Loss per Common Share

3 Months Ended

Mar. 31, 2026

Basic loss per share and Diluted loss per share are calculated by dividing the Net loss attributable to common stockholders by the basic and diluted weighted-average common stock outstanding in the period, respectively, using the allocation method prescribed by the two-class method. The Company applies this method to compute earnings/loss per common share because it distributes non-forfeitable dividend equivalents on restricted stock units and Operating Partnership units granted to certain associates and non-employee directors who have the right to participate in the distribution of common dividends while the restricted stock units and Operating Partnership units are unvested.

A reconciliation of the basic and diluted weighted-average common stock outstanding for the three months ended March 31, 2026 and 2025 is as follows:


	Three Months Ended March 31,
		2026	2025
	(In thousands)
Weighted average common stock outstanding – basic		286,263	285,363
Dilutive effect of stock-based awards		—	—
Weighted average common stock outstanding – diluted		286,263	285,363

For the three months ended March 31, 2026 and 2025, potential common stock under the treasury stock method and the if-converted method were antidilutive because the Company reported a Net loss for such periods. Consequently, the Company did not have any adjustments between Basic and Diluted loss per share related to stock-based awards for those periods.

The table below presents the number of antidilutive potential common shares that are not considered in the calculation of Diluted loss per share:


	Three Months Ended March 31,
		2026	2025
		(In thousands)
Employee stock options		10	37
Restricted stock units		798	576
Operating Partnership units		443	32
Total		1,251	645