EARNINGS (LOSS) PER CLASS A SHARE

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Earnings (Loss) Per Class A Share

EARNINGS (LOSS) PER CLASS A SHARE

The table below presents basic and diluted net income (loss) per share of Class A common stock using the two-class method for the three months ended March 31, 2017 and 2016:

	For the Three Months Ended March 31,
	(unaudited)
	2017			2016
	(Amounts in thousands, except share and per share amounts)
Basic and diluted net income per share:
Numerator
Net income attributable to Medley Management Inc.	$	394		$	94
Less: Allocation to participating securities	(22		)	(158		)
Net income (loss) available to Class A common stockholders	$	372		$	(64	)
Denominator
Weighted average shares of Class A common stock outstanding	5,808,626			5,851,129
Net income (loss) per Class A share	$	0.06		$	(0.01	)

The Company declared a $0.20 dividend per share of Class A common stock on February 11, 2016 and February 9, 2017 which were paid on March 4, 2016 and March 6, 2017 respectively. The allocation to participating securities above generally represents dividends paid to holders of unvested restricted stock units and, in 2017, restricted LLC units, which reduces net income available to common stockholders.

The weighted average shares of Class A common stock is the same for both basic and diluted earnings per share as the diluted amount excludes the assumed conversion of 23,333,333 LLC Units to shares of Class A common stock, the impact of which would be antidilutive.