Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 107

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 107
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 issuance of the Series I Preferred Stock, which were recorded net of underwriters' discount and issuance costs, and contributed the net proceeds to the Operating Partnership in exchange for 9,200,000 units of 6.50% Series I Cumulative Redeemable Preferred Units of limited partnership interest, or the Series I Preferred Units.Dividend Reinvestment and Stock Purchase Plan ("DRSPP")In February 2024, the Company filed a registration statement with the SEC for our dividend reinvestment and stock purchase plan, or DRSPP, which automatically became effective upon filing. The Company registered 3,500,000 shares of our common stock under the DRSPP. The DRSPP commenced on September 24, 2001.The following table summarizes SL Green common stock issued, and proceeds received from dividend reinvestments and/or stock purchases under the DRSPP for the years ended December 31, 2024, 2023, and 2022, respectively (dollars in thousands):Year Ended December 31,202420232022Shares of common stock issued728,352 17,180 10,839 Dividend reinvestments/stock purchases under the DRSPP$52,308 $525 $525 Earnings per ShareWe use the two-class method of computing earnings per share (“EPS”), which is an earnings allocation formula that determines EPS for common stock and any participating securities according to dividends declared (whether paid or unpaid). Under the two-class method, basic EPS is computed by dividing the income available to common stockholders by the weighted-average number of common stock shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from share equivalent activity.SL Green's earnings per share for the years ended December 31, 2024, 2023, and 2022 are computed as follows (in thousands):Year Ended December 31,Numerator202420232022Basic Earnings:Income (loss) attributable to SL Green common stockholders$7,060 $(579,509)$(93,024)Less: distributed earnings allocated to participating securities(1,835)(2,655)(2,219)Less: undistributed earnings allocated to participating securities(64)— — Net income (loss) attributable to SL Green common stockholders (numerator for basic earnings per share)$5,161 $(582,164)$(95,243)Add back: dilutive effect of earnings allocated to participating securities and contingently issuable