Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2022

NET INCOME (LOSS) PER COMMON SHARE

Please refer to Note 1 for information regarding the Company’s treatment of its preferred stock and stock awards in the calculation of its basic and diluted net income (loss) per common share and to Note 7 for information regarding the Company’s stock award activity for the periods presented. The following table presents the computations of basic and diluted net income (loss) per common share for the periods indicated:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Weighted average number of common shares outstanding - basic	39,190,251		31,973,587		37,964,617		29,395,463
Incremental common shares-unsettled RSUs	110,629		—		110,629		55,019
Incremental common shares-unsettled PSUs	257,582		—		257,582		110,040
Weighted average number of common shares outstanding - diluted	39,558,462		31,973,587		38,332,828		29,560,522

Net income (loss) to common shareholders	$	27,413	$	(45,682)	$	142,699	$	66,701
Net income (loss) per common share-basic	$	0.70	$	(1.43)	$	3.76	$	2.27
Net income (loss) per common share-diluted	$	0.69	$	(1.43)	$	3.72	$	2.26

For the three months ended June 30, 2021, 165,059 of potentially dilutive RSUs and PSUs were excluded from the computation of diluted net loss per common share because including them would have been anti-dilutive for the period.