William C. Lucia has served as our President and Chief Executive Officer since March 2009 and as one of our directors since May 2008. From May 2005 to March 2009, Mr. Lucia served as our President and Chief Operating Officer. Since joining us in 1996, Mr. Lucia has held several positions with us, including: President of our subsidiary, Health Management Systems, Inc. from 2002 to 2009; President of our Payor Services Division from 2001 to 2002; Vice President and General Manager of our Payor Services Division from 2000 to 2001; Vice President of our Business Office Services from 1999 to 2000; Chief Operating Officer of our former subsidiary Quality Medical Adjudication, Incorporated (QMA) and Vice President of West Coast Operations from 1998 to 1999; Vice President and General Manager of QMA from 1997 to 1998; and Director of Information Systems for QMA from 1996 to 1997. Prior to joining us, Mr. Lucia served in various executive positions including Senior Vice President, Operations and Chief Information Officer for Celtic Life Insurance Company and Senior Vice President, Insurance Operations for North American Company for Life and Health Insurance. Mr. Lucia is a Fellow of the Life Management Institute (FLMI) Program through LOMA, an international association through which insurance and financial services companies around the world engage in research and educational activities to improve company operations. With over 14 years experience working across multiple divisions at HMS and his prior experience in the insurance industry, Mr. Lucia brings to our Board of Directors in-depth knowledge of the Company and the healthcare and insurance industries. In his prior role as our President and Chief Operating Officer, Mr. Lucia gained critical insights into managing and growing our business in our complex and dynamic healthcare environment, making him well-positioned to lead our management team and provide essential insight and guidance to the Board of Directors from an inside perspective.

Holdings: 275,120 shares     View Transactions

Date	Type	Shares Traded	Price Range
Feb 16, 2012	Automatic Sell	15,000	33.28
Feb 16, 2012	Option Execute	15,000	8.48
Jan 5, 2012	Automatic Sell	15,000	30.70
Jan 5, 2012	Option Execute	15,000	8.48
Dec 15, 2011	Automatic Sell	15,000	30.47
Dec 15, 2011	Option Execute	15,000	8.48
Nov 10, 2011	Acquisition (Non Open Market)	20,000	3.15
Oct 31, 2011	Automatic Sell	15,000	23.31
Oct 31, 2011	Option Execute	15,000	3.15
Sep 27, 2011	Automatic Sell	15,000	25.41
Sep 27, 2011	Option Execute	15,000	2.32 - 3.15
Aug 11, 2011	Automatic Sell	5,000	65.08
Aug 11, 2011	Option Execute	5,000	6.95
Jul 20, 2011	Automatic Sell	5,000	75.92
Jul 20, 2011	Option Execute	5,000	6.95
Jun 14, 2011	Buy	1,000	72.80
Jun 2, 2011	Automatic Sell	5,000	76.49
Jun 2, 2011	Option Execute	5,000	6.95
May 19, 2011	Automatic Sell	5,000	77.33
May 19, 2011	Option Execute	5,000	6.95
Apr 5, 2011	Automatic Sell	5,000	83.30
Apr 5, 2011	Option Execute	5,000	6.95
Mar 16, 2011	Automatic Sell	5,000	78.05
Mar 16, 2011	Option Execute	5,000	6.95
Feb 18, 2011	Disposition (Non Open Market)	2,896	73.92
Feb 17, 2011	Acquisition (Non Open Market)	18,262	n/a
Feb 8, 2011	Automatic Sell	8,000	66.61
Feb 8, 2011	Option Execute	8,000	6.95
Jan 26, 2011	Automatic Sell	8,000	66.13
Jan 26, 2011	Option Execute	8,000	6.95
Dec 20, 2010	Option Execute	14,000	9.44
Dec 15, 2010	Automatic Sell	8,000	64.64
Dec 15, 2010	Option Execute	8,000	6.95
Nov 3, 2010	Automatic Sell	8,000	59.84
Nov 3, 2010	Option Execute	8,000	6.95
Oct 20, 2010	Automatic Sell	8,000	60.39
Oct 20, 2010	Option Execute	8,000	6.95
Sep 9, 2010	Automatic Sell	8,000	55.96
Sep 9, 2010	Option Execute	8,000	6.95
Aug 3, 2010	Automatic Sell	8,000	55.53
Aug 3, 2010	Option Execute	8,000	6.95
Jul 14, 2010	Automatic Sell	8,000	58.03
Jul 14, 2010	Option Execute	8,000	6.95
Jun 3, 2010	Automatic Sell	8,000	54.26
Jun 3, 2010	Option Execute	8,000	6.95
May 18, 2010	Automatic Sell	8,000	55.01
May 18, 2010	Option Execute	8,000	6.95
Apr 6, 2010	Automatic Sell	8,000	50.51
Apr 6, 2010	Option Execute	8,000	6.95
Mar 24, 2010	Automatic Sell	8,000	51.22

