Company: NSP
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001000753-25-000008
Chunk: 117

Company: INSPERITY, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 117
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 Repurchase Program.  As of December 31, 2024, we were authorized to repurchase an additional 1,452,764 shares under the Repurchase Program.The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposes a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During 2023, we recorded the applicable excise tax in treasury stock of $1 million as part of the cost basis of stock repurchased and recorded a corresponding liability for the excise tax payable in other accrued liabilities in our Consolidated Balance Sheets.

 F-242024   Form 10-K

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Withheld SharesDuring 2024, we withheld 180,379 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock unit awards.DividendsThe Board declared and paid quarterly dividends as follows:(amounts per share)20242023First quarter$0.57 $0.52 Second quarter0.60 0.57 Third quarter0.60 0.57 Fourth quarter0.60 0.57 During 2024 and 2023, we declared and paid dividends totaling $89 million and $84 million, respectively.

Preferred Stock

At December 31, 2024, 20 million shares of preferred stock were authorized.

9.Incentive PlansThe Insperity, Inc. Incentive Plan, as amended, (the “Incentive Plan”) provides for options and other stock-based awards that have been and may be granted to eligible employees and non-employee directors of Insperity or its subsidiaries. The Incentive Plan permits stock options, including nonqualified stock options and options intended to qualify as “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code, stock awards, restricted stock units, phantom stock awards, stock appreciation rights, performance units, and other stock-based awards and cash awards, all of which may or may not be subject to the achievement of one or more performance objectives. The purpose of the Incentive Plan generally is to retain and attract persons of training, experience and ability to serve as employees of Insperity and its subsidiaries and to serve as non-employee directors of Insperity, to encourage the sense of proprietorship of such persons and to stimulate the active interest