STMicroelectronics N.V. (NYSE:STM) shares fell Monday, as the company, a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase 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. announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between Jan 6, 2025 to Jan 10, 2025 of 380,700 ordinary shares (equal to 0.04% of its issued share capital) at the weighted average purchase price per share of EUR 24.8158 and for an overall price of EUR 9,447,378.35.
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.
STM shares dropped 76 cents, or 3.1%, to $23.78.
