STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has announced the details of its common share repurchase program for the period between February 27, 2023, and March 3, 2023. During this time, the company repurchased 142,787 ordinary shares at a weighted average price of EUR 45.0676 per share, totaling EUR 6,435,060.65. This repurchase is intended to meet obligations from employee share option programs and may also serve other lawful purposes if not needed for this. Post-repurchase, STMicroelectronics holds 8,808,495 treasury shares, representing approximately 1.0% of its issued share capital.

Positive

• Demonstrates commitment to returning value to shareholders through share repurchase.
• Reduces total shares outstanding, potentially increasing EPS.

Negative

• Repurchase amount could signify opportunity costs for reinvestment in growth initiatives.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Feb 27, 2023 to Mar 03, 2023

AMSTERDAM – March 6, 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) (Ticker: “STM”) announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between Feb 27, 2023 to Mar 03, 2023 (the “Period”), of 142,787 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 45.0676 and for an overall price of EUR 6,435,060.65.

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 STM (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)
27-Feb-23	28,432	45.4966	1,293,559.33	XPAR
28-Feb-23	28,347	45.4467	1,288,277.60	XPAR
1-Mar-23	27,907	45.9641	1,282,720.14	XPAR
2-Mar-23	29,670	43.2546	1,283,363.98	XPAR
3-Mar-23	28,431	45.2724	1,287,139.60	XPAR
Total for Period	142,787	45.0676	6,435,060.65

Following the share buybacks detailed above, the Company holds in total 8,808,495 treasury shares, which represents approximately 1.0% 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

• C3162C -- Mar 6 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the purpose of STMicroelectronics' share repurchase program?

The share repurchase program aims to meet obligations arising from employee share option programs and may serve other lawful purposes if excess shares remain.

How many shares did STM repurchase and for how much?

STM repurchased a total of 142,787 shares for an overall price of EUR 6,435,060.65.

What was the average purchase price per share during the repurchase program?

The weighted average purchase price per share was EUR 45.0676.

What impact does STM's share buyback have on shareholders?

The buyback reduces the number of shares outstanding, which can lead to an increase in earnings per share (EPS), potentially benefiting shareholders.

What is the total number of treasury shares held by STM after the repurchase?

After the repurchase, STM holds a total of 8,808,495 treasury shares, approximately 1.0% of its issued share capital.