| Earnings per Share |
earnings per share for the three and nine months ended September 30, 2021 and 2020, respectively consisted of the following (in thousands, except per share data):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Numerator (Basic and Diluted): |
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$ |
33,924 |
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$ |
6,040 |
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$ |
80,468 |
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$ |
19,216 |
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Change in value for stock settled consideration |
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(2 |
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— |
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8 |
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— |
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$ |
33,922 |
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$ |
6,040 |
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$ |
80,476 |
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$ |
19,216 |
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Weighted average common shares issued and outstanding |
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39,634 |
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39,357 |
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39,539 |
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39,293 |
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Deduct: Unvested RSAs (1)
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(13 |
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(18 |
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(14 |
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(18 |
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Add: Fully vested DSUs (2)
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319 |
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342 |
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334 |
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342 |
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Weighted average common shares outstanding |
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39,940 |
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39,681 |
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39,859 |
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39,617 |
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Basic earnings per common share |
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$ |
0.85 |
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$ |
0.15 |
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$ |
2.02 |
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$ |
0.49 |
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Weighted average common shares outstanding from above |
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39,940 |
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39,681 |
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39,859 |
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39,617 |
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Add: Dilutive effect of RSUs, RSAs & ESPP |
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188 |
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46 |
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176 |
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59 |
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Add: Contingently issuable shares
(3)
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113 |
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— |
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113 |
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— |
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Weighted average common shares outstanding |
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40,241 |
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39,727 |
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40,148 |
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39,676 |
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Diluted earnings per common share |
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$ |
0.84 |
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$ |
0.15 |
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$ |
2.00 |
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$ |
0.48 |
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Antidilutive shares excluded from diluted earnings per common share
(4)
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112 |
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696 |
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363 |
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719 |
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(1) |
RSAs were issued and outstanding to the non-employee directors and have a one-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) |
Relates to contingently issuable stock settled consideration. |
(4) |
Primarily pertaining to RSU grants to the Company’s employees and independent contractors. |
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