PLIANT THERAPEUTICS, INC. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2024 | 2023 | 2022 | |||||||||||||||
| Options to purchase common stock | 8,300,804 | 6,953,487 | 5,569,567 | ||||||||||||||
| Restricted stock units | 932,634 | 874,748 | 507,925 | ||||||||||||||
| Performance-based restricted stock units* | — | 328,750 | 354,532 | ||||||||||||||
| Total | 9,233,438 | 8,156,985 | 6,432,024 | ||||||||||||||
*PSUs outstanding based on target level of achievement of 100%. | |||||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.