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Starboard Value Nominates Director Candidates to Insperity, Inc. (NSP)’s Board

Published on March 15, 2016 at 11:40 am by Meena Krishnamsetty in Hedge Funds, News
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Activist Jeff Smith‘s Starboard Value has reiterated its position in Insperity Inc (NYSE:NSP) and announced its intention to nominate two director candidates to the Board at the this-year annual meeting of stockholders. Starboard nominated John Murphy and Michael F. Shea as candidates, under the terms of an agreement signed last year. The agreement stated that Starboard would nominate three directors, including Peter Feld, Starboard’s Managing Member. Starboard currently holds almost 3.34 million shares of Insperity, which represent 15.7% of the company’s outstanding stock.

Among the funds we follow, the number of investors bullish on Insperity was unchanged during the fourth quarter and 25 funds reported long positions as of the end of December. Starboard Value is the largest shareholder, followed by Alexander Medina Seaver‘s Stadium Capital Management with a $160.6 million position, held at the end of 2015. Other funds with long positions, include Bruce Salomon’s Elberon Capital, Michael R. Weisberg’s Crestwood Capital Management and Jim Simons’ Renaissance Technologies.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
STARBOARD VALUE 3,335,976 3,335,976 3,335,976 3,335,976 3,335,976 15.7%
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD 1,986,958 3,335,976 1,986,958 3,335,976 1,986,958 9.3%
STARBOARD VALUE AND OPPORTUNITY S 444,820 3,335,976 444,820 3,335,976 444,820 2.1%
STARBOARD VALUE AND OPPORTUNITY C 241,324 241,324 241,324 1.1%
STARBOARD VALUE R 241,324 241,324 241,324 1.1%
STARBOARD VALUE R GP 241,324 241,324 241,324 1.1%
STARBOARD VALUE GP 3,335,976 3,335,976 3,335,976 15.7%
STARBOARD PRINCIPAL CO 3,335,976 3,335,976 3,335,976 15.7%
STARBOARD PRINCIPAL CO GP 3,335,976 3,335,976 3,335,976 15.7%
JEFFREY C. SMITH 1,120 1,120 3,335,976 15.7%
MARK R. MITCHELL 3,335,976 15.7%
PETER A. FELD 3,337,096 15.7%
JOHN MORPHY 0%
MICHAEL F. SHEA 0%

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Page 1 of 26 SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 3)1
Insperity, Inc.
(Name of Issuer)
Common Stock, $0.01 Par Value
(Title of Class of Securities)
45778Q107
(CUSIP Number)
JEFFREY C. SMITH
STARBOARD VALUE LP
777 Third Avenue, 18th Floor
New York, New York 10017
(212) 845-7977
STEVE WOLOSKY, ESQ.
OLSHAN FROME WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
March 12, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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