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, 2017

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, 2017 and 2016, respectively consisted of the following (in thousands, except per share data):


	Three Months Ended March 31,
	2017			2016
Numerator (Basic and Diluted):
Net income	$	12,000		$	14,815

Denominator:
Basic
Weighted average common shares issued and outstanding		38,047			37,561
Deduct: Unvested RSAs ⁽¹⁾		(29	)		(35	)
Add: Fully vested DSUs ⁽²⁾		930			1,365

Weighted Average Common Shares Outstanding		38,948			38,891

Basic earnings per common share	$	0.31		$	0.38

Diluted
Weighted Average Common Shares Outstanding from above		38,948			38,891
Add: Dilutive effect of RSUs, RSAs & ESPP		160			65

Weighted Average Common Shares Outstanding		39,108			38,956


Diluted earnings per common share	$	0.31		$	0.38


Antidilutive shares excluded from diluted earnings per common share ⁽³⁾		299			417

⁽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⁾	Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 9 – “Stock-Based Compensation Plans” for additional information.

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