Company: NSP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001000753-25-000013
Chunk: 66

Company: INSPERITY, INC.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 66
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-K for the year ended December 31, 2024 filed with the SEC on February 10, 2025.

6 Net Income is a GAAP financial measure. Please read our annual report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 10, 2025 and our prior Form 10-K for the year ended December 31, 2022 filed with the SEC on February 9, 2023.

#### Insperity472025 Proxy Statement
7 Adjusted EBITDA is a non-GAAP financial measure used by management to analyze the Company’s performance. Adjusted EBITDA represents EBITDA (earnings before interest, taxes, depreciation and amortization) plus stock-based compensation, amortization of SaaS implementation costs and certain other predefined specified items. Please read Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures,” in our annual report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 10, 2025 and our prior Form 10-K for the year ended December 31, 2022 filed with the SEC on February 9, 2023 for a reconciliation of this non-GAAP financial measure to the most directly comparable financial measure calculated and presented in accordance with GAAP.

Relationship Between Compensation Actually Paid and Performance

The charts that follow depict the relationship of "compensation actually paid" (CAP) to our PEOs and non-PEO NEOs to (1) the TSR of the Company and its peer group (as described in footnote 4 to the table above), (2) the Company's net income, and (3) the Company's annual non-GAAP Adjusted EBITDA. Pursuant to applicable regulations, CAP reflects adjustments to the fair value of equity awards during the years presented. Changes in our stock price and the projected and actual achievement of our performance goals greatly impact the total CAP reported for each year presented. For fiscal year 2024, the decrease in CAP for our non-PEO NEOs was also a reflection of the retirement in 2023 as an executive officer of our long-time Executive Vice President of Legal, General Counsel and Secretary, Mr. Herink; the addition of a less tenured executive, Mr. Callens as an NEO in 2024; and the cessation of Mr. Herink as a reported NEO in 2024