Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 113

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 113
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 $105,270 $105,270 Net income attributable to noncontrolling interest (2)— 4,617 — 9,090 Interest expense on convertible notes (3)— — — — Net income attributable to common stockholders and noncontrolling interest$54,389 $59,006 $105,270 $114,360 Weighted average shares outstanding191,154,501191,154,501188,683,095188,683,095Dilutive effect of OP Units (2)—16,211,314—16,293,589Dilutive effect of convertible notes (3)————Dilutive effect of RSUs (4)—572,759—522,935Weighted average shares outstanding 191,154,501207,938,574188,683,095205,499,619Net income per common share (1)$0.28 $0.28 $0.56 $0.56 ________________________(1)Net of preferred stock dividends.(2)We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.(3)The three and six months ended June 30, 2025 excludes interest expense of $6.1 million and $12.2 million, respectively, and potentially dilutive shares of 17,471,534 and 17,543,663, respectively, attributable to convertible debt since their effect would have been anti-dilutive.(4)Our chief executive officer was granted RSUs, which vest at the end of a 4-year performance period based upon our achievement of total stockholder return objectives.

Note 17 — Income Taxes

As a REIT, we are generally not subject to U.S. federal income tax to the extent of our distributions to stockholders and as long as certain asset, income, distribution, ownership and administrative tests are met. To maintain our qualification as a REIT, we must annually distribute at least 90% of our REIT-taxable income to our stockholders and meet certain other requirements. We may also be subject to certain state, local and franchise taxes. Under certain circumstances, federal income and excise taxes may be due on our undistributed taxable income. If we were to fail to meet these requirements, we would be