STMicroelectronics Updates Share Repurchase Program Status
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STMicroelectronics Announces Status of Common Share Repurchase Program
STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global leader in semiconductor technology, has disclosed full details regarding its common share repurchase program (the “Program”). This program, initially revealed in a prior communication, was approved via a resolution from shareholders and the supervisory board. The current report outlines transactions conducted in a specific period, inviting stakeholders to gain insights into the Company's strategic financial maneuvers.
Common Share Repurchase Program Details
During the recent period of share repurchases, specifically from Aug 19, 2024, to Aug 23, 2024, the Company undertook significant actions. A total of 353,300 ordinary shares were repurchased, equating to approximately 0.04% of the issued share capital. The weighted average purchase price per share during this period was EUR 28.0536, culminating in a total expenditure of EUR 9,911,340.88.
Purpose of the Share Repurchases
These transactions were conducted in accordance with the provisions of Regulation (EU) 596/2014, specifically to fulfill obligations arising from share option programs and other allocations of shares to employees and governing bodies of the Company. Such strategic actions allow STMicroelectronics to engage effectively with shareholder interests while supporting employee incentive programs.
Summary of Recent Transactions
In the outlined period, STMicroelectronics executed individual trades to bolster its shareholdings. The detailed summary of transactions reveals the proactive stance of the Company in managing its capital.
Breakdown of Share Transactions
Here’s an overview of the share transactions made during the specified timeframe:
- Date: Aug 19, 2024 - 71,000 shares at EUR 27.8421
- Date: Aug 20, 2024 - 71,200 shares at EUR 28.1094
- Date: Aug 21, 2024 - 70,000 shares at EUR 28.1432
- Date: Aug 22, 2024 - 70,000 shares at EUR 28.1915
- Date: Aug 23, 2024 - 71,100 shares at EUR 27.985
Following these transactions, STMicroelectronics now holds a total of 9,665,916 treasury shares, representing around 1.1% of its overall issued share capital.
Commitment to Transparency and Compliance
In adherence with the Market Abuse Regulation, STMicroelectronics is committed to maintaining transparency through detailed reporting of its share repurchase activities. Stakeholders can find comprehensive disclosures of individual trades pertaining to the Program on the Company’s official website.
Company Overview
STMicroelectronics is a formidable entity in semiconductor technology, encompassing over 50,000 specialists who work persistently to manage the semiconductor supply chain. As an integrated device manufacturer, the Company collaborates with a vast network of customers and partners to deliver innovative solutions that cater to evolving market demands. The initiative to achieve carbon neutrality by 2027 underscores their commitment to sustainability and corporate responsibility.
Contact Information
For more information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41.22.929.58.12
Email: celine.berthier@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: +33.6.59.16.79.08
Email: alexis.breton@st.com
Frequently Asked Questions
What is the purpose of the common share repurchase program?
The program aims to meet obligations arising from share option programs and other allocations to employees and management, supporting overall financial strategy.
How many shares were repurchased during the specified period?
During the period from Aug 19, 2024, to Aug 23, 2024, a total of 353,300 ordinary shares were repurchased.
What is the average purchase price per share in the recent transactions?
The weighted average purchase price per share in the transactions was EUR 28.0536.
How many treasury shares does STMicroelectronics currently hold?
As of the latest reports, STMicroelectronics holds a total of 9,665,916 treasury shares.
What are the Company’s goals regarding sustainability?
STMicroelectronics is committed to achieving carbon neutrality by 2027, reflecting its dedication to sustainable practices and corporate responsibility.
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