Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 215

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 215
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 to common stockholders - basic$28,750 $33,714 Dividends allocated to participating securities(155)(89)Net income (loss) to common stockholders - diluted28,595 33,625 Basic weighted average common shares outstanding24,179,039 24,722,285 Net effect of dilutive equity awards217,812 219,473 Diluted weighted average common shares outstanding24,396,851 24,941,758 Diluted earnings per common share$1.17 $1.35 

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18.     Equity Compensation Plan

On June 21, 2021, the Company established its sole equity compensation plan, the 2021 Equity Incentive Plan (the “Plan”), with 2,125,000 shares initially available for grant. As of December 31, 2024, 1,266,127 shares of common stock were available for grant under the Plan, which shares available are reduced by a target of 162,534 shares of common stock that may be issued upon the achievement of certain performance conditions under outstanding PSUs (as further described below) and 110,146 of time-based restricted stock awards that will vest upon the participants’ meeting the contractual service-based vesting conditions. Compensation expense for the years ended December 31, 2024 and 2023 related to these awards was approximately $1.3 million and $1.7 million, respectively. The unamortized compensation expense of the restricted stock awards issued under the Plan totaled approximately $792 thousand as of December 31, 2024. This cost will be recognized over a weighted average period of 1.9 years. Restrictions on the restricted stock awards outstanding lapse through July 1, 2028, as service conditions are completed and the awards vest accordingly. Holders of unvested restricted stock awards receive non-forfeitable dividends along with other common stockholders.Restricted Stock AwardsThe following table summarizes activity for our restricted stock awards during the years ended December 31, 2024 and 2023:Number of awardsWeighted average grant date fair market valueOutstanding as of December 31, 2022269,524 17.09 Granted101,456 8.05 Vested(113,088)16.76 Forfeited(61,539)16.28 Outstanding as of December 31, 2023196,353