EARNINGS PER SHARE (''EPS'')

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")

10. EARNINGS PER SHARE ("EPS")

        The computations of basic EPS are based on our weighted average shares outstanding. During the three months ended March 31, 2014, the weighted average shares outstanding were increased by 8,000 shares to reflect the dilutive effect of share options.

        For purposes of calculating basic EPS, the 65,028,571 preferred shares issued in connection with the Merger have been assumed to have been converted into 455,199,997 common shares. As of the Acquisition Date, a subsidiary of CIM Urban REIT had agreed to vote its 97.8% post-Merger ownership of CIM Commercial in favor of an increase in the number of authorized CIM Commercial common shares to one billion, thereby satisfying the condition for the automatic conversion of these shares. The actual conversion of the preferred shares to common shares occurred on April 29, 2014.