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 October 14 to 18, 2024. The company repurchased 369,000 ordinary shares, representing 0.04% of its issued share capital, at a weighted average price of €25.5055 per share for a total of €9,411,525.00. The purpose of these transactions is to meet obligations arising from share option programmes or other share allocations to employees or company bodies. Following these buybacks, STMicroelectronics holds 10,836,614 treasury shares, approximately 1.2% of its issued share capital.
Positive
- Repurchased 369,000 shares, potentially increasing shareholder value
- Total buyback amount of €9,411,525.00, demonstrating financial strength
- Shares may be used for employee stock options, aligning employee interests with shareholders
Negative
- Buyback represents only 0.04% of issued share capital, impact on overall share structure
- Average purchase price of €25.5055 per share may not represent optimal use of capital if stock price declines
News Market Reaction 1 Alert
On the day this news was published, STM declined 2.00%, reflecting a moderate 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 Oct 14, 2024 to Oct 18, 2024
AMSTERDAM – October 21, 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 Oct 14, 2024 to Oct 18, 2024 (the “Period”), of 369,000 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) |
| 14-Oct-24 | 71,000 | 25.6438 | 1,820,709.80 | XPAR |
| 15-Oct-24 | 75,000 | 25.6453 | 1,923,397.50 | XPAR |
| 16-Oct-24 | 84,000 | 25.1238 | 2,110,399.20 | XPAR |
| 17-Oct-24 | 80,000 | 25.4533 | 2,036,264.00 | XPAR |
| 18-Oct-24 | 59,000 | 25.7755 | 1,520,754.50 | XPAR |
| Total for Period | 369,000 | 25.5055 | 9,411,525.00 |
Following the share buybacks detailed above, the Company holds in total 10,836,614 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
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How many treasury shares does STMicroelectronics (STM) hold after the October 14-18, 2024 buyback?
