FinTech Acquisition Corp. IV Just Filed Its Quarterly Report: Note 15—Net Income (...

Note 15—Net Income (Loss) Per Share Attributable to Class A Common Shareholders
The Company analyzed the calculation of net income (loss) per share for periods prior to the Business Combination on June 24, 2021 and determined that it resulted in values that would not be meaningful to the users of the condensed consolidated financial statements. Therefore, net income (loss) per share information has not been presented for periods prior to the Business Combination. The basic and diluted net income (loss) per share attributable to Class A common shareholders for the three and six months ended June 30, 2021, as presented on the Condensed Consolidated Statements of Operations, represent only the period after the Business Combination to June 30, 2021.
The calculations of basic and diluted net income (loss) per share attributable to Class A common shareholders are presented below:
 Three Months Ended
June 30, 2022
Six Months Ended
June 30, 2022
Period After Business Combination Through June 30, 2021
Numerator:
Net income (loss) attributable to Perella Weinberg Partners – basic$9,265 $18,159 $(12,499)
Dilutive effect from assumed exercise of warrants, net of tax— — (656)
Dilutive effect from assumed exchange of PWP OpCo Units, net of tax(9,319)(18,647)(16,501)
Net income (loss) attributable to Perella Weinberg Partners – diluted$(54)$(488)$(29,656)
Denominator:
Weighted average shares of Class A common stock outstanding – basic44,584,181 45,247,373 42,956,667 
Weighted average number of incremental shares from assumed exercise of warrants— — 902,717 
Weighted average number of incremental shares from assumed exchange of PWP OpCo Units46,104,690 46,705,704 50,154,199 
Weighted average shares of Class A common stock outstanding – diluted90,688,871 91,953,077 94,013,583 
Net income (loss) per share attributable to Class A common shareholders
Basic$0.21 $0.40 $(0.29)
Diluted$0.00 $(0.01)$(0.32)
Basic and diluted net income (loss) per share attributable to Class B common shareholders has not been presented as these shares are entitled to an insignificant amount of economic participation.
The Company uses the treasury stock method to determine the potential dilutive effect of outstanding warrants and unvested RSUs and PSUs and the if-converted method to determine the potential dilutive effect of exchanges of PWP OpCo Units into Class A common stock. The Company adjusts net income (loss) attributable to Class A common shareholders under both the treasury stock method and if-converted method for the reallocation of net income (loss) between Class A common shareholders and non-controlling interests that result upon the assumed issuance of dilutive shares of Class A common stock as if the issuance occurred as of the Closing Date. The Company also adjusts the net income (loss) attributable to Class A common shareholders under the treasury stock method to reverse the effect on earnings of classifying the warrants as liabilities. All adjustments are net of any tax impact.
The following table presents the weighted average potentially dilutive shares that were excluded from the calculation of diluted net income (loss) per share under the treasury stock method or if-converted method, as applicable, because the effect of including such potentially dilutive shares was antidilutive for the period presented:
 Three Months Ended June 30, 2022Three Months Ended
June 30, 2022
Period After Business Combination Through June 30, 2021
Warrants (1)
— — — 
RSUs and PSUs41,654 168,435 — 
Total41,654 168,435 — 
(1)When assessed for the three and six months ended June 30, 2022, the warrants were out-of-the-money, which resulted in no potentially dilutive shares under the treasury stock method.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

FinTech Acquisition Corp.: Andrew Bednar Appointed Ceo Of Perella Weinberg Partners; - Sept. 26, 2022
Unregistered Sales of Equity - Sept. 7, 2022
Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities - Sept. 7, 2022
FinTech Acquisition Corp. IV director just declared 0 restricted shares - Sept. 7, 2022
FinTech Acquisition Corp. IV director just disposed of 358 shares - Aug. 31, 2022

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