Walter D. Hosp has served as Chief Financial Officer since July 2007. In September 2011, he was appointed Chief Administrative Officer, responsible for providing executive direction for the Company's General and Administrative functions.

Mr. Hosp has over 20 years of experience in senior financial executive positions for large publicly-traded healthcare companies. From August 2002 to July 2007, Mr. Hosp was Vice President & Treasurer of Medco Health Solutions, Inc. (MHS). Prior to MHS, Mr. Hosp served as Chief Financial Officer of Ciba Specialty Chemicals Corporation and President of their Business Support Center. Mr. Hosp also served as Vice President & Treasurer for CIBA-GEIGY Corporation and Director of Treasury Operations for Avon Products, Inc.

Mr. Hosp serves on the Board of Directors of the United Way of Westchester and Putnam. He holds a BS and MBA in Finance from New York University.

Holdings: 47,408 shares     View Transactions

Date	Type	Shares Traded	Price Range
Jun 3, 2011	Buy	1,000	75.65
Feb 18, 2011	Disposition (Non Open Market)	2,351	73.92
Feb 17, 2011	Acquisition (Non Open Market)	12,175	n/a
May 21, 2010	Buy	1,000	50.43
Mar 12, 2010	Buy	2,000	45.36
Aug 4, 2009	Acquisition (Non Open Market)	2,000	38.52
May 7, 2008	Buy	5,000	20.14

Andrea Benko has served as our Executive Vice President and the President of HealthDataInsights, Inc. (HDI) since December 2011 and has over 30 years of experience in the healthcare industry. Ms. Benko co-founded HDI and served as its Chief Executive Officer and President from December 2000 through the date of our acquisition of HDI. From 1998 to 1999, Ms. Benko served as a Vice President, Mergers, Acquisitions & Business Development of Total Renal Care Holdings, Inc., now DaVita Inc. and from 1996 to 1998, as the President and Chief Executive Officer of Total Physician Services, Inc. (TPS), a physician practice management company focused on HIV that she founded. Prior to TPS, Ms. Benko served in various capacities at Total Pharmaceutical Care, Inc., now Apria Health Care Group . Prior to joining TPC, Ms. Benko spent nine years in the clinical laboratory industry in mergers and acquisitions, business development, sales management and several years as a registered nurse. Ms. Benko holds a BS in Nursing with honors from Wayne State University and a MBA from the Harvard Business School.

Holdings: 22,154 shares     View Transactions

Date	Type	Shares Traded	Price Range
Dec 21, 2011	Acquisition (Non Open Market)	22,154	31.37

Sean Curtin oversees both our product operations and shared services functions.

Prior to joining HMS, Mr. Curtin was a Manager at Public Consulting Group's Benefit Solutions Practice Area (BSPA) for nine years. During his tenure at PCG, he was responsible for managing half of their entire business, including our largest client, New York Medicaid. He also built and managed the company's Child Support and Veterans Administration markets and products.

Mr. Curtin earned his BA from Clark University, and his JD from Oklahoma City University School of Law.

