Business Context and Reporting Period
This Form 6-K filing by STMicroelectronics N.V. (STM) is dated February 27, 2023. The document discloses transactions in the company's own shares conducted between February 20, 2023, and February 24, 2023, as part of a previously announced share repurchase program approved by shareholders on May 27, 2021.
Key Financial Metrics
The filing focuses exclusively on share repurchase activity and does not report revenue, profit, cash flow, margins, debt, or liquidity metrics for the period.
- Shares Repurchased: 141,913 ordinary shares (0.02% of issued share capital).
- Total Cost: EUR 6,405,171.53.
- Weighted Average Price: EUR 45.1345 per share.
- Trading Venue: Euronext Paris (XPAR).
- Treasury Shares Held: 8,666,660 shares (approximately 1.0% of issued share capital) following these transactions.
Material Changes
The filing does not provide comparative financial data or material changes in operating performance versus prior periods. The primary change reported is the increase in treasury shares held by the company following the specific buyback transactions detailed in the table below.
| Date | Shares Purchased | Avg Price (EUR) | Total Amount (EUR) |
|---|---|---|---|
| 2/20/2023 | 27,988 | 45.5290 | 1,274,265.65 |
| 2/21/2023 | 28,365 | 45.0587 | 1,278,090.03 |
| 2/22/2023 | 28,773 | 44.4815 | 1,279,866.20 |
| 2/23/2023 | 28,237 | 45.5041 | 1,284,899.27 |
| 2/24/2023 | 28,550 | 45.1156 | 1,288,050.38 |
Guidance, Outlook, and Risks
Purpose of Repurchase: The transactions were executed to meet obligations arising from share option programs or other share allocations to employees and management bodies. Shares may be held in treasury for this purpose or used for other lawful purposes under the Market Abuse Regulation.
Company Outlook: The filing reiterates STMicroelectronics' commitment to becoming carbon neutral by 2027 and highlights its role as an integrated device manufacturer serving over 200,000 customers in mobility, power management, and IoT sectors.
Risks and Contingencies: No specific financial risks or contingencies are detailed in this filing beyond standard regulatory compliance disclosures regarding the Market Abuse Regulation.
Investor Verification Checklist
- Verify the total number of treasury shares held (8,666,660) against the company's latest quarterly or annual report to confirm the 1.0% ownership stake.
- Confirm the remaining authorization limit of the share buyback program approved in May 2021 to assess future repurchase capacity.
- Review the detailed trade breakdown on the company's investor website (investors.st.com) for granular transaction data.
- Check subsequent filings for updates on the utilization of treasury shares for employee compensation programs.