13. Income (Loss) Per Share

The following table provides a reconciliation of net income (loss) attributable to common shareholders and weighted average common shares outstanding for basic and diluted income (loss) per share for the periods presented:


	Three Months Ended March 31,
	2019		2018
	(in thousands, except per share amounts)
Net Income (Loss):
Net income (loss)	$	(17,807)	$	4,004
Participating securities—non-vested restricted stock		—		(99)
Basic and diluted income (loss)	$	(17,807)	$	3,905

Common Shares:
Common shares outstanding — basic (1)		22,837		25,299
Dilutive effect of potential common shares		—		—
Common shares outstanding — diluted		22,837		25,299

Net Income (Loss) Per Share:
Basic	$	(0.78)	$	0.15
Diluted	$	(0.78)	$	0.15
Antidilutive stock options (2)		206		500
Antidilutive warrants (3)		6,980		6,626

(1)

Weighted-average common shares outstanding for basic and diluted income per share purposes includes 9,407 shares of common stock that, while not issued and outstanding at March 31, 2019 or 2018, respectively, are required by the First Amended Joint Chapter 11 Plan of Reorganization of Midstates Petroleum Company, Inc. and its Debtor Affiliate as filed on September 28, 2016 (the “Plan”) to be issued. Weighted-average common shares outstanding for basic and diluted income per share purposes also includes 79,389 director shares that were vested as of March 31, 2019, but final issuance of the vested shares was deferred by the non-employee directors until 2021.

(2)

Amount represents options to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.

(3)

Amount represents warrants to purchase common stock that are excluded from the diluted net income per share calculations because of their antidilutive effect.