STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics, a global semiconductor company, disclosed the status of its common share repurchase program for the period from May 20 to May 24, 2024. During this time, the company repurchased 198,865 ordinary shares at an average price of EUR 38.3025 per share, totaling EUR 7.62 million. The goal of the share buyback is to fulfill obligations arising from debt financial instruments exchangeable into equity. The shares may be held in treasury or used for other lawful purposes. Post buyback, STMicroelectronics holds 11,842,372 treasury shares, representing 1.3% of its issued share capital.

Positive

• Repurchased 198,865 shares totaling EUR 7.62 million.
• Average purchase price per share: EUR 38.3025.
• Purpose: Fulfill obligations from debt financial instruments exchangeable into equity.
• Post-buyback, holds 11,842,372 treasury shares (1.3% of issued share capital).

Negative

• Repurchased shares only represent 0.02% of issued share capital.
• Significant capital allocation of EUR 7.62 million for repurchase.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from May 20, 2024 to May 24, 2024

AMSTERDAM – May 27, 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 20, 2024 to May 24, 2024 (the “Period”), of 198,865 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 38.3025 and for an overall price of EUR 7,617,019.94.

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)
5/20/2024	30,000	38.3982	1,151,946.00	XPAR
5/21/2024	71,277	37.901	2,701,469.58	XPAR
5/22/2024	17,588	37.4899	659,372.36	XPAR
5/23/2024	50,000	39.006	1,950,300.00	XPAR
5/24/2024	30,000	38.4644	1,153,932.00	XPAR
Total for Period	198,865	38.3025	7,617,019.94

Following the share buybacks detailed above, the Company holds in total 11,842,372 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

• C3261C -- May 27 2024 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the status of STMicroelectronics' share repurchase program?

STMicroelectronics repurchased 198,865 shares between May 20-24, 2024, at an average price of EUR 38.3025 per share, totaling EUR 7.62 million.

How many shares did STMicroelectronics repurchase in May 2024?

STMicroelectronics repurchased 198,865 shares from May 20 to May 24, 2024.

What was the purpose of the STM share repurchase program?

The purpose was to meet obligations from debt financial instruments that are exchangeable into equity.

How many treasury shares does STMicroelectronics hold after the May 2024 repurchase?

After the repurchase, STMicroelectronics holds 11,842,372 treasury shares.

What percentage of STMicroelectronics' issued share capital do the repurchased shares represent?

The repurchased shares represent approximately 0.02% of the issued share capital.

What is the average purchase price per share for STM's buyback?

The average purchase price per share was EUR 38.3025.

What is the total expenditure of STM's share buyback from May 20-24, 2024?

The total expenditure was EUR 7,617,019.94.