Equity

Class A Common Stock

The Company has a total of 3,097,193 shares of its Class A common stock outstanding at September 30, 2015. Each share of Class A common stock holds economic rights and entitles its holder to one vote on all matters to be voted on by shareholders generally.

Class B Common Stock

The Company has a total of 10,750,000 shares of its Class B common stock outstanding at September 30, 2015. Each share of Class B common stock, all of which is held by NuDevco, has no economic rights but entitles its holder to one vote on all matters to be voted on by shareholders generally.

Holders of Class A common stock and Class B common stock vote together as a single class on all matters presented to our shareholders for their vote or approval, except as otherwise required by applicable law or by our certificate of incorporation.

Preferred Stock

The Company has 20,000,000 shares of authorized preferred stock of which there are no issued and outstanding shares at September 30, 2015.

Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income attributable to shareholders (the numerator) by the weighted-average number of Class A common shares outstanding for the period (the denominator). Class B common shares are not included in the calculation of basic earnings per share because they have no economic interest in the Company. Diluted earnings per share is similarly calculated except that the denominator is increased (1) using the treasury stock method to determine the potential dilutive effect of the Company's outstanding unvested restricted stock units, (2) using the if-converted method to determine the potential dilutive effect of the Company's Class B common stock and (3) using the if-converted method to determine the potential dilutive effect of the outstanding convertible subordinated notes into the Company's Class B common stock.

The following table presents the computation of earnings per share for the three months and nine months ended September 30, 2015 (in thousands, except per share data):



	Three Months Ended			Nine Months Ended
	September 30, 2015			September 30, 2015
Net income attributable to shareholders of Class A common stock	$	1,314		$	3,884
Basic weighted average Class A common shares outstanding	3,097			3,053
Basic EPS attributable to shareholders	$	0.42		$	1.27

Net income attributable to shareholders of Class A common stock	$	1,314		$	3,884
Effect of conversion of Class B common stock to shares of Class A common stock	3,605			11,734
Effect of conversion of convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock	(520		)	(436		)
Diluted net income attributable to shareholders of Class A common stock	4,399			15,182
Basic weighted average Class A common shares outstanding	3,097			3,053
Effect of dilutive Class B common stock	10,750			10,750
Effect of dilutive convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock	351			118
Effect of dilutive restricted stock units	34			27
Diluted weighted average shares outstanding	14,232			13,948

Diluted EPS attributable to shareholders	$	0.31		$	1.09

Non-controlling Interest

From the Offering to May 4, 2015, the Company owned a 21.82% economic interest in Spark HoldCo, and NuDevco owned a 78.18% economic interest in Spark HoldCo. At September 30, 2015, the Company owns a 22.37% economic interest in Spark HoldCo, and is the sole managing member in Spark HoldCo, and NuDevco owns a 77.63% economic interest in Spark HoldCo. As a result, the Company has consolidated the financial position and results of operations of Spark HoldCo and reflected the economic interest owned by NuDevco as a non-controlling interest.