Net Income Attributable to Green Brick Partners, Inc. Per Share

6 Months Ended

Jun. 30, 2021

Net Income Attributable to Green Brick Partners, Inc. Per Share

EARNINGS PER SHARE

The Company’s RSAs have the right to receive forfeitable dividends on an equal basis with common stock and therefore are not considered participating securities that must be included in the calculation of net income per share using the two-class method.

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during each period, adjusted for nonvested shares of RSAs during each period. Diluted earnings per share is calculated using the treasury stock method and includes the effect of all dilutive securities, including stock options and RSAs.

The computation of basic and diluted net income attributable to Green Brick Partners, Inc. per share is as follows (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net income attributable to Green Brick Partners, Inc.	$	52,263	$	33,647	$	78,232	$	49,564

Weighted-average number of shares outstanding - basic	50,701		50,583		50,667		50,519
Basic net income attributable to Green Brick Partners, Inc. per share	$	1.03	$	0.67	$	1.54	$	0.98

Weighted-average number of shares outstanding - basic	50,701		50,583		50,667		50,519
Dilutive effect of stock options and restricted stock awards	363		109		362		150
Weighted-average number of shares outstanding - diluted	51,064		50,692		51,029		50,669
Diluted net income attributable to Green Brick Partners, Inc. per share	$	1.02	$	0.66	$	1.53	$	0.98

The following shares which could potentially dilute earnings per share in the future are not included in the determination of diluted net income attributable to Green Brick Partners, Inc. per common share (in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Antidilutive options to purchase common stock and restricted stock awards	—	40	—	20