STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has disclosed the status of its common share repurchase program, revealing the buyback of 240,473 ordinary shares from April 17 to April 21, 2023, totaling approximately EUR 10.75 million. The repurchase aligns with obligations from employee share option programs and is part of a broader strategy approved in May 2021. The shares were acquired at a weighted average price of EUR 44.7033 each, representing 0.03% of the company's issued share capital. Post-buyback, STMicroelectronics holds a total of 9,880,203 treasury shares, equating to around 1.1% of its issued capital. This action aims to enhance shareholder value while addressing equity compensation needs.

Positive

• Share repurchase program enhances shareholder value.
• Significant buyback amount of EUR 10.75 million indicates confidence in future performance.
• Total treasury shares increased to 9,880,203, representing 1.1% of issued capital.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Apr 17, 2023 to Apr 21, 2023

AMSTERDAM – April 24, 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 Apr 17, 2023 to Apr 21, 2023 (the “Period”), of 240,473 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 44.7033 and for an overall price of EUR 10,749,938.71.

The purpose of these transactions under article 5(2) of Regulation (EU) 596/2014 (the Market Abuse Regulation) was to meet obligations arising from share option programmes, or other allocations of shares, to employees or to members of the administrative, management or supervisory bodies of the issuer or of an associate company.

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)
17-Apr-23	34,435	45.8439	1,578,634.70	XPAR
18-Apr-23	49,754	46.0569	2,291,515.00	XPAR
19-Apr-23	50,518	45.3643	2,291,713.71	XPAR
20-Apr-23	52,484	43.6477	2,290,805.89	XPAR
21-Apr-23	53,282	43.1153	2,297,269.41	XPAR
Total for Period	240,473	44.7033	10,749,938.71

Following the share buybacks detailed above, the Company holds in total 9,880,203 treasury shares, which represents approximately 1.1% 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 more than 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 the Internet of Things and connectivity. ST is committed to becoming carbon neutral 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

• C3176C -- Apr 24 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the recent share buyback amount by STMicroelectronics?

STMicroelectronics recently repurchased shares totaling approximately EUR 10.75 million.

How many shares did STMicroelectronics buy back between April 17 and April 21, 2023?

The company bought back 240,473 ordinary shares during this period.

What was the average purchase price per share in STMicroelectronics' recent buyback?

The weighted average purchase price per share was EUR 44.7033.

Why is STMicroelectronics conducting a share repurchase program?

The share repurchase program is aimed at fulfilling obligations from employee share option programs.

What percentage of STMicroelectronics' issued capital is represented by treasury shares after the buyback?

After the buyback, treasury shares represent approximately 1.1% of the company’s issued capital.