Earnings Per Share

6 Months Ended

Jun. 30, 2025

Basic earnings per share is computed by dividing net income attributable to common stockholders by the number of weighted average shares of voting common stock outstanding, including unvested restricted stock awards which contain rights to non-forfeitable dividends. Diluted earnings per share is computed by dividing net income attributable to common stockholders by the number of weighted average shares of voting common stock outstanding, adjusted for the dilutive impact of unissued shares paid to directors during the year as compensation. A reconciliation of the number of shares used

in the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024 follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Weighted average number of common shares outstanding	66,172,701	66,878,772	66,470,709	66,969,939
Effect of non-participatory equity compensation	14,551	16,776	14,551	16,776
Weighted average number of common shares outstanding, including effect of dilutive securities	66,187,252	66,895,548	66,485,260	66,986,715