Insperity COO exercises 961 performance units
Insperity, Inc. President and COO Arthur A. Arizpe reported the exercise and conversion of 961 phantom stock performance units into an equivalent number of shares of Insperity common stock at a price of $0.00 per share.
Rhea-AI Filing Summary
Insperity, Inc. President and COO Arthur A. Arizpe reported the exercise and conversion of 961 phantom stock performance units into an equivalent number of shares of Insperity common stock at a price of $0.00 per share. These units are part of three-year performance awards granted in 2023, for which the compensation committee has certified that the final performance conditions were achieved. Following this transaction, Arizpe directly holds 84,058 shares of common stock and 3,387 phantom stock performance units, and is also reported as indirectly beneficially owning 102,558 shares held by S.C.A. Legacy, Ltd., which is controlled by Arizpe Management, LLC.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock Performance Units (Stock Settled) | 961 | $0.00 | $0.00 |
| Exercise | Common Stock | 961 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Footnotes (5)
- F1. On this date, the Compensation Committee certified the achievement of the final performance conditions for these three-year performance period awards granted in 2023. These shares of Insperity, Inc. common stock ("Common Stock") will be settled no later than March 15, 2026.
- F2. The number of shares does not include additional shares related to the cash value of dividend rights that will be settled in shares of Common Stock. The value of these dividend rights will be based on the fair market value of the Common Stock on the trading day immediately preceding the final settlement date following the certification of the final performance conditions.
- F3. These shares are owned directly by S.C.A. Legacy, Ltd., which is controlled by Arizpe Management, LLC. Mr. Arizpe, by virtue of his position as Manager of Arizpe Management, may be deemed to beneficially own these shares.
- F4. Each phantom stock performance unit represents a contingent right to receive one share of Common Stock pursuant to the terms of the Long-Term Incentive Program (the "LTIP") awards issued under the Insperity, Inc. 2012 Incentive Plan based on a three-year performance period award cycle.
- F5. These phantom stock performance units vest at the end of the three-year award cycle period following certification in accordance with the LTIP of the achievement of all performance goals for the performance periods applicable to such award.
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