STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has announced the status of its common share repurchase program for the period from June 3, 2024, to June 7, 2024. The company repurchased 30,678 ordinary shares, representing 0.003% of its issued share capital, at a weighted average price of EUR 40.8306 per share, totaling EUR 1,252,600.16. The repurchases were made to meet obligations arising from debt financial instruments exchangeable into equity and may be held in treasury or used for other lawful purposes. Post-repurchase, STMicroelectronics holds 7,609,566 treasury shares, approximately 0.8% of its issued share capital.

Positive

• Repurchase of 30,678 shares, demonstrating company confidence.
• EUR 1,252,600.16 allocated for share buyback, potentially enhancing shareholder value.
• Maintaining 7,609,566 treasury shares, about 0.8% of issued share capital.

Negative

• Only 0.003% of issued share capital repurchased, minimal impact on stock price.
• Potentially high buyback price of EUR 40.8306 per share.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Jun 03, 2024 to Jun 07, 2024

AMSTERDAM – June 10, 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 Jun 03, 2024 to Jun 07, 2024 (the “Period”), of 30,678 ordinary shares (equal to 0.003% of its issued share capital) at the weighted average purchase price per share of EUR 40.8306 and for an overall price of EUR 1,252,600.16.

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)
6/5/2024	6,724	39.3645	264,686.90	XPAR
6/7/2024	23,954	41.2421	987,913.26	XPAR
Total for Period	30,678	40.8306	1,252,600.16

Following the share buybacks detailed above, the Company holds in total 7,609,566 treasury shares, which represents approximately 0.8% 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

• C3264C -- June 10 2024 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What is the update on STMicroelectronics' share repurchase program as of June 2024?

STMicroelectronics repurchased 30,678 shares between June 3 and June 7, 2024, at an average price of EUR 40.8306 per share.

How many shares did STMicroelectronics repurchase in June 2024?

STMicroelectronics repurchased 30,678 shares in the first week of June 2024.

What was the total amount spent by STMicroelectronics on share buybacks in June 2024?

STMicroelectronics spent EUR 1,252,600.16 on share buybacks in early June 2024.

What percentage of its issued share capital did STMicroelectronics repurchase in June 2024?

STMicroelectronics repurchased 0.003% of its issued share capital in June 2024.

How many treasury shares does STMicroelectronics hold after the June 2024 buyback?

STMicroelectronics holds 7,609,566 treasury shares after the June 2024 buyback.