Company: NSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001000753-25-000023
Chunk: 42

Company: INSPERITY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 7
Chunk 42
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 program. On August 1, 2023, we announced that our Board of Directors had authorized an increase of 2,000,000 shares that may be repurchased under the program. As of March 31, 2025, we were authorized to repurchase an additional 1,407,764 shares under the program. Unless terminated earlier by resolution of our Board of Directors, the repurchase program will expire when we have repurchased all shares authorized for repurchase under the repurchase program.  

Item 5. Other Information

Trading Plans

During the first quarter of 2025, none of our directors or executive officers adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408 of Regulation S-K).

Credit Agreement Amendment

On April 28, 2025, we entered into the Seventh Amendment to Amended and Restated Credit Agreement (the “Seventh Amendment”) with Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent, and certain financial institutions, as lenders. The Seventh Amendment is effective as of March 31, 2025 and amends the Company’s existing credit agreement, dated as of February 6, 2018 (as amended), to, among other things, (i) amend the definition of interest coverage ratio to exclude cash distributions, and (ii) subject to certain exceptions, provide that the Company will not declare or pay any distribution if a Special Unmatured Event of Default (as defined in the Seventh Amendment) exists at the time of declaring or paying such distribution or would occur immediately after giving effect to the declaration or payment of such distribution.

The foregoing summary is qualified in its entirety by reference to the Seventh Amendment, a copy of which is filed as Exhibit 10.1 to this Form 10-Q and is incorporated in this Item 5 by reference.

Insperity | 2025 First Quarter Form 10-Q34

OTHER INFORMATION

Item 6. Exhibits

Exhibit NoExhibit3.1Amended and Restated Certificate of Incorporation of Insperity, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on May 23, 2024).10.1*Seventh Amendment to the Amended and Restated Credit Agreement dated April 28, 2025.