STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics announced the status of its common share repurchase program for the period from May 13, 2024, to May 17, 2024. During this period, the company repurchased 140,758 ordinary shares at a weighted average price of EUR 38.3516 per share, totaling EUR 5,398,298.87. The repurchase was conducted on the Euronext Paris market to meet obligations arising from debt financial instruments exchangeable into equity. Following these transactions, STMicroelectronics holds 11,643,507 treasury shares, approximately 1.3% of its issued share capital. Full details are available on the STMicroelectronics website.

Positive

• Repurchased 140,758 shares from May 13 to May 17, 2024.
• Weighted average purchase price per share was EUR 38.3516.
• Total repurchase amount was EUR 5,398,298.87.
• Repurchase aimed to meet obligations from debt financial instruments exchangeable into equity.
• Company holds 11,643,507 treasury shares, representing 1.3% of issued share capital.

Negative

• Only 0.02% of issued share capital repurchased, a minimal impact on share float.
• The relatively small repurchase amount may not significantly influence stock price.
• Potential uncertainty if repurchased shares are not used for intended debt obligations.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from May 13, 2024 to May 17, 2024

AMSTERDAM – May 20, 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 13, 2024 to May 17, 2024 (the “Period”), of 140,758 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 38.3516 and for an overall price of EUR 5,398,298.87.

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)
5/13/2024	30,000	37.6724	1,130,172.00	XPAR
5/14/2024	26,647	37.9043	1,010,035.88	XPAR
5/15/2024	19,111	38.4792	735,375.99	XPAR
5/16/2024	30,000	39.1246	1,173,738.00	XPAR
5/17/2024	35,000	38.5422	1,348,977.00	XPAR
Total for Period	140,758	38.3516	5,398,298.87

Following the share buybacks detailed above, the Company holds in total 11,643,507 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

• C3258C -- May 20 2024 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the status of STMicroelectronics' share repurchase program for May 2024?

STMicroelectronics repurchased 140,758 shares for a total of EUR 5,398,298.87 during the period from May 13 to May 17, 2024.

How many shares did STMicroelectronics repurchase in May 2024?

STMicroelectronics repurchased 140,758 shares from May 13 to May 17, 2024.

What was the average purchase price of the shares repurchased by STMicroelectronics in May 2024?

The weighted average purchase price was EUR 38.3516 per share.

What is the purpose of STMicroelectronics' share repurchase program?

The repurchase aims to meet obligations from debt financial instruments exchangeable into equity.

How many treasury shares does STMicroelectronics currently hold?

STMicroelectronics holds 11,643,507 treasury shares, approximately 1.3% of its issued share capital.