STMicroelectronics has declared the resolutions to be submitted for adoption at the Annual General Meeting of Shareholders (AGM) which will be held in Schiphol, the Netherlands, on May 27, 2021.
The resolutions, proposed by the Supervisory Board, are:
- The adoption of the Company’s statutory annual accounts for the year ended December 31, 2020, prepared under International Financial Reporting Standards (IFRS). The 2020 statutory annual accounts were filed with the Netherlands Authority for the Financial Markets (AFM) on March 25, 2021;
- The distribution of a cash dividend of US$ 0.24 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of US$ 0.06 in each of the second, third and fourth quarters of 2021 and first quarter of 2022 to shareholders of record in the month of each quarterly payment ;
- The reappointment of Jean-Marc Chery as the sole member of the Managing Board for a three-year term to expire at the end of the 2024 AGM;
- The reappointment of Nicolas Dufourcq, as member of the Supervisory Board, for a three-year term to expire at the end of the 2024 AGM;
- The adoption of an amended remuneration policy for the Managing Board, in line with recent changes in Dutch corporate law and the EU’s Shareholder Rights Directive II (SRDII);
- The approval of the stock-based portion of the compensation of the President and CEO;
- The adoption of a new 3-year Unvested Stock Award Plan for Management and Key Employees;
- The authorization to the Managing Board, until the end of the 2022 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 2022 AGM;
- The discharge of the sole 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 29, 2021.
The complete agenda and all relevant detailed information concerning the 2021 AGM, as well as all related AGM materials, are available on the Company’s website and made available to shareholders in compliance with legal requirements as of March 25, 2021.