STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics recently announced the completion of its common share repurchase program, detailing transactions from September 5 to September 9, 2022. During this period, 253,062 ordinary shares were bought back, representing 0.03% of issued share capital. The total cost for these repurchases was approximately EUR 8.91 million, with a weighted average purchase price of EUR 35.21 per share. Post-repurchase, the company holds a total of 4.59 million treasury shares, equating to about 0.5% of its issued capital. This initiative underscores STMicroelectronics' commitment to enhancing shareholder value.

Positive

• Share buyback of 253,062 shares emphasizes commitment to shareholder value.
• Total repurchase amount of EUR 8.91 million may uplift stock price through reduced share supply.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Sep 05, 2022 to Sep 09, 2022

AMSTERDAM – September 12, 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 Sep 05, 2022 to Sep 09, 2022 (the “Period”), of 253,062 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 35.2102 and for an overall price of EUR                      8,910,357.05.

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)
05-Sep-22	42,714	34.5223	1,474,585.52	XPAR
06-Sep-22	66,261	34.8329	2,308,062.79	XPAR
07-Sep-22	53,340	34.8382	1,858,269.59	XPAR
08-Sep-22	61,440	35.6942	2,193,051.65	XPAR
09-Sep-22	29,307	36.7280	1,076,387.50	XPAR
Total for Period	253,062	35.2102	8,910,357.05

Following the share buybacks detailed above, the Company holds in total 4,589,337 treasury shares, which represents approximately 0.5% of the Company’s issued share capital.

In accordance with Article 5(1)(b) of Regulation (EU) 596/2014 (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/buyback-program).

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

• C3116C -- Disclosure of transactions in Own Shares PR -- 12 Sep 2022

FAQ

What are the details of STM's recent share repurchase program?

STMicroelectronics repurchased 253,062 shares from September 5 to September 9, 2022, for a total of EUR 8.91 million at an average price of EUR 35.21 per share.

How many treasury shares does STM hold after the buyback?

Following the repurchase, STMicroelectronics holds approximately 4.59 million treasury shares, about 0.5% of its issued share capital.

What is the purpose of STM's share repurchase program?

The share repurchase program aims to enhance shareholder value by reducing the number of shares in circulation.

When was STM's share repurchase program approved?

The share repurchase program was approved by a shareholder resolution on May 27, 2021.

How did the recent buyback affect STM's stock?

The recent purchase of shares may positively impact STM's stock price by reducing the supply of shares available in the market.