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, 2018

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

Basic and diluted earnings per share for the three months ended March 31, 2018 and 2017, respectively consisted of the following (in thousands, except per share data):


	Three Months Ended March 31,
	2018			2017
Numerator (Basic and Diluted):
Net income	$	18,011		$	12,000

Denominator:
Basic
Weighted average common shares issued and outstanding		38,547			38,047
Deduct: Unvested RSAs ⁽¹⁾		(31	)		(29	)
Add: Fully vested DSUs ⁽²⁾		579			930

Weighted Average Common Shares Outstanding		39,095			38,948

Basic earnings per common share	$	0.46		$	0.31

Diluted
Weighted Average Common Shares Outstanding from above		39,095			38,948
Add: Dilutive effect of RSUs, RSAs & ESPP		155			160

Weighted Average Common Shares Outstanding		39,250			39,108

Diluted earnings per common share	$	0.46		$	0.31

Antidilutive shares excluded from diluted earnings per common share ⁽³⁾		291			299

⁽¹⁾	RSAs were issued and outstanding to the non-employee directors and have a one-year or 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 10 – “Stock-Based Compensation Plans” for additional information.

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