STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has reported its recent share repurchase activity conducted from March 20 to March 24, 2023. During this period, the company bought back 139,341 ordinary shares, representing 0.02% of its issued share capital, at a weighted average price of EUR 46.0032, totaling EUR 6,410,138.05. This repurchase program, part of a strategy approved on May 27, 2021, aims to fulfill obligations related to share options for employees and management. Following this buyback, the company holds 9,231,238 treasury shares, about 1.0% of its capital.

Positive

• Share buyback of 139,341 shares indicating strong cash management.
• Total shares in treasury now at 9,231,238, enhancing shareholder value.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Mar 20, 2023 to Mar 24, 2023

AMSTERDAM – March 27, 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 Mar 20, 2023 to Mar 24, 2023 (the “Period”), of 139,341 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 46.0032 and for an overall price of EUR 6,410,138.05.

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)
20-Mar-23	28,601	45.1690	1,291,878.57	XPAR
21-Mar-23	27,980	46.0116	1,287,404.57	XPAR
22-Mar-23	27,807	46.1611	1,283,601.71	XPAR
23-Mar-23	27,283	46.5098	1,268,926.87	XPAR
24-Mar-23	27,670	46.1990	1,278,326.33	XPAR
Total for Period	139,341	46.0032	6,410,138.05

Following the share buybacks detailed above, the Company holds in total 9,231,238 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

• C3168C -- Mar 27 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What was the total amount spent on the STM share repurchase from March 20 to March 24, 2023?

STMicroelectronics spent EUR 6,410,138.05 on the share repurchase during this period.

How many shares did STM buy back during the repurchase program in March 2023?

STMicroelectronics bought back a total of 139,341 ordinary shares.

What was the purpose of the share repurchase by STM?

The share repurchase was intended to meet obligations arising from share option programs for employees and management.

What is the current number of treasury shares held by STM after the buyback?

After the buyback, STMicroelectronics holds a total of 9,231,238 treasury shares.

What was the weighted average purchase price per share during STM's buyback?

The weighted average purchase price was EUR 46.0032 per share.