STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics, a global leader in semiconductors, announced details of its common share repurchase program. From May 27 to May 31, 2024, the company repurchased 208,738 ordinary shares, representing 0.02% of its issued share capital, at an average price of EUR 37.919 per share, totaling EUR 7,915,144.16. These transactions aim to meet obligations arising from debt financial instruments exchangeable into equity instruments. Following these buybacks, STMicroelectronics now holds 12,051,110 treasury shares, approximately 1.3% of its issued share capital. The full breakdown of individual trades is available on the STMicroelectronics website.

Positive

• Repurchased 208,738 shares, representing 0.02% of issued share capital.
• Total repurchase cost was EUR 7,915,144.16.
• Average purchase price per share was EUR 37.919.
• Purpose of repurchase is to meet obligations from debt financial instruments exchangeable into equity.
• Following the repurchase, the company holds 12,051,110 treasury shares, 1.3% of issued share capital.

Negative

• No immediate effect on shareholder value from repurchase program.
• Average repurchase price of EUR 37.919 per share may not reflect future market conditions.
• Holding 1.3% of issued share capital in treasury shares might not be the most efficient use of capital.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from May 27, 2024 to May 31, 2024

AMSTERDAM – June 03, 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 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 May 27, 2024 to May 31, 2024 (the “Period”), of 208,738 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 37.9190 and for an overall price of EUR 7,915,144.16.

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)
27-May-24	35,000	38.2998	1,340,493.00	XPAR
28-May-24	45,000	38.4132	1,728,594.00	XPAR
29-May-24	61,577	37.6374	2,317,598.18	XPAR
30-May-24	30,000	37.5831	1,127,493.00	XPAR
31-May-24	37,161	37.6999	1,400,965.98	XPAR
Total for Period	208,738	37.9190	7,915,144.16

Following the share buybacks detailed above, the Company holds in total 12,051,110 treasury shares, which represents approximately 1.3% 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

• C3263C -- June 3 2024 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the stock symbol for STMicroelectronics?

The stock symbol for STMicroelectronics is STM.

How many shares did STMicroelectronics repurchase from May 27 to May 31, 2024?

STMicroelectronics repurchased 208,738 ordinary shares from May 27 to May 31, 2024.

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

The average purchase price per share was EUR 37.919.

What is the purpose of STMicroelectronics' share repurchase program?

The purpose is to meet obligations from debt financial instruments exchangeable into equity instruments.

As of June 3, 2024, how many treasury shares does STMicroelectronics hold?

As of June 3, 2024, STMicroelectronics holds 12,051,110 treasury shares.