Investor Presentaiton
Effect of Convertible Notes on Diluted Share Count
GAAP Approximate
Incremental Dilutive Shares
(in thousands)
Non-GAAP Approximate
Incremental Dilutive Shares
(in thousands)
Average Stock Price
2025
2027
2025
2027
per Common Share
Notes
Notes
Total
Notes
Notes
Total
$15.00
609
609
$16.00
1,130
1,130
$17.00
1,589
1,589
ייי
$18.00
1,998
1,998
$19.00
2,363
2,363
192
192
$20.00
2,692
2,692
521
521
$21.00
2,990
2,990
819
819
$22.00
3,260
3,260
1,090
1,090
$23.00
3,507
3,507
1,337
1,337
$24.00
0
3,734
3,734
0
1,563
1,563
$25.00
221
3,942
4,163
221
1,771
1,992
$26.00
425
4,134
4,559
425
1,964
2,388
$27.00
613
4,313
4,926
613
2,142
2,755
$28.00
789
4,478
5,267
789
2,307
3,096
$29.00
952
4,632
5,584
952
2,461
3,413
$30.00
1,104
4,775
5,880
1,104
2,605
3,709
Based on outstanding Notes as of the end of the most recent quarter. Above table does not include incremental shares associated with the 2023 Notes,
for which there is no dilutive impact below an average stock price per share of $40.03.
The non-GAAP incremental dilutive shares includes the impact of the Company's capped call transaction issued concurrently with our 2027 Notes, and as
such, no incremental shares are added to the dilutive share count in periods in which the average stock price per share is below $18.46. The GAAP
incremental dilutive shares does not include the impact of the Company's capped call transaction, and as such, incremental shares are added to the
dilutive share count in periods in which the average stock price per share is above $13.98, and the Company is in a net income position.
28 Investor Presentation
| 2021 Veeco Instruments Inc.
Amounts may not calculate precisely due to rounding. A reconciliation of GAAP to Non-GAAP financial measures can be found in the backup section of this presentation.
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