Orion Office REIT Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Orion Office REIT, Net Income (Loss) Per Share

Orion Office REIT, Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2022

Note 14 - Net Income (Loss) Per Share

The computation of basic and diluted earnings per share is as follows for the three and nine months ended September 30, 2022 and September 30, 2021 (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net (loss) income	$	(53,029)	$	(1,423)	$	(78,481)	$	7,423
(Income) loss attributable to non-controlling interests	(18)		—		(43)		—
Net (loss) income available to common stockholders used in basic and diluted net income per share	(53,047)		(1,423)		(78,524)		7,423






Weighted average number of Common Stock outstanding - basic	56,635,038		56,625,650		56,630,086		56,625,650
Effect of dilutive securities (1)	—		—		—		—
Weighted average number of common shares - diluted	56,635,038		56,625,650		56,630,086		56,625,650



Basic and diluted net (loss) income per share attributable to common stockholders	$	(0.94)	$	(0.03)	$	(1.39)	$	0.13

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(1)As of September 30, 2021, there were no adjustments to the weighted average common shares outstanding used in the diluted calculation given there were no potentially dilutive shares.

The following were excluded from diluted net (loss) income per share attributable to common stockholders, as the effect would have been antidilutive:


	Nine Months Ended September 30,
		2022	2021
Weighted average unvested Time-Based Restricted Stock Units and Performance-Based Restricted Stock Units (1)		—	—
Weighted average stock warrants		1,120,000	—

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(1)Net of assumed repurchases in accordance with the treasury stock method.