Basic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025 were as follows:


	Three Months Ended
	September 30, 2026				September 30, 2025
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	32,602	$	32,602	$	127,927	$	127,927

Average equivalent shares
Shares of common stock	63,523		63,523		65,709		65,709
Effect of dilutive stock-based compensation
Stock options	260		—		491		—
Restricted stock	364		—		430		—
Total average equivalent shares	64,147		63,523		66,630		65,709
Net income per share	$	0.51	$	0.51	$	1.92	$	1.95


	Nine Months Ended
	September 30, 2026				September 30, 2025
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	192,849	$	192,849	$	318,445	$	318,445

Average equivalent shares
Shares of common stock	63,733		63,733		65,989		65,989
Effect of dilutive stock-based compensation
Stock options	260		—		549		—
Restricted stock	380		—		505		—
Total average equivalent shares	64,373		63,733		67,043		65,989
Net income per share	$	3.00	$	3.03	$	4.75	$	4.83