Marcus & Millichap, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Earnings per Share

Earnings per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings per Share

13.

Earnings per Share

Basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 consisted of the following (in thousands, except per share data):


	Years Ended December 31,
	2016			2015			2014
Numerator (Basic and Diluted):
Net income	$	64,657		$	66,350		$	49,531

Denominator:
Basic
Weighted Average Common Shares Issued and Outstanding		37,637			37,141			36,660
Deduct: Unvested RSAs ⁽¹⁾		(36	)		(43	)		(43	)
Add: Fully vested DSUs ⁽²⁾		1,298			1,750			2,234

Weighted Average Common Shares Outstanding		38,899			38,848			38,851

Basic earnings per common share	$	1.66		$	1.71		$	1.27

Diluted
Weighted Average Common Shares Outstanding from above		38,899			38,848			38,851
Add: Dilutive effect of RSUs, RSAs & ESPP		136			314			127

Weighted Average Common Shares Outstanding		39,035			39,162			38,978

Diluted earnings per common share	$	1.66		$	1.69		$	1.27

Antidilutive shares excluded from diluted earnings per common share ⁽³⁾		516			79			817

⁽¹⁾	RSAs were issued and outstanding to the non-employee directors and have a three year vesting term subject to service requirements. See Note 10 – “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 9 – “Stockholders’ Equity” for additional information.

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