Holdings: 94,086 shares     View Transactions

Date	Type	Shares Traded	Price Range
Feb 15, 2012	Automatic Sell	7,500	34.02
Feb 15, 2012	Option Execute	7,500	12.61
Jan 17, 2012	Automatic Sell	7,500	33.04
Jan 17, 2012	Option Execute	7,500	8.48
Dec 15, 2011	Automatic Sell	7,500	31.58
Dec 15, 2011	Option Execute	7,500	8.48
Nov 15, 2011	Sell	45,000	30.03
Nov 15, 2011	Option Execute	45,000	8.00 - 8.48
Aug 15, 2011	Automatic Sell	6,462	71.43
Aug 15, 2011	Option Execute	6,462	37.82
Jul 15, 2011	Automatic Sell	6,458	77.02
Jul 15, 2011	Option Execute	6,458	25.45 - 37.82
Jun 15, 2011	Automatic Sell	6,458	73.07
Jun 15, 2011	Option Execute	6,458	25.45
May 16, 2011	Automatic Sell	6,458	76.60
May 16, 2011	Option Execute	6,458	25.45
Apr 15, 2011	Automatic Sell	6,458	80.99
Apr 15, 2011	Option Execute	6,458	23.99 - 25.45
Mar 15, 2011	Automatic Sell	6,458	78.67
Mar 15, 2011	Option Execute	6,458	23.99
Feb 18, 2011	Disposition (Non Open Market)	1,738	73.92
Feb 17, 2011	Acquisition (Non Open Market)	12,175	n/a
Feb 15, 2011	Automatic Sell	6,458	70.23
Feb 15, 2011	Option Execute	6,458	14.04 - 23.99
Jan 18, 2011	Automatic Sell	6,458	66.24
Jan 18, 2011	Option Execute	6,458	14.04
Dec 15, 2010	Automatic Sell	6,458	64.67
Dec 15, 2010	Option Execute	6,458	14.04
Nov 15, 2010	Automatic Sell	6,458	61.24
Nov 15, 2010	Option Execute	6,458	14.04
Oct 15, 2010	Automatic Sell	6,458	62.37
Oct 15, 2010	Option Execute	6,458	14.04
Sep 15, 2010	Automatic Sell	6,458	55.15
Sep 15, 2010	Option Execute	6,458	14.04

Christina Dragonetti is responsible for strategic planning, and research and development. Previously Ms. Dragonetti served as our Executive Vice President of Managed Care, and was responsible for our managed care and private health insurance arenas.

Ms. Dragonetti has more than 20 years of experience within the HMS family of companies, having served in multiple roles in corporate communications and marketing, organizational development, and product development.

From 1999 to 2005, Ms. Dragonetti served as the Senior Vice President for the Reimbursement Services Group, Inc., a wholly owned subsidiary of HMS Holdings, where she led the delivery of cost reporting and audit support services to a broad array of healthcare providers across the country. From 1997 to 1999 she served as Corporate Director of Strategy, focused on strategic planning and acquisition integration..

Holdings: 217,308 shares     View Transactions

Date	Type	Shares Traded	Price Range
Feb 10, 2012	Automatic Sell	12,000	33.51
Jan 10, 2012	Automatic Sell	12,000	32.07
Dec 12, 2011	Automatic Sell	12,000	31.32
Nov 10, 2011	Automatic Sell	12,000	29.57
Oct 10, 2011	Automatic Sell	12,000	24.82
Sep 12, 2011	Automatic Sell	12,000	24.78
Aug 10, 2011	Automatic Sell	4,000	65.10
Jul 11, 2011	Automatic Sell	4,000	78.39
Jun 10, 2011	Automatic Sell	4,000	73.95
May 27, 2011	Option Execute	20,266	77.67
May 11, 2011	Automatic Sell	4,000	78.24
Apr 11, 2011	Automatic Sell	4,000	81.17
Mar 10, 2011	Sell	4,000	79.70
Feb 18, 2011	Disposition (Non Open Market)	1,773	73.92
Feb 17, 2011	Acquisition (Non Open Market)	12,175	n/a
Feb 10, 2011	Automatic Sell	4,000	67.70
Jan 10, 2011	Automatic Sell	4,000	63.32
Dec 10, 2010	Automatic Sell	4,000	65.63

Edith Marshall has served as our General Counsel since May 2010. Prior to joining HMS, Ms. Marshall was Counsel at the law firm of Arnold & Porter, LLP, where, as a member of the firm's FDA and Healthcare Practice Group, she counseled and represented clients in a wide range of matters arising under Medicare and Medicaid, the Public Health Service Act, the Veterans Health Care Act, HIPAA, fraud and abuse laws, state and federal statutes and regulations pertaining to healthcare. In her over 30 years of practicing law, Ms. Marshall has held a variety of different positions in both the federal government and the private sector. Her extensive government experience includes more than two decades of public service as an attorney at the U.S. Department of Health and Human Services (where she focused on Medicare and Medicaid issues), as a litigator at the U.S. Department of Justice and as an Assistant U.S. Attorney for the District of Columbia and supervisor of the Civil Division of the U.S. Attorney's Office.

