EARNINGS PER SHARE

Basic and diluted earnings per common share (“EPS”) for the three months ended March 31, 2018 and 2017 were:



	Three Months Ended March 31,
	2018			2017
	(in thousands)
Numerator:
Net income attributable to common stockholders	$	12,523		$	7,155
Less: Net income allocable to Series A convertible preferred stockholders ⁽¹⁾	(2,094		)	(1,127		)
Adjusted net income available to common stockholders - basic and diluted	$	10,429		$	6,028
Denominator:
Weighted average common shares outstanding - basic	68,705			73,810
Plus: dilutive effect of stock options and unvested restricted stock units	2,963			751
Weighted average common shares outstanding - diluted	71,668			74,561

Net income per common share:
Basic	$	0.15		$	0.08
Diluted	$	0.15		$	0.08

⁽¹⁾Represents the amount which would have been paid to preferred stockholders in the event the Company had declared a dividend on its common stock.

For the three months ended March 31, 2018 and 2017, 0.4 million and 0.8 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. If converted, Series A Preferred Stock would represent approximately 16.8% of the Company’s common stock outstanding, or 13.8 million additional common shares as of March 31, 2018.