Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Common Stock
Our common stock is traded on the New York Stock Exchange under the symbol “NSP.” As of February 3, 2022, there were 422 holders of record of our common stock. This number does not include stockholders for whom shares were held in “nominee” or “street name.”
Dividend Policy
During 2021, we paid dividends of $144.2 million, including a special cash dividend of $76.7 million paid in the fourth quarter of 2021. The payment of dividends is made at the discretion of our Board and depends upon our operating results, financial condition, capital requirements, general business conditions and such other factors as our Board deems relevant.
Issuer Purchases of Equity Securities
The following table provides information about our purchases of Insperity common stock during the three months ended December 31, 2021:
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)
10/01/2021 – 10/31/2021 257 $ 115.66 — 874,828
11/01/2021 – 11/30/2021 71,200 117.60 71,200 1,803,628
12/01/2021 – 12/31/2021 100,049 115.45 100,000 1,703,628
Total 171,506 $ 116.34 171,200
__________________________________
(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 2021. During the three months ended December 31, 2021, 171,200 shares were repurchased under the program. As of December 31, 2021, we were authorized to repurchase an additional 1,703,628 shares under the program. 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.
(2) During the three months ended December 31, 2021, 306 shares 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. These shares are not subject to the repurchase program described above.
35
2021 Form 10-K
STOCK ACTIVITIES
Performance Graph
The following graph compares our cumulative total stockholder return since December 31, 2016, with the S&P Smallcap 600 Index, the S&P Midcap 400 Index and the S&P 1500 Composite Human Resources and Employment Services Index. The graph assumes that the value of the investment in our common stock and each index (including reinvestment of dividends) was $100 on December 31, 2016.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among Insperity, Inc., the S&P Smallcap 600 Index, the S&P Midcap 400 Index,
and S&P 1500 Composite Human Resource and Employment Services Index
*$100 invested on 12/31/16 in Insperity stock or in the specified index, including reinvestment of dividends.
Fiscal year ending December 31.
Copyright© 2022 Standard & Poor's, a division of S&P Global. All rights reserved.
12/16 12/17 12/18 12/19 12/20 12/21
Insperity, Inc. 100.00 169.61 278.56 259.80 251.71 384.69
S&P Smallcap 600 100.00 113.23 103.63 127.24 141.60 179.58
S&P Midcap 400 100.00 116.24 103.36 130.44 148.26 184.96
S&P 1500 Composite Human Resource and Employment Services 100.00 133.83 118.16 139.60 140.55 211.68
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 or the Exchange Act, regardless of any general incorporation language in such filing.
Item 6. [Reserved].
36
2021 Form 10-K
MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS