STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics announced the details of its common share repurchase program, disclosing transactions from November 7 to 11, 2022. A total of 253,114 shares were repurchased at an average price of EUR 33.0010, totaling EUR 8,353,014.70. This buyback represents 0.03% of the company's issued share capital. The repurchase aims to meet obligations from employee share options and other allocations. Currently, STMicroelectronics holds a total of 6,766,955 treasury shares, approximately 0.7% of its total issued capital.

Positive

• The repurchase program enhances shareholder value by returning capital to investors.
• The strategic buyback may positively impact earnings per share (EPS) in the long term.

Negative

• The total amount of EUR 8,353,014.70 spent on share repurchases could be viewed as a drain on cash reserves.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Nov 07, 2022 to Nov 11, 2022

AMSTERDAM – November 14, 2022 -- 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 Nov 07, 2022 to Nov 11, 2022 (the “Period”), of 253,114 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 33.0010 and for an overall price of EUR 8,353,014.70.

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)
07-Nov-22	89,615	31.9060	2,859,256.19	XPAR
08-Nov-22	86,381	32.8992	2,841,865.80	XPAR
09-Nov-22	26,651	33.3448	888,672.26	XPAR
10-Nov-22	26,355	33.9026	893,503.02	XPAR
11-Nov-22	24,112	36.0699	869,717.43	XPAR
Total for Period	253,114	33.0010	8,353,014.70

Following the share buybacks detailed above, the Company holds in total 6,766,955 treasury shares, which represents approximately 0.7% 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 48,000 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

• C3135C -- Nov 14 2022 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

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

The share repurchase program aims to fulfill obligations related to employee share options and other allocations.

How many shares did STMicroelectronics buy back between November 7 to November 11, 2022?

STMicroelectronics repurchased a total of 253,114 shares during this period.

What was the average purchase price for the shares repurchased by STMicroelectronics?

The weighted average purchase price per share was EUR 33.0010.

What percentage of STMicroelectronics' total issued capital did the recent repurchase represent?

The repurchased shares represented approximately 0.03% of STMicroelectronics' issued share capital.

How many treasury shares does STMicroelectronics hold after the buyback?

After the buyback, STMicroelectronics holds a total of 6,766,955 treasury shares, representing about 0.7% of its issued share capital.