STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, announced the resolutions to be submitted for adoption at the Annual General Meeting of Shareholders (AGM) which will be held in Amsterdam, the Netherlands, on May 22, 2024.
The resolutions, proposed by the Supervisory Board, are:
• The adoption of the Remuneration Policy for the Supervisory Board;
• The adoption of the Company’s statutory annual accounts for the year ended
December 31, 2023, prepared in accordance with International Financial Reporting
Standards (IFRS). The 2023 statutory annual accounts were filed with the
Netherlands authority for the Financial Markets (AFM) on March 21, 2024 and are
posted on the Company’s website (www.st.com) and the AFM’s website
(www.afm.nl);
• The distribution of a cash dividend of US$ 0.36 per outstanding share of the
Company’s common stock, to be distributed in quarterly installments of US$ 0.09 in
each of the second, third and fourth quarters of 2024 and first quarter of 2025 to
shareholders of record in the month of each quarterly payment as per the table
below;
• The amendment to the Company’s Articles of Association;
• The adoption of the Remuneration Policy for the Managing Board;
• The reappointment of Mr. Jean-Marc Chery as member and Chairman of the
Managing Board for a three-year term to expire at the end of the 2027 AGM;
• The approval of the stock-based portion of the compensation of the President and
CEO;
• The appointment of Mr. Lorenzo Grandi as member of the Managing Board for a
three-year term to expire at the end of the 2027 AGM;
• The approval of the stock-based portion of the compensation of the Chief Financial
Officer;
• The approval of a new 3-year Unvested Stock Award Plan for Management and Key
Employees;
• The reappointment of EY as external auditor for the 2024 and 2025 financial years;
• The reappointment of Mr. Nicolas Dufourcq, as member of the Supervisory Board, for
a three-year term to expire at the end of the 2027 AGM;
• The reappointment of Ms. Janet Davidson, as member of the Supervisory Board, for
a one-year term to expire at the end of the 2025 AGM;
• The appointment of Mr. Pascal Daloz, as member of the Supervisory Board, for a
three-year term expiring at the 2027 AGM, in replacement of Mr. Yann Delabrière
whose mandate will expire at the end of the 2024 AGM;
• The authorization to the Managing Board, until the conclusion of the 2025 AGM, to
repurchase shares, subject to the approval of the Supervisory Board;
• The delegation to the Supervisory Board of the authority to issue new common
shares, to grant rights to subscribe for such shares, and to limit and/or exclude
existing shareholders’ pre-emptive rights on common shares, until the end of the
2025 AGM;
• The discharge of the member of the Managing Board; and
• The discharge of the members of the Supervisory Board.
The record date for all shareholders to participate at the Annual General Meeting of Shareholders will be April 24, 2024. The complete agenda and all relevant detailed information concerning the 2024 AGM, as well as all related AGM materials, are available on the Company’s website (www.st.com) and made available to shareholders in compliance
with legal requirements as of March 21, 2024.
As for rule amendments from the Securities and Exchange Commission (SEC) and
conforming FINRA rule changes, beginning on May 28, 2024, on US market the new standard for settlement will become the next business day after a trade or t+1. European settlement rule will remain at t+2.
The table below summarizes the full schedule for the quarterly dividends:
