Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 86

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 any time suspend solicitations and offers under the Preferred Equity Distribution Agreement. The Preferred Equity Distribution Agreement replaced the Company's prior preferred equity distribution agreement with a sales agent dated March 29, 2019, as amended on March 2, 2022 (collectively, the “Prior Preferred Equity Distribution Agreement”), pursuant to which approximately $100.0 million of aggregate value of the Company's preferred stock remained available for issuance prior to termination.  

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During the three and six months ended June 30, 2025, the Company issued 175,495 shares of Preferred Stock under the Preferred Equity Distribution Agreement, at an average price of $23.07 per share, resulting in total net proceeds to the Company of approximately $4.0 million. There were no shares of Preferred Stock issued under the Prior Preferred Equity Distribution Agreement during the three and six months ended June 30, 2024. As of June 30, 2025, approximately $46.0 million of Preferred Stock remains available for issuance under the Preferred Equity Distribution Agreement. 

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19.      (Loss) Earnings Per Common ShareThe Company calculates basic (loss) earnings per common share by dividing net (loss) income attributable to the Company's common stockholders for the period by weighted-average shares of common stock outstanding for that period. Diluted (loss) earnings per common share takes into account the effect of dilutive instruments, such as performance share units ("PSUs"), restricted stock units ("RSUs") and deferred stock units ("DSUs"), and the number of incremental shares that are to be added to the weighted-average number of shares outstanding.During the three months ended June 30, 2025, the PSUs, RSUs and DSUs awarded under the 2017 Plan were determined to be anti-dilutive and were not included in the calculation of diluted loss per common share. During the six months ended June 30, 2025, certain of the PSUs, RSUs and DSUs awarded under the 2017 Plan were determined to be dilutive and were included in the calculation of diluted earnings per common share under the treasury stock method. Under this method, common equivalent shares are calculated assuming that target PSUs and outstanding RSUs and DSUs vest according to the respective PSU, RSU and DSU agreements and unrecognized compensation cost is used to repurchase shares of the Company’s outstanding common stock at the average market price during the reported period. During the three and six months ended June 30, 2024