Stockholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

8.  Stockholders' Equity

Our Board of Directors (the “Board”) has authorized a program to repurchase up to 14,500,000 shares of Insperity's outstanding common stock (“Repurchase Program”).  The purchases are to be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions or other factors.  We repurchased 902,521 shares under the Repurchase Program during 2011.  In addition, 108,280 shares were withheld during 2011 to satisfy tax withholding obligations for the vesting of restricted stock awards.  These purchases are not subject to the Repurchase Program.  During 2010, we repurchased 271,739 shares under the Repurchase Program and 97,419 shares were withheld to satisfy tax withholding obligations for the vesting of restricted stock awards.  As of December 31, 2011, we were authorized to repurchase an additional 1,236,872 shares under the Repurchase Program.

During each quarter of 2011 and 2010 the Board declared dividends of $0.15 and $0.13 per share of common stock, respectively, resulting in a total of $15.7 million and $13.5 million in dividend payments paid by us in 2011 and 2010.

At December 31, 2011, 20 million shares of preferred stock were authorized, of which 600,000 shares were designated as Series A Junior Participating Preferred Stock that is reserved for issuance on exercise of preferred stock purchase rights under Insperity's Share Purchase Rights Plan (the “Rights Plan”).  Each issued share of Insperity's common stock has one preferred stock purchase right attached to it.  No preferred shares have been issued and the rights are not currently exercisable.  The Rights Plan expires on November 13, 2017.