STMicroelectronics Shares Update on Repurchase Program
STMicroelectronics N.V. (referred to as the “Company” or “STMicroelectronics”), a leading name in semiconductor technology, has provided comprehensive details about its common share repurchase program (the “Program”). Initially announced in a previous communication, this program received approval from shareholders and the supervisory board. The current report highlights transactions conducted during a specific timeframe, offering stakeholders valuable insights into the Company's strategic financial activities.
Details of the Common Share Repurchase Program
In the recent share repurchase period, from Aug 19, 2024, to Aug 23, 2024, the Company engaged in noteworthy actions. A total of 353,300 ordinary shares were repurchased, which represents approximately 0.04% of the total issued share capital. The weighted average purchase price per share during this period was EUR 28.0536, leading to a total expenditure of EUR 9,911,340.88.
Reasons Behind the Share Repurchases
These transactions were carried out in compliance with Regulation (EU) 596/2014, aimed at fulfilling obligations linked to share option programs and other share allocations to employees and governing bodies of the Company. Such strategic moves enable STMicroelectronics to effectively align with shareholder interests while also supporting employee incentive programs.
Overview of Recent Transactions
During the specified timeframe, STMicroelectronics executed individual trades to enhance its shareholdings. The detailed summary of these transactions illustrates the proactive approach the Company is taking in managing its capital.
Summary of Share Transactions
Below is a breakdown of the share transactions completed during the specified period:
- 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
As a result of these transactions, STMicroelectronics now holds a total of 9,665,916 treasury shares, which accounts for approximately 1.1% of its total issued share capital.
Commitment to Transparency and Compliance
In line with the Market Abuse Regulation, STMicroelectronics is dedicated to maintaining transparency through thorough reporting of its share repurchase activities. Stakeholders can access detailed disclosures of individual trades related to the Program on the Company’s official website.
About the Company
STMicroelectronics is a prominent player in semiconductor technology, employing over 50,000 specialists who work tirelessly to manage the semiconductor supply chain. As an integrated device manufacturer, the Company collaborates with an extensive network of customers and partners to deliver innovative solutions that meet evolving market demands. Their initiative to achieve carbon neutrality by 2027 highlights their commitment to sustainability and corporate responsibility.
Contact Information
For further inquiries, please reach out to:
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 is designed to meet obligations arising from share option programs and other allocations to employees and management, thereby supporting the overall financial strategy.
How many shares were repurchased during the specified period?
In the timeframe from Aug 19, 2024, to Aug 23, 2024, a total of 353,300 ordinary shares were repurchased.
What was the average purchase price per share in the recent transactions?
The weighted average purchase price per share in these transactions was EUR 28.0536.
How many treasury shares does STMicroelectronics currently hold?
As per the latest reports, STMicroelectronics holds a total of 9,665,916 treasury shares.
What sustainability goals does the Company have?
STMicroelectronics is committed to achieving carbon neutrality by 2027, demonstrating its dedication to sustainable practices and corporate responsibility.
