Quarterly report pursuant to Section 13 or 15(d)

EQUITY AND EARNINGS PER SHARE (Tables)

v3.7.0.1
EQUITY AND EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Schedule of outstanding options
The following is a summary of the changes in the Company’s outstanding options for the three months ended March 31, 2017:
 
Number of Options
 
Weighted Average Strike Price
 
Weighted Average Life Remaining (in years)
Balance at December 31, 2016
5,126,906

 
$
2.79

 
 
Expired
(40,330
)
 
14.44

 
 
Balance at March 31, 2017
5,086,576

 
$
2.70

 
5.91
 
 
 
 
 
 
Exercisable at March 31, 2017
3,934,081

 
$
2.77

 
5.81


Schedule of outstanding options summary
As of March 31, 2017, the Company’s outstanding options were summarized as follows:
 
Issued Prior to 2011
 
Issued in 2011 and thereafter
 
Total
Held by the Manager
71,915

 
3,857,748

 
3,929,663

Issued to the Manager and subsequently transferred to certain of the Manager’s employees
4,085

 
1,152,495

 
1,156,580

Issued to the independent directors
—

 
333

 
333

Total
76,000

 
5,010,576

 
5,086,576

Weighted average strike price
$
12.44

 
$
2.55

 
$
2.70

Schedule of amounts used in computing basic and diluted EPS
The following table shows the amounts used in computing basic and diluted EPS:
 
 
Three Months Ended March 31,
 
 
2017
 
2016
Numerator for basic and diluted earnings per share:
 
 
 
 
(Loss) Income Applicable to Common Stockholders
 
$
(14,349
)
 
$
72,024

 
 
 
 
 
Denominator:
 
 
 
 
Denominator for basic earnings per share - weighted average shares
 
66,841,977

 
66,654,598

Effect of dilutive securities
 
 
 
 
Options
 
—

 
1,630,300

Denominator for diluted earnings per share - adjusted weighted average shares
 
66,841,977

 
68,284,898

 
 
 
 
 
Basic earnings per share:
 
 
 
 
(Loss) Income Applicable to Common Stock, per share
 
$
(0.21
)
 
$
1.08

 
 
 
 
 
Diluted earnings per share:
 
 
 
 
(Loss) Income Applicable to Common Stock, per share
 
$
(0.21
)
 
$
1.05