EXPRESS, INC. - 10-Q filing on 2021-06-03

Earnings Per Share

3 Months Ended

May 01, 2021

NOTE 3 | EARNINGS PER SHARE

The following table provides a reconciliation between basic and diluted weighted-average shares used to calculate basic and diluted earnings per share:


	Thirteen Weeks Ended
	May 1, 2021	May 2, 2020
	(in thousands)
Weighted-average shares - basic	65,200	64,030
Dilutive effect of stock options and restricted stock units	—	—
Weighted-average shares - diluted	65,200	64,030

Equity awards representing 9.9 million and 9.6 million shares of common stock were excluded from the computation of diluted earnings per share for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively, as the inclusion of these awards would have been anti-dilutive.

Additionally, for the thirteen weeks ended May 1, 2021, approximately 1.5 million shares were excluded from the computation of diluted weighted average shares because the number of shares that will ultimately be issued is contingent on the Company’s performance compared to pre-established performance goals which have not been achieved as of May 1, 2021.