STMicroelectronics Announces Status of Common Share Repurchase Program
Rhea-AI Summary
STMicroelectronics N.V. (STM) has announced the status of its common share repurchase program for the period from September 30, 2024, to October 4, 2024. The company repurchased 368,300 ordinary shares, equivalent to 0.04% of its issued share capital, at a weighted average purchase price of €26.1864 per share, for a total of €9,644,462.01.
The purpose of these transactions is to meet obligations arising from share option programs or other share allocations to employees or company bodies. The shares may be held in treasury before being used for this purpose or for any other lawful purpose. Following these buybacks, STMicroelectronics now holds 10,103,514 treasury shares, representing approximately 1.1% of its issued share capital.
Positive
- Repurchase of 368,300 shares demonstrates confidence in the company's financial position
- Share buyback program supports employee stock options and incentive plans
- Treasury shares provide flexibility for future corporate actions
Negative
- €9,644,462.01 spent on share repurchases reduces cash available for other investments
- Increase in treasury shares to 1.1% of issued share capital may slightly reduce liquidity
News Market Reaction 1 Alert
On the day this news was published, STM declined 0.88%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
STMicroelectronics Announces Status of
Common Share Repurchase Program
Disclosure of Transactions in Own Shares – Period from Sep 30, 2024 to Oct 04, 2024
AMSTERDAM – October 7, 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 June 21, 2024. The Program was approved by a shareholder resolution dated May 22, 2024 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 Sep 30, 2024 to Oct 04, 2024 (the “Period”), of 368,300 ordinary shares (equal to
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) |
| 9/30/2024 | 90,000 | 26.8326 | 2,414,934.00 | XPAR |
| 10/1/2024 | 68,900 | 26.3821 | 1,817,726.69 | XPAR |
| 10/2/2024 | 67,400 | 26.0303 | 1,754,442.22 | XPAR |
| 10/3/2024 | 71,000 | 25.7307 | 1,826,879.70 | XPAR |
| 10/4/2024 | 71,000 | 25.7814 | 1,830,479.40 | XPAR |
| Total for Period | 368,300 | 26.1864 | 9,644,462.01 |
Following the share buybacks detailed above, the Company holds in total 10,103,514 treasury shares, which represents approximately
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
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FAQ
How many shares did STMicroelectronics (STM) repurchase from September 30 to October 4, 2024?
What was the average purchase price per share for STM's buyback from September 30 to October 4, 2024?
What is the total amount STMicroelectronics (STM) spent on share repurchases from September 30 to October 4, 2024?
What percentage of STMicroelectronics' (STM) issued share capital does the company now hold in treasury shares?
What is the purpose of STMicroelectronics' (STM) share repurchase program?
