STMicroelectronics Announces Status of Common Share Repurchase Program

Rhea-AI Summary

STMicroelectronics has announced the results of its common share repurchase program conducted from November 21 to November 25, 2022. During this period, the company repurchased 110,645 shares at an average price of EUR 37.0375, totaling approximately EUR 4.1 million. The repurchase aims to fulfill obligations related to employee share options and is part of a broader buyback initiative approved by shareholders in May 2021. Following these transactions, STMicroelectronics holds 6,991,558 treasury shares, representing about 0.8% of its issued capital.

Positive

• Share repurchase of 110,645 shares boosts shareholder confidence.
• Repurchase supports employee share option obligations, aligning management interests with shareholders.
• Overall buyback reflects strong capital management strategy.

Negative

• None.

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Nov 21, 2022 to Nov 25, 2022

AMSTERDAM – November 28, 2022 -- 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 Nov 21, 2022 to Nov 25, 2022 (the “Period”), of 110,645 ordinary shares (equal to 0.01% of its issued share capital) at the weighted average purchase price per share of EUR 37.0375 and for an overall price of EUR 4,098,009.96.

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)
21-Nov-22	22,593	36.9914	835,746.70	XPAR
22-Nov-22	22,610	36.7244	830,338.68	XPAR
23-Nov-22	22,216	36.8883	819,510.47	XPAR
24-Nov-22	21,646	37.3677	808,861.23	XPAR
25-Nov-22	21,580	37.2360	803,552.88	XPAR
Total for Period	110,645	37.0375	4,098,009.96

Following the share buybacks detailed above, the Company holds in total 6,991,558 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 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

• C3138C -- Nov 28 2022 -- Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

FAQ

What was the total amount spent on the share repurchase program by STM in November 2022?

STMicroelectronics spent approximately EUR 4,098,009.96 on the share repurchase program from November 21 to November 25, 2022.

How many shares did STM repurchase during the specified period?

During the period from November 21 to November 25, 2022, STM repurchased a total of 110,645 ordinary shares.

What was the average purchase price per share for STM's repurchase program?

The weighted average purchase price per share for STM's repurchase program was EUR 37.0375.

What is the purpose of STM's share repurchase program?

The share repurchase program is meant to meet obligations arising from employee share option programs or allocations of shares.

How many treasury shares does STM hold after the buyback?

After the buyback, STM holds a total of 6,991,558 treasury shares, which is approximately 0.8% of its issued share capital.