Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 91

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 performance-based restricted stock units (“RSUs”) with a grant date fair value of $2.7 million that vest at the end of a four-year performance period based on the achievement of certain stockholder return objectives.We also issued 47,725 fully-vested RSUs with a grant date fair value of $0.6 million to certain members of our Board of Directors, who have decided to defer the receipt of the common stock, into which the RSUs are converted, to a future date pursuant to a pre-established deferral election.During the first quarter of 2025, we withheld 257,167 shares from the net settlement of restricted common stock by employees for payment of withholding taxes on shares that vested.Earnings Per Share (“EPS”). Basic EPS is calculated by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during each period inclusive of unvested restricted stock with full dividend participation rights. Diluted EPS is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding, plus the additional dilutive effect of common stock equivalents during each period. Our common stock equivalents include the weighted average dilutive effect of RSUs, OP Units and convertible senior unsecured notes.A reconciliation of the numerator and denominator of our basic and diluted EPS computations is as follows ($ in thousands, except share and per share data):Three Months Ended March 31,20252024BasicDilutedBasicDilutedNet income attributable to common stockholders (1)$30,438 $30,438 $57,873 $57,873 Net income attributable to noncontrolling interest (2)— 2,602 — 4,997 Interest expense on convertible notes (3)— — — 6,084 Net income attributable to common stockholders and noncontrolling interest$30,438 $33,040 $57,873 $68,954 Weighted average shares outstanding190,060,776190,060,776188,710,390188,710,390Dilutive effect of OP Units (2)—16,249,284—16,293,589Dilutive effect of convertible notes (3)———17,414,547Dilutive effect of RSUs (4)—552,260—507,550Weighted average shares outstanding 190,060,776 206,862,320188,710,390222,926,076Net income per common