Net Loss Per Share

12 Months Ended

Dec. 31, 2021

The following is a summary of the basic and diluted net loss per share computation for the years ended December 31, 2021, 2020 and 2019 and has been retroactively adjusted to reflect the Stock Dividend (see Note 1 — Organization for additional details):


	Year Ended December 31,
	2021		2020		2019
Net loss attributable to stockholders (in thousands)	$	(92,942)	$	(78,781)	$	(88,087)
Basic and diluted weighted-average shares outstanding (1)	100,534,438		100,312,245		100,093,694
Basic and diluted net loss per share (1)	$	(0.92)	$	(0.79)	$	(0.88)

(1) Retroactively adjusted for the effects of the Stock Dividends (see Note 1 — Organization for additional details).

Diluted net loss per share assumes the conversion of all common stock equivalents into an equivalent number of shares of common stock, unless the effect is antidilutive. The Company considers unvested restricted shares, OP Units and Class B Units to be common share equivalents. The Company had the following common stock equivalents on a weighted-average basis that were excluded from the calculation of diluted net loss per share attributable to stockholders as their effect would have been antidilutive. The amounts in the table below have been retroactively adjusted to reflect the Stock Dividend (see Note 1 — Organization for additional details):


	December 31,
	2021	2020	2019
Unvested restricted shares (1)	202,782	273,151	332,514
OP Units (2)	442,014	442,014	442,014
Class B Units (3)	391,119	391,119	391,119
Total weighted average antidilutive common share equivalents	1,035,915	1,106,284	1,165,647

________

(1) Weighted average number of antidilutive unvested restricted shares outstanding for the periods presented. There were 159,427, 215,384 and 277,241 unvested restricted shares outstanding as of December 31, 2021, 2020 and 2019, respectively.

(2) Weighted average number of antidilutive OP Units held by unaffiliated third parties presented as shares outstanding for the periods presented, at the current conversion rate as retroactively adjusted for the effect of the Stock Dividends. There were 405,998 OP Units outstanding as of December 31, 2021, 2020 and 2019.

(3) Weighted average number of antidilutive Class B Units presented as shares outstanding for the periods presented, at the current conversion rate as retroactively adjusted for the effect of the Stock Dividends. There were 359,250 Class B Units outstanding as of December 31, 2021, 2020 and 2019.