EX-11 6 hm63017ex11.htm EXHIBIT 11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three and Six Months Ended June 30, 2017 and 2016
($ in thousands, except per share data)

|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Basic: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,261 |  |  | $ | 11,866 |  |  | $ | 17,579 |  |  | $ | 37,019 |
Weighted average number of common shares during the period |  | 41,368 |  |  | 41,082 |  |  | 41,268 |  |  | 41,200 |
Net income per share – basic |  | $ | 0.05 |  |  | $ | 0.29 |  |  | $ | 0.43 |  |  | $ | 0.90 |
Diluted: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,261 |  |  | $ | 11,866 |  |  | $ | 17,579 |  |  | $ | 37,019 |
Weighted average number of common shares during the period |  | 41,368 |  |  | 41,082 |  |  | 41,268 |  |  | 41,200 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |  |  |
Stock options |  | 123 |  |  | 101 |  |  | 142 |  |  | 97 |
Common stock units related to deferred compensation for employees |  | 29 |  |  | 56 |  |  | 29 |  |  | 56 |
Restricted common stock units related to incentive compensation |  | (27 | ) |  | 75 |  |  | (23 | ) |  | 63 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 41,493 |  |  | 41,314 |  |  | 41,416 |  |  | 41,416 |
Net income per share – diluted |  | $ | 0.05 |  |  | $ | 0.29 |  |  | $ | 0.42 |  |  | $ | 0.89 |