STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics announces the details of its common share repurchase program. The company repurchased 247,999 ordinary shares at an average price of EUR 39.7238 per share, totaling EUR 9,851,461.97.

Positive

• STMicroelectronics repurchased 247,999 ordinary shares at an average price of EUR 39.7238 per share.
• The repurchased shares represent 0.03% of the company's issued share capital.
• The total cost of the repurchase was EUR 9,851,461.97.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Oct 16, 2023 to Oct 20, 2023

AMSTERDAM – October 23, 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 Oct 16, 2023 to Oct 20, 2023 (the “Period”), of 247,999 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 39.7238 and for an overall price of EUR 9,851,461.97.

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)
16-Oct-23	35,000	41.1665	1,440,827.50	XPAR
17-Oct-23	51,598	40.4268	2,085,942.03	XPAR
18-Oct-23	52,479	40.0803	2,103,374.06	XPAR
19-Oct-23	53,576	39.3386	2,107,604.83	XPAR
20-Oct-23	55,346	38.1909	2,113,713.55	XPAR
Total for Period	247,999	39.7238	9,851,461.97

Following the share buybacks detailed above, the Company holds in total 7,181,595 treasury shares, which represents approximately 0.8% 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 the Internet of Things and connectivity. 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

• C3209C -- Oct 23 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is STMicroelectronics?

STMicroelectronics is a global semiconductor leader serving customers across the spectrum of electronics applications.

What is the purpose of the share repurchase program?

The purpose of the repurchase program is to meet obligations arising from share option programs or other allocations of shares to employees or members of the company's administrative, management, or supervisory bodies.

How many shares did STMicroelectronics repurchase?

STMicroelectronics repurchased 247,999 ordinary shares.

What was the average price per share for the repurchase?

The average price per share for the repurchase was EUR 39.7238.

What is the total cost of the repurchase?

The total cost of the repurchase was EUR 9,851,461.97.

How many treasury shares does STMicroelectronics hold?

STMicroelectronics holds 7,181,595 treasury shares, which represents approximately 0.8% of the company's issued share capital.