Marcus & Millichap, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2016

Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015, respectively (in thousands, except per share data):


	Three Months Ended March 31,
	2016			2015
Numerator (Basic and Diluted):
Net income	$	14,815		$	13,669

Denominator:
Basic
Weighted average common shares issued and outstanding		37,561			37,066
Deduct: Unvested RSAs ⁽¹⁾		(35	)		(43	)
Add: Fully vested DSUs ⁽²⁾		1,365			2,006

Weighted Average Common Shares Outstanding		38,891			39,029


Basic earnings per common share	$	0.38		$	0.35

Diluted
Weighted Average Common Shares Outstanding from above		38,891			39,029
Add: Dilutive effect of RSUs, RSAs & ESPP		65			123

Weighted Average Common Shares Outstanding		38,956			39,152


Diluted earnings per common share	$	0.38		$	0.35


Antidilutive shares excluded from diluted earnings per common share ⁽³⁾		417			479

⁽¹⁾	RSAs were issued and outstanding to the non-employee directors and have a three year vesting term subject to service requirements. See Note 9 – “Stock-Based Compensation Plans” for additional information.

⁽²⁾	Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 8 – “Stockholders’ Equity” for additional information.

⁽³⁾	Primarily pertaining to RSU grants to the Company’s independent contractors.