XML 48 R37.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following is a summary of the basic and diluted net loss per share computation for the periods presented:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except share and per share data)2024202320242023
Net loss attributable to common stockholders$(46,600)$(31,357)$(81,287)$(37,346)
Adjustments to net loss attributable to common stockholders for common share equivalents (168)(238)(402)(477)
Adjusted net loss attributable to common stockholders$(46,768)$(31,595)$(81,689)$(37,823)
Weighted average common shares outstanding — Basic and Diluted230,380,574 104,148,850 230,350,148 103,966,910 
Net loss per share attributable to common stockholders — Basic and Diluted$(0.20)$(0.30)$(0.35)$(0.36)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table shows common share equivalents on a weighted average basis that were excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2024 and 2023 (see Note 13 — Equity-Based Compensation for additional information on all of the common share equivalents listed in the table below):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Unvested RSUs (1)
1,065,245 22,089 843,200 34,481 
Unvested Restricted Shares (2)
452,343 352,333 507,034 356,066 
Unvested PSUs (3)
1,288,072 — 1,288,072 — 
Class A Units (4)
115,857 — 115,857 — 
GNL LTIP Units (5)
— 2,500,000 — 2,500,000 
Total common share equivalents excluded from EPS calculation2,921,517 2,874,422 2,754,163 2,890,547 
(1) There were 1,122,852 and 49,536 unvested RSUs issued and outstanding as of June 30, 2024 and 2023, respectively.
(2) There were 362,285 and 536,340 unvested Restricted Shares issued and outstanding as of June 30, 2024 and 2023, respectively.
(3) There were 1,288,072 PSUs outstanding as of June 30, 2024 and none outstanding as of June 30, 2023.
(4) There were 115,857 Class A Units outstanding as of June 30, 2024 and none outstanding as of June 30, 2023.
(5) The performance period under the 2021 OPP was accelerated and ended on September 11, 2023 and 883,750 GNL LTIP Units became earned and vested and Common Stock was issued for the vested GNL LTIP Units. As a result, there were no GNL LTIP Units issued and outstanding under the 2021 OPP as of June 30, 2024 and there were 2,500,000 GNL LTIP Units issued and outstanding under the 2021 OPP as of June 30, 2023.