Earnings per share ("EPS") is calculated under the two-class method. Under the two-class method, all earnings (distributed and undistributed) are allocated to common stock and participating securities. The Company grants restricted stock awards to certain employees under its share-based compensation program, which entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock. These unvested restricted stock awards meet the definition of participating securities based on their respective rights to receive nonforfeitable dividends.

Diluted EPS incorporates the potential impact of contingently issuable shares. Diluted EPS is calculated under both the two-class and treasury stock methods, and the more dilutive amount is reported. Performance stock units ("PSUs") and unvested restricted stock awards are contingently issuable common shares and are included in diluted EPS if the effect is dilutive.


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Basic earnings per share
Net income attributable to the Company	$	2,759		$	4,744		$	11,548		$	4,794
Less: Earnings allocable to unvested restricted stock		(192	)		(260	)		(769	)		(519	)
Net income attributable to common shareholders		2,567			4,484			10,779			4,275
Weighted-average basic shares outstanding		30,456			31,150			30,438			31,348
Net income per share attributable to common shareholders	$	0.08		$	0.14		$	0.35		$	0.14

Diluted earnings per share (1)
Net income attributable to common shareholders	$	2,567		$	4,484		$	10,779		$	4,275
Weighted-average diluted shares outstanding		30,742			31,156			30,726			31,351
Net income per share attributable to common shareholders	$	0.08		$	0.14		$	0.35		$	0.14

(1)

For the three and six months ended June 30, 2025, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the three and six months ended June 30, 2025, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the three and six months ended June 30, 2025, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 30,832,900 and 30,828,038, respectively, including 90,604 and 102,232, respectively, contingently issuable shares related to unvested restricted stock awards. For the three and six months ended June 30, 2024, the computation of diluted EPS includes contingently issuable shares related to PSUs calculated under the treasury stock method. For the three and six months ended June 30, 2024, the computation of diluted EPS does not include contingently issuable shares related to unvested restricted stock awards due to their anti-dilutive nature. For the three and six months ended June 30, 2024, had the contingently issuable shares been dilutive, the denominator for diluted EPS would have been 31,183,259 and 31,370,543, respectively, including 26,957 and 19,532, respectively, contingently issuable shares related to unvested restricted stock awards.