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 2, 2023, there were 64 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 2022, we paid dividends of $76.6 million. 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, 2022:
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)
10/01/2022 —10/31/2022 38,285 $ 101.95 38,285 1,085,160
11/01/2022 — 11/30/2022 — — — 1,085,160
12/01/2022 — 12/31/2022 53,055 112.36 53,000 1,032,160
Total 91,340 $ 108.00 91,285
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(1) Our Board has approved a program to repurchase shares of our outstanding common stock. During the three months ended December 31, 2022, 91,285 shares were repurchased under the program. As of December 31, 2022, we were authorized to repurchase an additional 1,032,160 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, 2022, 55 shares were withheld to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted stock. 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
2022 Form 10-K
STOCK ACTIVITIES
Performance Graph
The following graph compares our cumulative total stockholder return since December 31, 2017, with the S&P Smallcap 600 Index, the S&P Midcap 400 Index, and the S&P Composite 1500 – Human Resource & 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, 2017.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among Insperity, Inc., the S&P Smallcap 600 Index, the S&P Midcap 400 Index and the S&P Composite 1500 – Human Resource and Employment Services Index
*$100 invested on 12/31/17 in Insperity stock or in the specified index, including reinvestment of dividends.
Fiscal year ending December 31.
Copyright© 2023 Standard & Poor's, a division of S&P Global. All rights reserved.
12/17 12/18 12/19 12/20 12/21 12/22
Insperity, Inc. 100.00 164.21 153.12 148.29 222.70 218.43
S&P Smallcap 600 100.00 91.52 112.37 125.05 158.59 133.06
S&P Midcap 400 100.00 88.92 112.21 127.54 159.12 138.34
S&P Composite 1500 – Human Resource & Employment Index 100.00 83.73 102.81 103.69 156.71 117.07
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].
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2022 Form 10-K
MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS