STMicroelectronics N.V. (ENXTPA:STM) announces a share repurchase program. Under the program, the company will repurchase up to $989 million worth of its common stock. The price paid for any share purchased pursuant to the repurchase program shall be subject to a minimum of ?1.04 per share and a maximum of 110% of the average of the highest price at which the shares are quoted on each of the five trading days prior to the date of the relevant purchase, on each of the regulated market of Euronext Paris, the Borsa Italiana S.p.A. and New York Stock Exchange.

The shares purchased under the program will be held as treasury stock, for the purpose of meeting the company?s obligations in relation to its employee stock award plans. The program will be valid for a period of three years. As of June 17, 2024, the company had approximately 911,281,920 issued shares and 7,874,440 shares in treasury.