Company: ONEW
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001772921-25-000013
Chunk: 93

Company: OneWater Marine Inc.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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$(7,170)  Denominator:  Weighted-average number of unrestricted outstanding common shares used to calculate basic net loss per share14,83114,540Effect of dilutive securities:  Restricted stock units——Employee stock purchase plan ——Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted net earnings per share14,83114,540  Net loss per share of Class A common stock – basic$(0.81)$(0.49)Net loss per share of Class A common stock – diluted$(0.81)$(0.49)On March 30, 2022, the Board approved a share repurchase program up to $50 million. No shares of Class A common stock were repurchased by the Company during the three months ended December 31, 2024. As of December 31, 2024 the Company has repurchased and retired 73,487 shares of Class A common stock under the repurchase program for a purchase price of approximately $1.9 million. As of December 31, 2024, approximately $48.1 million remained available for future purchase under the repurchase program. The repurchase program does not have a predetermined expiration date.Shares of Class B common stock and unvested restricted stock units do not share in the income (losses) of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted net earnings per share of Class B common stock under the two-class method has not been presented. The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net earnings per share because the effect of including such potentially dilutive shares would have been antidilutive upon conversion (in thousands):Three Months Ended December 31, 2024Three Months Ended December 31, 2023Class B common stock1,4301,430Restricted Stock Units105495Employee Stock Purchase Plan9261,5441,951Employee Stock Purchase PlanAt the Company’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”), held on February 23, 2021, the Company’s stockholders approved the OneWater Marine Inc. 2021 Employee Stock Purchase Plan (the “ESPP”), which was approved and adopted by the Board as of January 13, 2021 (the “Adoption Date”), subject to stockholder approval at the Annual Meeting. The effective date of the ESPP is February 23, 2021,