Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER COMMON SHARE

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EARNINGS (LOSS) PER COMMON SHARE
12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Common Share EARNINGS (LOSS) PER COMMON SHARE
As a result of the Recapitalization, the Company has retrospectively adjusted the weighted-average Class A units outstanding prior to July 25, 2018 by multiplying them by the exchange ratio used to determine the number of Class A common stock into which they converted.


The following tables set forth the computation of the Company's earnings (loss) per common share:
Year Ended December 31,
(in thousands except per share amounts) 2020 2019 2018
Numerator:
Net income (loss) $ 71,059  $ (33,589) $ (17,836)
Less:  Income allocated to participating securities —  —  (45)
Less: Earnings attributable to non-controlling interests (45,398) —  — 
Net income (loss) attributable to stockholders of Priority Technology Holdings, Inc. $ 25,661  $ (33,589) $ (17,881)
Basic:
Weighted-average common stock shares outstanding 67,158  67,086  61,607 
Basic earnings (loss) per common share $ 0.38  $ (0.50) $ (0.29)
Fully Diluted:
Weighted-average common stock shares outstanding 67,158  67,086  61,607 
Weighted-average dilutive common shares outstanding 105  —  — 
Weighted-average common shares for fully-diluted earnings (loss) per share 67,263  67,086  61,607 
Fully-diluted earnings (loss) per common share $ 0.38  $ (0.50) $ (0.29)


Anti-dilutive securities that were excluded from earnings (loss) per common share that could potentially be dilutive in future periods are as follows:
As of December 31,
(in thousands) 2020 2019 2018
Stock options (1) 1,506  1,711  2,091 
Restricted stock units (1) 280  125  202 
Liability-classified restricted stock units (1) 107  —  — 
Earnout incentive awards subject to vesting (2) —  —  95 
Warrants on common stock (3) 3,556  3,556  5,731 
Options and warrants issued to underwriter (3) 600  600  600 
Earnout incentive awards subject to issuance (2) —  —  9,705 
Total 6,049  5,992  18,424 

(1) Granted under the 2018 Equity Incentive Plan. See Note 15, Share-Based Compensation.
(2) Plan expired on December 31, 2019 with no shares issued.
(3) Issued by M.I. Acquisitions prior to July 25, 2018. See Note 14, Stockholders' Deficit.