14.Earnings Per Share

Net Income Per Share

Basic net income per share attributable to our Class A common stock is computed by dividing net income attributable to Aris Water Solutions, Inc. for the period subsequent to the IPO by the weighted average number of shares of Class A common stock outstanding for the same period. Shares issued during the period are weighted for the portion of the period in which the shares were outstanding.

Diluted net income per share of Class A common stock is computed by dividing net income attributable to Aris Water Solutions, Inc. by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.

Prior to the IPO, Solaris LLC’s capital structure included Class A, Class B, Class C, and Class D units. We determined that the presentation of net income (loss) per unit for the period prior to the IPO would not be meaningful due to the significant nature of the Corporate Reorganization transactions on the capital structure. Therefore, net income (loss) per unit information has not been presented for periods prior to the IPO.

The following table sets forth the computation of basic and diluted net income per share attributable to our Class A common stock for the period from October 26, 2021 to December 31, 2021, which represents the period subsequent to the IPO:

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Shares of Class B common stock are considered potentially dilutive shares of Class A common stock because they are convertible into shares of Class A common stock on a one-for-one basis. The 31,716,104 shares of Class B common stock outstanding as of December 31, 2021 were determined to be anti-dilutive and have been excluded from the computation of diluted net income per share of Class A common stock.

In addition, 1,391,333 unvested restricted stock units were excluded from the computation of diluted net income per share of Class A common stock as they were also determined to be anti-dilutive.