOHIKRI42W10) announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between Jul 08, 2024 to Jul 12, 2024 (the “Period”), of 238,000 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 38.9268 and for an overall price of EUR 9,264,576.38.

The purpose of these transactions under article 5(2) of Regulation (EU) 596/2014 (the Market Abuse Regulation) was to meet obligations arising from debt financial instruments that are exchangeable into equity instruments.

The shares may be held in treasury prior to being used for such purpose and, to the extent that they are not ultimately needed for such purpose, they may be used for any other lawful purpose under article 5(2) of the Market Abuse Regulation.

Below is a summary of the repurchase transactions made in the course of the Period in relation to the ordinary shares of STMicroelectronics (ISIN: NL0000226223), in detailed form.

Transactions in Period

Dates of transaction	Number of shares purchased	Weighted average purchase price per share (EUR)	Total amount paid (EUR)	Market on which the shares were bought (MIC code)
7/8/2024	62,000	39.0375	2,420,325.00	XPAR
7/9/2024	45,230	38.7807	1,754,051.06	XPAR
7/10/2024	47,870	38.6711	1,851,185.56	XPAR
7/11/2024	40,000	39.2504	1,570,016.00	XPAR
7/12/2024	42,900	38.9044	1,668,998.76	XPAR
Total for Period	238,000	38.9268	9,264,576.38

Following the share buybacks detailed above, the Company holds in total 8,512,817 treasury shares, which represents approximately 0.9% of the Company’s issued share capital.

In accordance with Article 5(1)(b) of the Market Abuse Regulation and Article 2(3) of Commission Delegated Regulation (EU) 2016/1052, a full breakdown of the individual trades in the Program are disclosed on the ST website (https://investors.st.com/stock-and-bond-information/share-buyback).

About STMicroelectronics

At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.

For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel : +41.22.929.58.12
celine.berthier@st.com

MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33.6.59.16.79.08
alexis.breton@st.com

Attachment

• C3271C 15 Jul 2024 -- Disclosure of transactions in Own Shares PR -- FINAL FOR PUBLICATION

FAQ

How many shares did STMicroelectronics (STM) repurchase from July 8 to July 12, 2024?

STMicroelectronics repurchased 238,000 ordinary shares during the period from July 8 to July 12, 2024.

What was the average purchase price per share for STM's buyback program in July 2024?

The weighted average purchase price per share for STMicroelectronics' buyback program was €38.9268.

What is the main purpose of STMicroelectronics' (STM) share repurchase program?

The main purpose is to meet obligations arising from debt financial instruments that are exchangeable into equity instruments.

How many treasury shares does STMicroelectronics (STM) hold after the July 2024 buybacks?

After the July 2024 buybacks, STMicroelectronics holds 8,512,817 treasury shares, approximately 0.9% of its issued share capital.