

NOTE 7:	EQUITY AND EPS

Capital Stock. Common Stockholders are entitled to elect four of the nine members of the Board of Directors, while Preferred Stockholders are entitled to elect the remaining five members. All directors are elected annually for a one year term. Any vacancies on the Board are to be filled only by the shareholders and not by the Board. Shareholders who own 10 percent or more of the outstanding Common or Preferred Stock have the right to call a special meeting of stockholders. Common Stockholders are not entitled to vote with respect to a merger, dissolution, lease, exchange or sale of substantially all of the Company’s assets, or on an amendment to the Articles of Incorporation, unless such action would increase or decrease the authorized shares or par value of the Common or Preferred Stock, or change the powers, preferences or special rights of the Common or Preferred Stock so as to affect the Common Stockholders adversely. Generally, Common Stockholders and Preferred Stockholders vote as separate classes on all other matters requiring shareholder approval.

EPS. The computations of basic and diluted EPS:



	Year Ended December 31,
	2018		2017		2016
Operations:
Net income^(a)	$	37,284	$	41,823	$	31,184
Less: Income attributable to participating securities (unvested shares and units) ^(b)	708		996		954
Net income attributable to common shareholders	$	36,576	$	40,827	$	30,230

Share information:
Basic and diluted weighted average common shares^(c)	16,866,176		16,746,731		16,643,811

Basic and diluted EPS	$	2.17	$	2.44	$	1.82


^(a)	Net income attributable to all shareholders.


^(b)	Participating securities included RSUs of 326,375, 368,492, and 527,486 for the years ended December 31, 2018, 2017, and 2016, respectively.


^(c)	Under the two class method, basic weighted average common shares exclude outstanding unvested participating securities.