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, 2015

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2015 and 2014, respectively (in thousands, except per share data):


	Three Months Ended March 31,
	2015			2014
Numerator (Basic and Diluted):
Net income	$	13,669		$	6,782

Denominator:

Basic

Weighted average common shares issued and outstanding		37,066			36,601
Deduct: Unvested RSAs ⁽¹⁾		(43	)		(30	)
Add: Fully vested DSUs ⁽²⁾		2,006			2,276

Weighted Average Common Shares Outstanding		39,029			38,847

Basic earnings per common share	$	0.35		$	0.17

Diluted

Weighted Average Common Shares Outstanding from above		39,029			38,847
Add: Dilutive effect of RSUs, RSAs & ESPP		123			60

Weighted Average Common Shares Outstanding		39,152			38,907

Diluted earnings per common share	$	0.35		$	0.17

⁽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⁾	DSUs shares are included in weighted average common shares outstanding as the DSUs were fully vested upon receipt. See Note 9 – “Stock-Based Compensation Plans” for additional information.