WESTWOOD HOLDINGS GROUP INCWHG

WESTWOOD HOLDINGS GROUP INC Earnings Per Share Disclosure

10-KFiled Mar 4, 20261 min read
EARNINGS PER SHARE:
Basic earnings per common share is computed by dividing income attributable to Westwood Holdings Group, Inc. by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors using the treasury stock method. There were approximately 5,000, 7,000 and 63,000 anti-dilutive
restricted shares as of December 31, 2025, 2024 and 2023, respectively, which were excluded from weighted average shares outstanding.
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts):
 Years ended December 31,
 202520242023
Income attributable to Westwood Holdings Group, Inc.$7,058 $2,215 $9,520 
Weighted average shares outstanding – basic8,374,352 8,163,465 7,964,423 
Dilutive potential shares from unvested restricted shares511,228 352,314 147,716 
Weighted average shares outstanding – diluted8,885,580 8,515,779 8,112,139 
Earnings per share:   
Basic$0.84 $0.27 $1.20 
Diluted$0.79 $0.26 $1.17 

Historical Timeline

Fiscal YearFiled
2025Mar 4, 2026Showing above
2024Mar 5, 2025
2023Mar 7, 2024
2022Mar 13, 2023
2021Mar 4, 2022
2020Mar 4, 2021
2019Feb 20, 2020
2018Feb 21, 2019
2017Feb 23, 2018
2016Feb 23, 2017
2015Feb 25, 2016

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.

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