What was the total number of common stock shares for Benihana at the beginning of January 1, 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| 13,310 | $ | 31,349 | ||
|---|---|---|---|---|
| Net income attributable to The ONE Group Hospitality, Inc. per share: | ||||
| Basic net income per share | $ | 0.42 | $ | 1.01 |
| Diluted net income per share | $ | 0.40 | $ | 0.93 |
| Shares used in computing basic income per share | 32,400,515 | 31,155,224 | ||
| Shares used in computing diluted income per share | 33,871,797 | 33,794,344 | ||
THE ONE GROUP HOSPITALITY, INC. CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (in thousands, except share information)
| Shares | Par value | stock | capital | earnings | loss | equity | interests | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Balance at January | 29,083,183 | $ 3 | $ — | $ 46,538 | $(20,716) | $ (2,646) | $ 23,179 | $ (1,200) | $21,979 |
| 1, 2021 | |||||||||
| Stock-based | |||||||||
| compensation | 61,399 | — | — | 3,248 | — | — | 3,248 | — | 3,248 |
| Exercise of stock | |||||||||
| options and | |||||||||
| warrants | 1,590,029 | — | — | 3,615 | — | — | 3,615 | — | 3,615 |
| Issuance of | 1,403,785 | — | — | (154) | — | — | (154) | — | (154) |
| vested restricted | |||||||||
| shares, net of tax |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the balance of common stock shares at January 1, 2021, was 29,083,183. During 2021, several transactions affected the common stock shares outstanding. These included stock-based compensation which increased shares by 61,399, the exercise of stock options and warrants which increased shares by 1,590,029, and the issuance of vested restricted shares, net of tax withholding, which increased shares by 1,403,785. Additionally, the purchase of treasury stock decreased shares by 12,634.
Therefore, the total number of common stock shares for Benihana at the beginning of January 1, 2022, which is the balance at December 31, 2021, was 32,125,762 shares. This number reflects the cumulative effect of the transactions throughout the year.
Prospective franchisees should note that changes in common stock shares outstanding can reflect the financial activities and decisions of Benihana, potentially impacting the value of the company. Understanding these changes can provide insights into the company's financial health and management strategies.