STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics N.V. (STMicroelectronics) announces the full details of its common share repurchase program, disclosing transactions in own shares from Dec 04, 2023 to Dec 08, 2023. The company repurchased 209,674 ordinary shares at a weighted average purchase price per share of EUR 44.0067, amounting to EUR 9,227,054.75. The purpose of the transactions was to meet obligations arising from debt financial instruments that are exchangeable into equity instruments. STMicroelectronics now holds a total of 8,223,718 treasury shares, representing approximately 0.9% of the Company’s issued share capital.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Dec 04, 2023 to Dec 08, 2023

AMSTERDAM – December 11, 2023 -- 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 July 1, 2021. The Program was approved by a shareholder resolution dated May 27, 2021 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 Dec 04, 2023 to Dec 08, 2023 (the “Period”), of 209,674 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 44.0067 and for an overall price of EUR 9,227,054.75.

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)
4-Dec-23	55,000	43.5634	2,395,987.00	XPAR
5-Dec-23	40,000	44.0595	1,762,380.00	XPAR
6-Dec-23	25,000	44.5247	1,113,117.50	XPAR
7-Dec-23	57,629	43.9599	2,533,365.08	XPAR
8-Dec-23	32,045	44.3815	1,422,205.17	XPAR
Total for Period	209,674	44.0067	9,227,054.75

Following the share buybacks detailed above, the Company holds in total 8,223,718 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

• C3219C -- Dec 11 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the company name and ticker symbol of the STMicroelectronics?

STMicroelectronics N.V. (STMicroelectronics) is the company name and the ticker symbol is not provided in the press release.

What is the purpose of the share repurchase program disclosed by STMicroelectronics?

The purpose of the share repurchase program was to meet obligations arising from debt financial instruments that are exchangeable into equity instruments.

How many ordinary shares did STMicroelectronics repurchase during the specified period?

STMicroelectronics repurchased 209,674 ordinary shares during the period from Dec 04, 2023 to Dec 08, 2023.

What is the total amount paid by STMicroelectronics for the repurchased shares?

STMicroelectronics paid a total amount of EUR 9,227,054.75 for the repurchased shares.

What percentage of the Company’s issued share capital do the treasury shares held by STMicroelectronics represent?

The treasury shares held by STMicroelectronics represent approximately 0.9% of the Company’s issued share capital.