Bridge Investment Group Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

The following table presents our (loss) earnings per share for the three months ended March 31, 2023 and 2022 (in thousands, except per share amounts):


	Three Months Ended March 31,
	2023		2022
Net income attributable to Bridge Investment Group Holdings Inc.	$	2,034	$	9,780
Less:
Income allocated to Restricted Stock and RSUs	—		(695)
Distributions on Restricted Stock and RSUs	(1,306)		(1,071)
Net income available to Class A common shareholders - basic	$	728	$	8,014
Incremental net loss from assumed exchange of Class A units	(17,279)		—
Net (loss) income available to Class A Common Stockholders, diluted	(16,551)		8,014

Denominator:
Weighted-average shares of Class A common stock outstanding - basic	25,068,319		23,138,030
Incremental shares from assumed exchange of Class A units	98,813,181		—
Weighted-average shares of Class A common stock outstanding - diluted	123,881,500		23,138,030

Earnings per share of Class A common stock - basic	$	0.03	$	0.35
(Loss) earnings per share of Class A common stock - diluted	$	(0.13)	$	0.35

Basic earnings per share is calculated by dividing earnings available to our Class A common shareholders by the weighted-average number of our Class A common shares outstanding for the period. Restricted Stock and RSUs that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Accordingly, distributed and undistributed earnings attributable to unvested

Restricted Stock have been excluded as applicable, from earnings available to our Class A common stockholders used in basic and diluted earnings per share.

Diluted earnings per share of our Class A common stock is computed by dividing earnings available to Bridge Investment Group Holdings Inc., giving consideration to the reallocation of net income (loss) between holders of our Class A common stock and non-controlling interests, by the weighted-average number of shares of our Class A common stock outstanding adjusted to give effect to potentially dilutive securities, if any.

Shares of our Class B common stock do not share in the earnings or losses attributable to the Company and therefore are not participating securities. As a result, a separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been included.