Company: MGRC
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000950170-25-098322
Chunk: 8

Company: MCGRATH RENTCORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 on the Company's condensed consolidated balance sheets.

NOTE 5. EARNINGS PER SHARE
Basic earnings per share (“ EPS”) is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed assuming conversion of all potentially dilutive securities including the dilutive effect of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share:
Three Months Ended Six Months Ended
June 30, June 30,
(in thousands) 2025 2025
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Weighted-average number of shares of common stock for 24,611 24,549 24,592 24,531
Effect of potentially dilutive securities from equity-based 7 11 28 31
Weighted-average number of shares of common stock for 24,618 24,560 24,620 24,562
There were85,512 and73,190 anti-dilutive securities excluded from the computation of diluted earnings per share for the six months ended June 30, 2025 and 2024, respectively.
The Company has in the past made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In September 2024, the Company's Board of Directors increased the capacity under the share repurchase program by authorizing the Company to repurchase up to2,000,000 shares of the Company's outstanding common stock (the "Repurchase Plan"), an increase from the1,309,805 remaining shares authorized for repurchase under the Repurchase Plan established in August 2015. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased, and the Repurchase Plan may be modified, extended or terminated by the Company’s Board of Directors at any time. There were no shares repurchased during the