Note 8 - Equity

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

8. Equity

(a) Treasury Stock

On July 30, 2015, the Company’s Board of Directors approved a share repurchase program authorizing the repurchase of up to $75 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions. The repurchase program is authorized through July 30, 2017, and may be suspended or discontinued at any time. Repurchased shares will be available for use in connection with issuance under the Company’s stock plans and for other corporate purposes. Repurchases also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when HMS might otherwise be precluded from doing so under insider trading laws. The timing and amount of any shares repurchased under the program will be determined by management based on its evaluation of market conditions and other factors. During the year ended December 31, 2015, the Company repurchased $50 million of the Company’s common stock pursuant to this authorization and 10b5-1 plans.

The summary of the Company’s repurchases of the common stock through the date hereof is as follows:

Period	Total Number of Shares Purchased		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Program (1)		Maximum Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program
July 1, 2015 to July 31, 2015		-	$	-		-	$	-
August 1, 2015 to August 31, 2015		2,562,065		9.40		2,562,065		50,000,000
September 1, 2015 to September 30, 2015		-		-		-		-
July 1, 2015 to September 30, 2015		2,652,065	$	9.40		2,652,065	$	50,000,000
October 1, 2015 to October 31, 2015		-	$	-		-	$	-
November 1, 2015 to November 30, 2015		1,631,119		11.64		1,631,119		19,000,000
December 1, 2015 to December 31, 2015		464,257		12.83		464,257		6,000,000
October 1, 2015 to December 31, 2015		2,095,376	$	11.91		2,095,376		25,000,000
Total		4,747,441	$	10.51		4,747,441	$	25,000,000

(1) Represents shares repurchased through the Company’s Share Repurchase Program publicly announced in August 2015.

(b) Preferred Stock

The Company’s certificate of incorporation, as amended, authorizes the issuance of up to 5,000,000 shares of “blank check” preferred stock with such designations, rights and preferences as may be determined by the Company’s Board of Directors. As of December 31, 2015, no preferred stock had been issued.