EARNINGS PER SHARE

Basic and diluted earnings per common share (“EPS”) for the three and six months ended June 30, 2017 and 2016 were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
	(in thousands)
Numerator:
Net income attributable to common stockholders	$	18,086		$	11,735		$	25,241		$	18,096
Less: adjustment for income allocated to participating securities	(2,843		)	(1,857		)	(3,971		)	(2,868		)
Net income attributable to common stockholders - basic and diluted	$	15,243		$	9,878		$	21,270		$	15,228
Denominator:
Weighted average common shares outstanding - basic	73,953			73,389			73,882			73,238
Plus: dilutive effect of stock options and unvested restricted stock units	619			854			743			1,151
Weighted average common shares outstanding - diluted	74,572			74,243			74,625			74,389

Net income per common share:
Basic	$	0.21		$	0.13		$	0.29		$	0.21
Diluted	$	0.20		$	0.13		$	0.29		$	0.20

Diluted EPS is calculated using the two-class method. For the three months ended June 30, 2017 and 2016, 2.2 million and 0.6 million options and restricted stock units, respectively, were excluded from the calculation of diluted EPS under the two-class method because the effect was anti-dilutive. For the six months ended June 30, 2017 and 2016, 0.8 million and 1.0 million stock options and RSUs, respectively, and all potentially convertible Series A Preferred Stock shares were excluded from the calculation of diluted EPS under the two-class method because the effect would be anti-dilutive. If converted, Series A Preferred Stock would represent approximately 15.9% of the Company's common stock outstanding, or 13.8 million additional common shares as of June 30, 2017.