What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2021-02-12 compared with 2020-02-12 · 34 added, 8 removed, 73 unchanged (37% of the section changed)

6 unchanged sentences

The following table provides information about our purchases of Insperity common stock during the three months ended December 31, 2020:

Total Number of Shares Purchased (1)(2)

Average Price Paid per Share

Total Number of Shares Purchased as Part of Publicly Announced Program (1)

Period Total Number of Shares Purchased (1)(2)

Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program (1)

Maximum Number of Shares that may yet be Purchased under the Program (1)

2 unchanged sentences

12/01/2020 – 12/31/2020 100,144 81.87 99,696 1,128,137

Total 100,144 $ 81.87 99,696

__________________________________

Our Board has approved a program to repurchase shares of our outstanding common stock, including an additional 700,000 shares authorized for repurchase in August 2019.

(1) Our Board has approved a program to repurchase shares of our outstanding common stock, including an additional 1,000,000 shares authorized for repurchase in November 2020.

During the three months ended December 31, 2020, 99,696 shares were repurchased under the program.

1 unchanged sentence

Unless terminated earlier by resolution of the Board, the repurchase program will expire when we have repurchased all the shares authorized for repurchase under the repurchase program.

During the three months ended December 31, 2019 , 49 shares of restricted stock were withheld to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted stock.

(2) During the three months ended December 31, 2020, 448 shares of restricted stock and restricted stock units were withheld to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted stock and restricted stock units.

The required withholding is calculated using the closing sales price reported by the New York Stock Exchange on the date prior to the applicable vesting date.

12 unchanged sentences

12/15 12/16 12/17 12/18 12/19 12/20

Insperity, Inc.

100.00 149.55 249.18 409.17 381.54 369.50

S&P Smallcap 600 100.00 126.56 143.30 131.15 161.03 179.20

1 unchanged sentence

S&P 1500 Composite Human Resource and Employment Services 100.00 106.87 142.78 126.28 149.13 150.17

This graph shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

This graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

2020 Form 10-K

5 unchanged sentences

Year Ended December 31,

2020 2019 2018 2017 2016

Income Statement Data:

$ 4,287,004 $ 4,314,804 $ 3,828,549 $ 3,300,223 $ 2,941,347

806,854 732,934 681,909 572,731 491,610

Operating income

194,689 186,633 179,036 129,941 106,306

151,099 135,413 84,402 65,991

3.54 3.70 3.22 2.01 (2)

Non-GAAP Financial Measures (3) :

Adjusted net income

$ 181,314 $ 169,449 $ 157,536 $ 103,005 $ 76,718

4.64 4.15 3.75 2.45 (2)

Adjusted EBITDA

288,620 250,006 239,601 177,681 141,183

Balance Sheet Data:

Working capital

$ 172,344 $ 105,701 $ 94,204 $ 54,206 $ 39,364

1,584,276 1,394,996 1,191,816 1,063,695 907,174

369,400 269,400 144,400 104,400 104,400

Total stockholders’ equity

44,132 4,079 77,676 66,321 60,525

Cash dividends per share

1.60 1.20 0.80 1.58 (2)(4)

Average WSEEs paid

234,223 235,547 209,123 182,696 165,850

Statistical Data (per WSEE per month):

$ 1,525 $ 1,527 $ 1,526 $ 1,505 $ 1,478

287 259 272 261 247

Operating income

69 66 71 59 53

Adjusted EBITDA (3)

103 88 95 81 71

____________________________________

(1) Revenues are comprised of gross billings less WSEE payroll costs as follows:

1 unchanged sentence

(in thousands)

2020 2019 2018 2017 2016

Gross billings

$ 28,168,611 $ 27,212,010 $ 23,830,731 $ 20,173,812 $ 17,932,857

WSEE payroll cost

Includes non-cash impairment and other charges of $9.8 million and $1.3 million , respectively, partially offset by a reduction of $0.6 million in 2015.

23,881,607 22,897,206 20,002,182 16,873,589 14,991,510

$ 4,287,004 $ 4,314,804 $ 3,828,549 $ 3,300,223 $ 2,941,347

(2) Adjusted to reflect the two-for-one split of our common stock effected on December 18, 2017 as a stock dividend.

3 unchanged sentences

(4) Includes a $1.00 per share special dividend paid in 2017.

(5) Revenues per WSEE per month are comprised of gross billings per WSEE per month less WSEE payroll costs per WSEE per month as follows:

2020 Form 10-K

SELECTED FINANCIAL DATA

Revenues per WSEE per month are comprised of gross billings per WSEE per month less WSEE payroll costs per WSEE per month as follows:

Year Ended December 31,

2 unchanged sentences

WSEE payroll cost

8,497 8,100 7,970 7,697 7,533

Revenues $ 1,525 $ 1,527 $ 1,526 $ 1,505 $ 1,478

2020 Form 10-K

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity