Company: DMRC
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014773
Chunk: 11

Company: Digimarc CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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 Value 

        Unvested balance, December 31, 2024 

       215

       $
       32.08

        Change in units based on performance expectations 

       (5
       )
        
       $
       42.43

        Granted 

       —

       $
       —

        Vested 

       (49
       )
        
       $
       42.43

        Forfeited 

       —

       $
       —

        Unvested balance, March 31, 2025 

       161

       $
       28.60

   The fair value of PRSU awards vested is as follows:

        Three Months Ended March 31, 

        2025 

        2024 

        Fair value of PRSU awards vested 
        
       $
       1,707

       $
       2,370

   6. Shareholders’ Equity
    
   Registered Direct Offering
    
   On  February 24, 2024, the Company entered into purchase agreements with certain investors providing for the issuance and sale by the Company of 929 shares of common stock in a registered direct stock offering. The common shares were offered at a price of $35.00 per share, and the gross cash proceeds to the Company were $32,500. We incurred $282 of legal costs related to the offering. The closing of the registered direct offering occurred on  February 27, 2024.

       14

        DIGIMARC CORPORATION

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

        (In thousands, except per share data)

        (UNAUDITED)

   7. Earnings Per Share
    
   The Company calculates basic and diluted earnings per share in accordance with Accounting Standards Codification (“ASC”) No. 260, “Earnings Per Share,” using the treasury stock method. 
    
   Basic earnings per share excludes dilution and is calculated by dividing earnings by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing earnings by the weighted-average number of common shares, as adjusted for the potentially dilutive effect of unvested RSUs and PRSUs. The dilutive effect of unvested RSUs and PRSUs is determined using the treasury stock method. RSAs are included in shares outstanding on the date of grant.
    
   The following table reconciles earnings (loss) per share: