Insperity (NSP) CFO earns 463-share LTIP performance award
Rhea-AI Filing Summary
Insperity, Inc. executive James D. Allison reported the conversion of performance-based equity awards into common stock. On the reported date, he exercised 463 phantom stock performance units, which each represent a contingent right to one share, and acquired 463 shares of Insperity common stock at no cost.
The phantom units were granted in 2023 under Insperity’s Long-Term Incentive Program and vest over a three-year performance period. The compensation committee certified that final performance goals were met, and the related common shares will be settled no later than March 15, 2026. The filing notes that additional shares tied to dividend-equivalent rights will also be settled in stock based on the fair market value immediately before the final settlement date.
Positive
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Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock Performance Units (Stock Settled) | 463 | $0.00 | -- |
| Exercise | Common Stock | 463 | $0.00 | -- |
Footnotes (1)
- 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. 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. 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. 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.