STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has disclosed details of its common share repurchase program for the period from June 17, 2024, to June 19, 2024. During this period, the company repurchased 177,666 ordinary shares at an average price of EUR 39.7299 per share, amounting to a total of EUR 7,058,643.66. The repurchase aims to meet obligations related to debt financial instruments that are exchangeable into equity instruments. As a result, the company now holds a total of 8,052,106 treasury shares, representing approximately 0.9% of its issued share capital. Further details of individual trades can be found on the company's website.

Positive

• Repurchase of 177,666 ordinary shares, totaling EUR 7,058,643.66, indicating financial flexibility.
• Holding 8,052,106 treasury shares, representing approximately 0.9% of issued share capital.

Negative

• The repurchased shares represent only 0.02% of issued share capital, which may be seen as minimal impact.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from June 17, 2024 to June 19, 2024

AMSTERDAM – June 24, 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 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) announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between June 17, 2024 to June 19, 2024 (the “Period”), of 177,666 ordinary shares (equal to 0.02% of its issued share capital) at the weighted average purchase price per share of EUR 39.7299 and for an overall price of EUR 7,058,643.66.

The purpose of these transactions under article 5(2) of Regulation (EU) 596/2014 (the Market Abuse Regulation) was to meet obligations arising from debt financial instruments that are exchangeable into equity instruments.

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)
17-Jun-24	40,000	39.8471	1,593,884.00	XPAR
18-Jun-24	80,000	40.0848	3,206,784.00	XPAR
19-Jun-24	57,666	39.1561	2,257,975.66	XPAR
Total for Period	177,666	39.7299	7,058,643.66

Following the share buybacks detailed above, the Company holds in total 8,052,106 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 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
alexis.breton@st.com

Attachment

• C3268C -- June 24 2024 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What did STMicroelectronics announce on June 24, 2024?

STMicroelectronics announced details of its common share repurchase program for the period from June 17 to June 19, 2024.

How many shares did STM repurchase between June 17 and June 19, 2024?

STM repurchased 177,666 ordinary shares during this period.

What was the total cost of the STM share repurchase in June 2024?

The total cost of the share repurchase was EUR 7,058,643.66.

What was the average price per share for STM's repurchase program in June 2024?

The weighted average purchase price per share was EUR 39.7299.

How many treasury shares does STM hold after the June 2024 repurchase?

STM holds a total of 8,052,106 treasury shares after the repurchase.

What percentage of STM's issued share capital do the treasury shares represent as of June 2024?

The treasury shares represent approximately 0.9% of STM's issued share capital.