UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated July 2, 2021
Commission File Number: 1-13546
STMicroelectronics
N.V.
(Name of Registrant)
WTC Schiphol Airport
Schiphol Boulevard 265
1118 BH Schiphol Airport
The Netherlands
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F
o
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes o No x
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes o No x
Indicate by check mark whether the registrant
by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934:
Yes o No x
If “Yes” is marked, indicate below
the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________
Enclosure: A
press release dated July 1, 2021 announcing the launch of STMicroelectronics N.V.’s share buy-back program.
PR N° C3016C
STMicroelectronics
Announces Launch of
Share Buy-back Program
AMSTERDAM – July 1, 2021 -- STMicroelectronics
N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum
of electronics applications, announced the launch of a share buy-back program of up to $1,040 million to be executed within a 3-year period
(subject to shareholder and other approvals from time to time) following the publication of this press release. The share buy-back program
will be carried out in accordance with the authorisation of the Supervisory Board and the provisions of the Market Abuse Regulation (EU)
596/2014 and Commission Delegated Regulation (EU) 2016/1052.
The Company intends to carry out the
buy-back program, and hold the shares bought back as treasury stock, for the purpose of meeting the Company’s obligations in relation
to its employee stock award plans and to support the potential settlement of its outstanding convertible bond. As of June 28, 2021, the
Company holds approximately 8 million treasury shares, representing approximately 0.9 percent of its issued share capital.
The Company will appoint one or more
brokers to execute the share buy-back program in accordance with all applicable regulations. The brokers will make their decisions relating
to the purchase of Company shares independently, including with respect to the timing of any purchases, and all purchases effected will
be in compliance with daily limits on prices and volumes.
The Company’s closing share price
on the New York Stock Exchange on June 30, 2021, was $36.38 and, at such price, the maximum number of shares that could be acquired for
$1,040 million would be approximately 28.6 million, which represents approximately 3.1 percent of the Company’s issued share capital.
Purchases of shares will be made on one
or more trading venues, which may include the regulated market of Euronext Paris, the Mercato Telematico Azionario organised and managed
by Borsa Italiana S.p.A. and the New York Stock Exchange.
The price paid for any share purchased
pursuant to the share buy-back program shall be subject to:
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a minimum of €1.04 per share;
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a maximum of 110 percent of the average of the
highest price per common share on each of the five trading days prior to the purchase date, on each of the regulated market of Euronext
Paris, the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A. and New York Stock Exchange; and
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a maximum of the greater of (i) the price of the
last independent trade and (ii) the highest current independent purchase bid on the trading venue where the purchase is carried out; and
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all other applicable rules.
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The actual timing, number and value of
Company shares repurchased under the share buy-back program will depend on a number of factors, including market conditions, general business
conditions and applicable legal requirements. The Company is not obligated to carry out the share buy-back program, and, if commenced,
the share buy- back program may be suspended and discontinued at any time, for any reason and without previous notice, in accordance with
applicable laws and regulations.
The share buy-back program implements
the resolution of the Company’s shareholders pursuant to its annual shareholders’ meeting held on May 27, 2021 to repurchase
shares in accordance with the authorisation of the Supervisory Board. Continuation of the share buy-back program will be subject to future
shareholder approval at the Company’s 2022 annual shareholders’ meeting.
The Company will announce details of
any share purchases effected pursuant to the share buy-back program, as required by applicable laws and regulations. The costs that the
Company may incur in connection with the purchase of the shares pursuant to the share buy-back program will depend on the price and the
terms on which actual purchases are made.
About STMicroelectronics
At ST, we are 46,000 creators and makers of
semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device
manufacturer, we work with more than 100,000 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 the Internet of Things and 5G technology. Further information
can be found at www.st.com.
For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel : +41.22.929.58.12
celine.berthier@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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STMicroelectronics N.V.
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Date:
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July 2, 2021
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By:
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/s/ Lorenzo Grandi
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Name:
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Lorenzo Grandi
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Title:
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Chief Financial Officer
President, Finance, Infrastructure and Services
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