Cynthia Nustad has served as our Senior Vice President and Chief Information Officer since February 2011. Ms. Nustad has over 15 years of management experience in the healthcare information technology industry. From January 2005 to January 2011, Ms. Nustad served as Vice President — Architecture & Technology for Regence (Blue Cross Blue Shield), where she was responsible for servicing a large corporation across multiple sites and states. From May 2002 to December 2004, Ms. Nustad served as the Vice President —Software Development and Product Management for OAO Healthcare Solutions, Inc. During her tenure at OAO, Ms. Nustad managed, from inception to commercialization, the strategic development of a flagship platform and database-independent managed care benefits and claims processing system designed for, among others, health care plans, self-insured employer groups and government agencies. Prior to OAO Ms. Nustad held leadership roles at e-MedSoft.com and WellPoint Health Networks.

Maria Perrin is responsible for business development and sales activity across all markets. In this role, Ms. Perrin oversees our state government, federal government, child support, and managed care markets. Ms. Perrin works closely with our state and federal clients as well as legislative bodies to enact effective statutory and regulatory requirements that support efficient cost management and government-sponsored healthcare program goals.

Prior to joining the Company in 2007, Ms. Perrin was Senior Vice President of Sales, Marketing, and Business Development at Performant Financial Corporation. At Performant, she developed its healthcare recovery audit division and led the business development efforts for several federal and state government clients. Ms Perrin also lead the Contract Administration function which managed over 30 federal and state government contracts, including contracts with the Department of Education, Department of the Treasury and several state agencies. She brings extensive experience in developing and leading strategic growth initiatives in government and commercial markets to HMS.

Ms. Perrin has also held senior strategic planning, finance, and operational roles in Fortune 500 companies, including Bestfoods and Nissan Motor Corporation. She is a former adjunct professor for the University of Miami and has worked with several leading businesses as a marketing consultant. Ms. Perrin received her M.B.A. from the University of Miami and her B.A. in Economics from the University of California, Los Angeles.

Holdings: 132,465 shares     View Transactions

Date	Type	Shares Traded	Price Range
Nov 28, 2011	Sell	15,000	28.66
Nov 28, 2011	Option Execute	15,000	8.48
Sep 6, 2011	Sell	15,000	24.28
Sep 6, 2011	Option Execute	15,000	8.00
May 20, 2011	Sell	8,014	78.13
May 20, 2011	Option Execute	8,014	22.29
Feb 25, 2011	Disposition (Non Open Market)	5,845	73.70
Feb 18, 2011	Disposition (Non Open Market)	2,150	73.92
Feb 17, 2011	Acquisition (Non Open Market)	12,175	n/a
Aug 11, 2010	Sell	4,486	52.80
Aug 11, 2010	Option Execute	4,486	22.29

Tracy A. South has served as our Senior Vice President of Human Resources since December 2011. Ms. South has over 20 years of executive-level Human Resources experience, including at national healthcare organizations. From 2003 to 2011, Ms. South served as the Senior Vice President, Chief Human Resources Officer at Mosaic Sales Solutions, a privately-held full-service marketing agency in Irving, Texas. She built the company's North America Human Resources department, focusing on attracting and training a dispersed workforce of over 10,000 employees hired to represent world-class brands at retail, in the community and on-line. In her role, Ms. South oversaw Talent Acquisition, HR Services, and Organizational Effectiveness. Ms. South also served as Vice President of Human Resources for Tenet Healthcare, initially for the Central Northeast Division, which included 38 hospitals and over 40,000 employees, and subsequently at the corporate level. She also led the Human Resources department for Aetna US Healthcare, where she oversaw a broad range of functions and designed human resources strategies to align with business practice areas.

Ronald D. Singh has served as our Executive Vice President of Commercial Markets since January 2011. From January 2008 to December 2010, Mr. Singh served as our Senior Vice President of Government Services South, responsible for managing large scope government agency contracts across 13 states with annual revenues exceeding $67 million. Mr. Singh has over 20 years of healthcare cost containment and management experience with commercial payors, government payors and large healthcare providers. In 1995 Mr. Singh joined PCG, where he was instrumental in growing the product offering and market share of BSPA. Mr. Singh joined HMS through our acquisition of BSPA in 2006.