STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics (STM) announced the execution of its common share repurchase program, which was approved by shareholders on May 27, 2021. During the period from August 16 to August 20, 2021, the company repurchased 211,123 shares (0.02% of issued capital) at a weighted average price of EUR 36.0235, totaling EUR 7,605,383.14. Following these transactions, STM holds 8,434,475 treasury shares, representing 0.9% of its issued capital. This buyback aims to enhance shareholder value and reflects the company's commitment to optimizing capital allocation.

Positive

• Repurchased 211,123 shares at a total cost of EUR 7,605,383.14, showing strong capital management.
• Increased treasury shares to 8,434,475, or approximately 0.9% of issued capital, which may enhance shareholder value.

Negative

• None.

PR N°C3028C

STMicroelectronics Announces Status of Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Aug 16, 2021 to Aug 20, 2021

AMSTERDAM – August 23, 2021 -- 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 Aug 16, 2021 to Aug 20, 2021 (the “Period”), of 211,123 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 36.0235 and for an overall price of EUR 7,605,383.14.

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 share purchased	Weighted average purchase price per share (EUR)	Total amount paid (EUR)	Market on which the shares were bought (MIC code)
16-Aug-21	33,000	36.5840	1,207,272.00	XPAR
17-Aug-21	53,000	36.2126	1,919,267.80	XPAR
18-Aug-21	34,636	36.2999	1,257,283.34	XPAR
19-Aug-21	55,487	35.3922	1,963,807.00	XPAR
20-Aug-21	35,000	35.9358	1,257,753.00	XPAR
Total for Period	211,123	36.0235	7,605,383.14

Following the share buybacks detailed above, the Company holds in total 8,434,475 treasury shares, which represents approximately 0.9% 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 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 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 5G technology. 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

• C3028C -ST -- Disclosure of transactions in Own Shares PR -- 23 Aug 2021 FINAL FOR PUBLICATION

FAQ

What is the recent share repurchase program by STMicroelectronics (STM)?

STMicroelectronics announced a share repurchase program where it bought back 211,123 shares between August 16 and August 20, 2021, for a total of EUR 7,605,383.14.

How many shares does STMicroelectronics hold after the buyback?

After the recent buyback, STMicroelectronics holds a total of 8,434,475 treasury shares, representing approximately 0.9% of its issued share capital.

What was the average purchase price per share in STMicroelectronics' buyback program?

The weighted average purchase price per share in the recent buyback by STMicroelectronics was EUR 36.0235.

What is the purpose of STMicroelectronics' share repurchase program?

The purpose of STMicroelectronics' share repurchase program is to enhance shareholder value and optimize capital utilization.

What impact could the share buyback have on STMicroelectronics' stock price?

The share buyback could positively influence STMicroelectronics' stock price by reducing the number of shares outstanding, potentially increasing earnings per share.