v3.26.1
Net Income Per Share (Tables)
3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Reconciliation of Common Shares Used for Basic and Diluted Earnings Per Share
The following table provides a reconciliation of the weighted-average shares used for basic net income (loss) per share to the weighted-average diluted shares used for diluted net income
(loss) per share for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,20262025
Basic WASO denominator45,302,933 47,313,012 
Effect of potential dilutive shares :
Restricted stock units — 
Performance stock units (1)
 — 
Diluted WASO denominator 45,302,933 47,313,012 
Anti-dilutive shares excluded from the above reconciliation:
Warrants (2)
5,092,707 
— 
Options (2)
1,134,500 
— 
Restricted stock units
603,675 
411,433 
Performance stock units (1)
239,720 
145,197 
(1)    Performance stock units are reflected based on the performance metrics through the balance sheet date. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.
(2)    Options require the OSG's stock price to exceed certain market price hurdles to vest, none of which have been met. Warrants have an exercise price above the market price of OSG stock during the period. Amounts shown reflect the maximum number of shares issuable upon exercise, weighted for the time outstanding during the periods.
Schedule of Earnings Per Share, Basic and Diluted
The following table provides a reconciliation of net income (loss) from continuing operations attributable to common stockholders to the numerator in the basic and diluted earnings (loss) per share calculation, together with the resulting earnings (loss) per share ("EPS") amounts for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,20262025
Net income (loss) attributable to common stockholders$(6,851)$(46,391)
Adjustment to redemption value (ASC 480)807 (10,825)
Numerator of basic and diluted EPS$(6,044)$(57,216)
Per share:
Basic$(0.13)$(1.21)
Diluted$(0.13)$(1.21)
Schedule of Repurchased Shares
The following table shows shares repurchased by year.
($ in thousands,
except per share)
Year Ended December 31,
YTD
2026
20242025
Shares repurchased937,1413,434,7450
Total cost$11,678 $29,942 $— 
Average purchase price per share$12.48 $8.72 $ 
Unused authorization amount$8,449