Business Context and Reporting Period
This Form 6-K filing by STMicroelectronics N.V. (STM) is dated October 24, 2022. The report discloses transactions in the company's own shares conducted between October 17, 2022, and October 21, 2022, as part of a previously announced share buy-back 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: 304,904 ordinary shares (0.03% of issued share capital).
- Weighted Average Purchase Price: EUR 32.8960 per share.
- Total Amount Paid: EUR 10,030,132.52.
- Trading Venue: Euronext Paris (MIC code: XPAR).
- Treasury Shares Held: 5,898,327 shares (approximately 0.6% of issued share capital) following these transactions.
Material Changes
The filing does not provide comparative financial data or material changes versus prior periods regarding operational performance. The primary change reported is the increase in treasury shares held by the company following the specific repurchase transactions detailed in the table below.
| Date | Shares Purchased | Avg. Price (EUR) | Total Paid (EUR) |
|---|---|---|---|
| 17/10/2022 | 75,154 | 32.4502 | 2,438,762.33 |
| 18/10/2022 | 72,902 | 33.4077 | 2,435,488.15 |
| 19/10/2022 | 39,122 | 32.5289 | 1,272,595.63 |
| 20/10/2022 | 68,162 | 32.9962 | 2,249,086.98 |
| 21/10/2022 | 49,564 | 32.9715 | 1,634,199.43 |
| Total | 304,904 | 32.8960 | 10,030,132.52 |
Guidance, Outlook, and Risks
Purpose of Repurchase: The transactions were executed to meet obligations arising from share option programs or other allocations of shares to employees and management bodies. Shares may be held in treasury for this purpose or used for other lawful purposes if not needed for employee allocations.
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 disclosures regarding the Market Abuse Regulation.
Investor Verification Checklist
- Verify the total number of treasury shares held (5,898,327) against the company's latest quarterly or annual report to confirm the 0.6% ownership stake.
- Confirm the remaining authorization limit for the share buy-back program approved in May 2021 to assess future repurchase capacity.
- Review the full breakdown of individual trades on the ST investor website as referenced in the filing for granular transaction data.
- Check subsequent filings for updates on the utilization of treasury shares for employee option programs.