STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics announced details of its common share repurchase program from January 9 to January 13, 2023, acquiring 171,529 shares, which is 0.02% of its issued share capital. The total expenditure was EUR 6,360,559.01, with an average purchase price of EUR 37.0815 per share. The repurchase aims to meet obligations from share option programs for employees and management. Following this period, the company holds 7,787,505 treasury shares, representing 0.9% of its capital. This buyback reflects STMicroelectronics' commitment to enhancing shareholder value and managing its capital structure.

Positive

• Repurchase of 171,529 shares, enhancing shareholder value.
• Total treasury shares increased to 7,787,505, representing 0.9% of issued capital.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Jan 09, 2023 to Jan 13, 2023

AMSTERDAM – January 16, 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) (Ticker: “STM”) announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between Jan 09, 2023 to Jan 13, 2023 (the “Period”), of 171,529 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 37.0815 and for an overall price of EUR 6,360,559.01.

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)
09-Jan-23	35,260	36.3454	1,281,538.80	XPAR
10-Jan-23	34,436	37.0163	1,274,693.31	XPAR
11-Jan-23	34,343	37.0556	1,272,600.47	XPAR
12-Jan-23	33,882	37.5042	1,270,717.30	XPAR
13-Jan-23	33,608	37.5211	1,261,009.13	XPAR
Total for Period	171,529	37.0815	6,360,559.01

Following the share buybacks detailed above, the Company holds in total 7,787,505 treasury shares, which represents approximately 0.9% 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

• C3150C -- Jan 16 2023 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is STMicroelectronics' recent share repurchase program?

STMicroelectronics recently repurchased 171,529 shares between January 9-13, 2023, totaling EUR 6,360,559.01 at an average price of EUR 37.0815 per share.

What is the purpose of STMicroelectronics' share repurchase?

The purpose of the share repurchase is to meet employee obligations arising from share option programs.

How many treasury shares does STMicroelectronics hold after recent repurchases?

After the recent repurchases, STMicroelectronics holds a total of 7,787,505 treasury shares, which is about 0.9% of its issued share capital.

What impact does the share buyback have on STMicroelectronics' stock?

The share buyback is expected to enhance shareholder value by reducing the number of outstanding shares.