Net Income Per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2022

Net Income Per Share Attributable to Common Stockholders

Note 7 – Net Income Per Share Attributable to Common Stockholders

Basic earnings per share attributable to common stockholders (“EPS”) is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net

income attributable to common stockholders by the common shares plus common share equivalents. The Company’s common share equivalents are unvested restricted shares. The Company excludes antidilutive restricted shares from the calculation of weighted-average shares for diluted earnings per share. There were zero antidilutive restricted shares for the three and nine months ended September 30, 2022. There were zero and 41 antidilutive restricted shares for the three and nine months ended September 30, 2021. For further information about the Company’s restricted shares, see “Note 11 – Equity-Based Compensation.”

The following table is a summary of the basic and diluted net income per share computation for the three and nine months ended September 30, 2022 and 2021:


	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Net income attributable to common stockholders	$	2,482	$	2,462	$	5,083	$	7,125
Weighted average shares outstanding, basic		10,559,680		11,433,665		10,707,177		11,570,868
Dilutive effect of restricted stock		909		640		1,601		263
Weighted average shares outstanding, diluted		10,560,589		11,434,305		10,708,778		11,571,131
Net income attributable to common stockholders per share, basic and diluted	$	0.24	$	0.22	$	0.47	$	0.62