Orion Office REIT Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Net Income (Loss) Per Share

Orion Office REIT, Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Note 14 - Net Income (Loss) Per Share

The computation of basic and diluted earnings per share is as follows for the year ended December 31, 2022, 2021 and 2020 (in thousands, except share and per share data):


	Year Ended December 31,
	2022		2021		2020
Net loss	$	(97,474)	$	(47,464)	$	(1,899)
Income attributable to non-controlling interests	(20)		(17)		—
Net loss available to common stockholders used in basic and diluted net income per share	(97,494)		(47,481)		(1,899)






Weighted average shares of common stock outstanding - basic	56,631,826		56,625,650		56,625,650
Effect of dilutive securities (1)	—		—		—
Weighted average shares of common stock - diluted	56,631,826		56,625,650		56,625,650



Basic and diluted loss per share attributable to common stockholders	$	(1.72)	$	(0.84)	$	(0.03)

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(1)As of December 31, 2022, 2021 and 2020, 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 per share attributable to common stockholders, as the effect would have been antidilutive:


	Year Ended December 31,
	2022	2021	2020
Weighted average unvested Time-Based RSUs and Performance-Based RSUs (1)	—	—	—
Weighted average stock warrants	1,120,000	1,120,000	—

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