STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics announces updates on its common share repurchase program, active from March 27 to March 29, 2023. The company acquired 84,751 ordinary shares, which is 0.01% of its issued share capital, at a total cost of EUR 3,898,111.60 and an average price of EUR 45.9949 per share. The program aims to fulfill obligations related to employee share options and may also be utilized for other legal purposes. Post-repurchase, STMicroelectronics retains 9,315,989 treasury shares, approximately 1.0% of its capital.

Positive

• Repurchase of 84,751 shares at an average price of EUR 45.9949, demonstrating confidence in value.
• Share buyback improves shareholder value by potentially reducing outstanding shares.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Mar 27, 2023 to Mar 29, 2023

AMSTERDAM – April 3, 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 27, 2023 to Mar 29, 2023 (the “Period”), of 84,751 ordinary shares (equal to 0.01% of its issued share capital) at the weighted average purchase price per share of EUR 45.9949 and for an overall price of EUR 3,898,111.60.

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)
27-Mar-23	27,990	46.0730	1,289,583.27	XPAR
28-Mar-23	28,626	45.0738	1,290,282.60	XPAR
29-Mar-23	28,135	46.8543	1,318,245.73	XPAR
Total for Period	84,751	45.9949	3,898,111.60

Following the share buybacks detailed above, the Company holds in total 9,315,989 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

• C3170C -- Apr 3 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What did STMicroelectronics announce on April 3, 2023?

STMicroelectronics disclosed details of its common share repurchase program, detailing transactions from March 27 to March 29, 2023.

How many shares did STMicroelectronics repurchase during the period?

The company repurchased a total of 84,751 ordinary shares.

What was the total amount paid for the shares repurchased by STMicroelectronics?

STMicroelectronics spent EUR 3,898,111.60 on the repurchased shares.

What is the significance of the share repurchase program for STMicroelectronics?

The program aims to meet obligations from employee share options and may enhance shareholder value by reducing the number of outstanding shares.

What percentage of STMicroelectronics' share capital is held in treasury post-repurchase?

After the repurchase, the company holds approximately 1.0% of its issued share capital in treasury shares.