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Net (Loss)/Income Per Share | 3 Months Ended
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Mar. 30, 2021
Net (Loss)/Income Per Share |
Net (Loss)/Income Per Share | 11. Net Income/(Loss) Per Share ​ Basic net income/(loss) per share is computed by dividing net income/(loss) available to common stockholders by the weighted-average number of common shares outstanding during the period, reduced by unvested restricted stock awards. At both March 30, 2021 and March 31, 2020, 2.1 million shares of restricted stock issued were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates. Diluted net income per share is computed by dividing net income available to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. ​ Holders of our Series A Convertible Preferred Stock, par value $0.01 per share (the "Series A preferred stock") participate in dividends on an as-converted basis when declared on common stock. As a result, our Series A preferred stock meets the definition of a participating security which requires us to apply the two-class method to compute both basic and diluted net income per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common stockholders. In addition, as our Series A preferred stock is a participating security, we are required to calculate diluted net income per share under the if-converted method in addition to the two-class method and utilize the most dilutive result. In periods where there is a net loss, no allocation of undistributed net loss to preferred stockholders is performed as the holders of our Series A preferred stock are not contractually obligated to participate in our losses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen | ​ | Thirteen
​ | ​ | Weeks Ended | ​ | Weeks Ended
​ |  | March 30, 2021 |  | March 31, 2020
​ | ​ | (In thousands, except per share data)
Basic net income/(loss) per common share: | ​ | ​ | ​ | ​ | ​ | ​
Net income/(loss) | ​ | $ | 3,868 | ​ | $ | (136,163)
Dividends on Series A preferred stock | ​ |  | (5,070) | ​ |  | —
Net loss available to common stockholders | ​ |  | (1,202) | ​ |  | (136,163)
Basic weighted-average shares outstanding | ​ | ​ | 44,189 | ​ | ​ | 43,773
Basic net loss per common share | ​ | $ | (0.03) | ​ | $ | (3.11)
​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted net income/(loss) per common share: | ​ | ​ | ​ | ​ | ​ | ​
Net loss available to common stockholders | ​ | $ | (1,202) | ​ | $ | (136,163)
Basic weighted-average shares outstanding | ​ | ​ | 44,189 | ​ | ​ | 43,773
Dilutive effect of equity awards (1) | ​ | ​ | — | ​ | ​ | —
Diluted weighted-average shares outstanding | ​ | ​ | 44,189 | ​ | ​ | 43,773
Diluted net loss per common share | ​ | $ | (0.03) | ​ | $ | (3.11)
(1) | Shares of common stock equivalents of 1.5 million and 3.8 million as of March 30, 2021 and March 31, 2020, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

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