Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Reconciliation of Common Shares Used for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the weighted average shares denominator used for basic net income per share to the denominator used for diluted net income per share:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Basic weighted average shares outstanding denominator	46,576,673	46,166,666	46,446,087	46,113,495
Effect of potential dilutive shares (1):
Stock options	—	—	—	—
Warrants	—	—	—	—
Restricted stock units	—	—	—	—
Performance stock units (2)	—	—	—	—
Diluted weighted average shares outstanding denominator	46,576,673	46,166,666	46,446,087	46,113,495
Anti-dilutive shares excluded from the above reconciliation:
Stock options	—	16,667	—	16,667
Warrants	4,877,617	4,877,749	4,877,617	4,877,757
Restricted stock units	518,306	288,562	453,236	262,395
Performance stock units (2)	434,081	997,841	435,059	929,057

(1) For the three and six months ended June 30, 2021 and the three and six months ended June 30, 2020, Ambac had a net loss and accordingly excluded all potentially dilutive securities from the determination of diluted loss per share as their impact was anti-dilutive.

(2) Performance stock units are reflected based on the performance metrics through the balance sheet date. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.