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Stock Market & Financial Investment News

News Breaks
February 8, 2013
11:54 EDTNSPInsperity shares down 10.2% after issuing guidance on Q4 conference call
Company sees Q1 EPS 46c-53c, consensus 54c. Sees FY13 EPS $1.47-$1.56, consensus $1.86.
News For NSP From The Last 14 Days
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March 23, 2015
17:28 EDTNSPStarboard reports 13.1% stake in Insperity, reaches pact on board composition
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08:32 EDTNSPInsperity says to commence activities to market two aircraft for sale
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08:31 EDTNSPInsperity, Starboard reach agreement on board composition
Insperity announced that its Board of Directors has reached an agreement with Starboard Value LP, its largest shareholder, in advance of the company’s 2015 annual meeting of shareholders. Under the terms of the agreement, Starboard has agreed to vote all of its shares at the upcoming annual meeting in favor of the Company’s incumbent Class II directors, who are Paul Sarvadi, Chairman and CEO, Carol Kaufmann, Lead Independent Director, and Austin Young, Chairman of the Finance and Risk Management Committee. The agreement also calls for the immediate appointment of two new directors to the Board of Directors -- Norman Sorensen and Peter Feld, who will be the only nominee affiliated with Starboard -- and the later appointment of a third director nominated by Starboard. Two existing directors, Paul Lattanzio and Jack Fields, who had decided not to seek re-election when their terms expire in 2016, have announced their decisions to depart from the Board immediately following the 2015 annual meeting. In addition, Starboard has agreed to customary standstill restrictions. Pursuant to the agreement, the Board has created a new independent advisory committee to review the company’s business and make recommendations to the Board regarding capital allocation, expenses and targeted ranges for Adjusted EBITDA Margins, as defined in the agreement, while taking into consideration the company’s risk profile and the potential impact of any recommendations on the company’s business model and strategic plan. The new committee consists of two current independent directors and two Starboard nominees, including Mr. Feld, who chairs the committee. The committee will evaluate Insperity’s cost structure and Insperity, Inc. recommend targeted ranges for Adjusted EBITDA Margins for fiscal years 2015 and 2016, which the Board will have the right to review and approve. Subject to the approval of such recommendations by the Board, the company will issue a press release or public announcement discussing such approved recommendations no later than the second quarter fiscal year 2015 earnings announcement. “This agreement represents the best possible outcome for all of our shareholders. We look forward to working with the new directors toward our common goal of enhancing long-term shareholder value and continuing our strong business momentum,” said Mr. Sarvadi.
March 19, 2015
17:33 EDTNSPStadium Capital cuts stake in Insperity to 6.2% from 7.3%
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