STMicroelectronics Announces Status of Common Share Repurchase Program
Rhea-AI Summary
STMicroelectronics has completed a share repurchase program from Nov 18-22, 2024, acquiring 468,800 ordinary shares (0.05% of issued share capital) at a weighted average price of EUR 23.2951 per share, totaling EUR 10.92 million. The buyback aims to meet obligations from share option programs and employee allocations. Following these transactions, STM holds 13,045,041 treasury shares, representing approximately 1.4% of its issued share capital. The purchases were executed on Euronext Paris following shareholder approval from May 22, 2024.
AI-generated analysis. Not financial advice.
Positive
- Strategic share buyback program executed to support employee stock options and share allocations
- Company maintains strong cash position enabling share repurchases
- Treasury shares provide flexibility for future employee compensation programs
Negative
- Cash outflow of EUR 10.92 million reduces available capital for other investments
- Potential dilution when treasury shares are distributed through employee programs
News Market Reaction – STM
On the day this news was published, STM gained 5.19%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
STMicroelectronics Announces Status of
Common Share Repurchase Program
Disclosure of Transactions in Own Shares – Period from Nov 18, 2024 to Nov 22, 2024
AMSTERDAM – November 25, 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 June 21, 2024. The Program was approved by a shareholder resolution dated May 22, 2024 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 Nov 18, 2024 to Nov 22, 2024 (the “Period”), of 468,800 ordinary shares (equal to
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 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) |
| 18-Nov-24 | 106,500 | 23.8398 | 2,538,938.70 | XPAR |
| 19-Nov-24 | 89,500 | 23.2365 | 2,079,666.75 | XPAR |
| 20-Nov-24 | 90,800 | 23.1068 | 2,098,097.44 | XPAR |
| 21-Nov-24 | 91,000 | 22.8518 | 2,079,513.80 | XPAR |
| 22-Nov-24 | 91,000 | 23.3463 | 2,124,513.30 | XPAR |
| Total for Period | 468,800 | 23.2951 | 10,920,729.99 |
Following the share buybacks detailed above, the Company holds in total 13,045,041 treasury shares, which represents approximately
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:
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41.22.929.59.20
jerome.ramel@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: +33.6.59.16.79.08
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