STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has reported its share repurchase program details for the period from January 30 to February 3, 2023. During this time, the company bought back 141,926 shares, accounting for 0.02% of its issued share capital, at a total cost of EUR 6,271,163.09 and a weighted average price of EUR 44.1861 per share. The repurchase aims to fulfill obligations related to employee share option programs. Following these transactions, STMicroelectronics holds 8,245,888 treasury shares, approximately 0.9% of its issued capital.

Positive

• Share buyback supports shareholder value and potential EPS increase.
• Repurchase program signifies strong financial health and confidence in future performance.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Jan 30, 2023 to Feb 03, 2023

AMSTERDAM – February 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 Jan 30, 2023 to Feb 03, 2023 (the “Period”), of 141,926 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 44.1861 and for an overall price of EUR 6,271,163.09.

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)
30-Jan-23	28,998	43.4226	1,259,168.55	XPAR
31-Jan-23	29,365	42.9223	1,260,413.34	XPAR
1-Feb-23	28,852	43.5316	1,255,973.72	XPAR
2-Feb-23	27,186	45.7095	1,242,658.47	XPAR
3-Feb-23	27,525	45.5204	1,252,949.01	XPAR
Total for Period	141,926	44.1861	6,271,163.09

Following the share buybacks detailed above, the Company holds in total 8,245,888 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 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

• C3156C -- Feb 6 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What was the purpose of STMicroelectronics' recent share repurchase program?

The purpose was to meet obligations arising from employee share option programs.

How many shares did STMicroelectronics repurchase between January 30 and February 3, 2023?

STMicroelectronics repurchased a total of 141,926 shares.

What was the total cost of the share buyback by STMicroelectronics?

The total amount paid for the buyback was EUR 6,271,163.09.

What impact does the share repurchase have on STMicroelectronics' stock price?

The share repurchase program is expected to enhance shareholder value and may positively influence the stock price.