Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2026

NET INCOME (LOSS) PER COMMON SHARE

Please refer to Note 1 for information regarding the Company’s treatment of its preferred stock and stock

awards in the calculation of its basic and diluted net income or loss per common share and to Note 7 for information

regarding the Company’s stock award activity for the periods presented. The following table presents the

computations of basic and diluted net income or loss per common share for the periods indicated:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
($s in thousands)	2026	2025	2026	2025
Weighted average number of common shares outstanding - basic	251,842,414	135,952,339	224,905,226	113,373,853
Incremental common shares-unvested RSUs	—	274,356	—	226,232
Incremental common shares-unvested PSUs	—	701,290	—	602,317
Weighted average number of common shares outstanding - diluted	251,842,414	136,927,985	224,905,226	114,202,402

Net (loss) income to common shareholders	$(338,305)	$147,561	$(243,182)	$126,276
Net (loss) income per common share-basic	$(1.34)	$1.09	$(1.08)	$1.11
Net (loss) income per common share-diluted	$(1.34)	$1.08	$(1.08)	$1.11

The calculation of diluted net loss per common share for the three and nine months ended September 30,

2026 excludes unvested RSUs and PSUs of 1,110,881 and 1,041,255, respectively, which would have been anti-

dilutive for those periods.