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

Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Note 14 - Net Income (Loss) Per Share

The computation of basic and diluted earnings per share is as follows for the three months ended March 31, 2024 and 2023 (in thousands, except per share data):


	Three Months Ended March 31,
	2024		2023
Net loss	$	(26,226)	$	(8,874)
Income attributable to non-controlling interest	(6)		(11)
Net loss available to common stockholders used in basic and diluted net loss per share	(26,232)		(8,885)

Weighted average shares of common stock outstanding - basic	55,803		56,642
Effect of dilutive securities (1)	—		—
Weighted average shares of common stock - diluted	55,803		56,642

Basic and diluted net loss per share attributable to common stockholders	$	(0.47)	$	(0.16)

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(1)As of March 31, 2024 and 2023, there were no adjustments to the weighted average common shares outstanding used in the diluted calculation given that all potentially dilutive shares were anti-dilutive.

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


	Three Months Ended March 31,
	2024	2023
Weighted average unvested Time-Based RSUs (1)	55	18
Weighted average stock warrants	1,120	1,120

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(1)Net of assumed repurchases in accordance with the treasury stock method and exclude Performance-Based RSUs for which the performance thresholds have not been met by the end of the applicable reporting period.