Company: NSP
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001000753-25-000069
Chunk: 14

Company: INSPERITY, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 14
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 (expense). The Facility contains both affirmative and negative covenants that we believe are customary for arrangements of this nature. Covenants include, but are not limited to, limitations on our ability to incur additional indebtedness, sell material assets, retire, redeem or otherwise reacquire our capital stock, acquire the capital stock or assets of another business, make investments and pay dividends. In addition, the Credit Agreement requires us to comply with financial covenants limiting our total funded debt, minimum interest coverage ratio, and maximum leverage ratio. Effective March 31, 2025, we amended the Facility to exclude dividends from the interest coverage ratio financial covenant. We were in compliance with all financial covenants under the Credit Agreement at June 30, 2025.

6.Stockholders' EquityDuring the six months ended June 30, 2025, we repurchased or withheld an aggregate of 224,867 shares of our common stock, as described below.Repurchase ProgramOur Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases may be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During the six months ended June 30, 2025, 45,000 shares were repurchased under the Repurchase Program.  As of June 30, 2025, we were authorized to repurchase an additional 1,407,764 shares under the Repurchase Program.Withheld SharesDuring the six months ended June 30, 2025, we withheld 179,867 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock unit awards.

Insperity | 2025 Second Quarter Form 10-Q17

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DividendsThe Board declared and paid quarterly dividends as follows:(amounts per share)20252024First quarter$0.60 $0.57 Second quarter0.60 0.60 During the six months ended June 30, 2025 and 2024, we declared and paid dividends totaling $45 million and $44 million, respectively.

7.Earnings Per ShareBasic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period, plus the dilutive effect of