Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 107

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 million and $0.9 million of compensation expense for the three months ended March 31, 2025 and 2024, respectively, for performance-based units. The Company recognized $4.0 million and $4.4 million of compensation expense for the six months ended March 31, 2025 and 2024, respectively, which includes $1.5 million and $1.7 million of compensation expense for the six months ended March 31, 2025 and 2024, respectively, for performance-based units.

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The following table further summarizes activity related to restricted stock units for the six months ended March 31, 2025:Restricted Stock Unit AwardsNumber of Shares Weighted Average Grant Date Fair ValueUnvested at September 30, 2024542,119$27.20 Awarded364,05023.91 Vested(238,352)27.54 Forfeited— — Unvested at March 31, 2025667,817$25.29 As of March 31, 2025, the total unrecognized compensation expense related to outstanding equity awards was $7.8 million, which the Company expects to recognize over a weighted-average period of 1.4 years.We issue shares of our Class A common stock upon the vesting of performance-based restricted stock units and time-based restricted stock units. These shares are issued from our authorized and not outstanding common stock. In addition, in connection with the vesting of restricted stock units, we repurchase a portion of shares equal to the amount of employee income tax withholding. We recognize forfeitures of performance-based restricted stock units and time-based restricted stock units as the forfeitures occur.Net Loss Per ShareBasic and diluted net loss per share of Class A common stock is computed by dividing net income (loss) attributable to OneWater Inc by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive shares.The following table sets forth the calculation of net loss per share for the three months ended March 31, 2025 and 2024 (in thousands, except per share data):Net loss per share:Three Months Ended March 31, 2025Three Months Ended March 31, 2024Numerator:  Net loss attributable to OneWater Inc$(368)$(3,969)  Denominator:  Weighted-average number of unrestricted outstanding common shares