Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
11. Earnings Per Share

Earnings per share information has not been presented for periods prior to the IPO on October 31, 2013. See Note 2 – “Accounting Policies” for additional information.

 

The following table sets forth the computation of basic and diluted earnings per share subsequent to the IPO for the period ended December 31, 2013 (in thousands, except per share data):

 

     Period Ended
December 31, 2013		  

Numerator:

   

Net income attributable to Marcus &Millichap, Inc. subsequent to IPO on October 31, 2013

    $ 9,251   
  

 

 

  

Denominator:

   

Weighted average common shares outstanding (1)

      38,787   

Effect of dilutive securities:

   

Add: RSUs and RSAs

      28   
  

 

 

  

Dilutive potential common shares

      38,815   
  

 

 

  

Basic earnings per common share

    $ 0.24   
  

 

 

  

Diluted earnings per common share

    $ 0.24   
  

 

 

  

 

(1)  Includes DSUs of 2.2 million shares, which are considered contingently issuable shares and are included in weighted average common shares outstanding in accordance with ASC 260. DSUs were fully vested upon receipt and will be settled in actual stock at a rate of 20% per year if the participant remains employed by the Company during that period (or otherwise all unsettled shares of stock upon termination of employment will be settled five years from the termination date). Note 8 – “Stock-based Compensation Plans” for additional information.

As discussed in Note 7 – “Stockholders Equity” above, following the IPO, the Company does not intend to pay a regular dividend. Accordingly, an adjustment to the numerator for basic and diluted earnings per common share presentation related to certain of the Company’s restricted stock awards that are considered participating securities was not necessary.