UNITY BANCORP INC /NJ/ Earnings Per Share Disclosure
12. Net Income per Share
The following is a reconciliation of the calculation of basic and diluted net income per share for the past two years:
For the years ended December 31, | ||||||
(In thousands, except per share amounts) | | 2025 | | 2024 | ||
Net income | $ | 57,951 | $ | 41,450 | ||
Weighted average common shares outstanding - Basic |
| 10,033 |
| 10,031 | ||
Plus: Potential dilutive common stock equivalents |
| 190 |
| 171 | ||
Weighted average common shares outstanding - Diluted |
| 10,223 |
| 10,202 | ||
Net income per common share - Basic | $ | 5.78 | $ | 4.13 | ||
Net income per common share - Diluted |
| 5.67 |
| 4.06 | ||
Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive |
| — |
| — | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 4, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 10, 2023 | |
| 2021 | Mar 11, 2022 | |
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.