Net Income per Share

3 Months Ended

Mar. 31, 2021

The following is a reconciliation between basic and diluted weighted average shares outstanding:


(In thousands)	Three Months Ended March 31,
		2021	2020
Basic weighted average common shares outstanding		41,930	55,477
Effect of dilution:
Stock options		12	—
Restricted stock units		1,229	584
Diluted weighted average common shares outstanding		43,171	56,061

Approximately 0.5 million and 1.3 million restricted stock units outstanding as of March 31, 2021 and March 31, 2020, respectively, have been excluded from diluted weighted average common shares outstanding since a performance condition for these awards had not been met in each of the respective periods. As of March 31, 2021 and March 31, 2020, 0.4 million and 0.4 million, respectively, of restricted stock units and stock options have been excluded from diluted weighted average common shares outstanding, as their impact would have been anti-dilutive.

Stock Repurchase Program

The Company's Board of Directors has authorized a program to repurchase up to $1.5 billion of its outstanding shares of common stock (the "Stock Repurchase Program"). The Stock Repurchase Program has no pre-established closing date and may be suspended or discontinued at any time. For the three months ended March 31, 2021, the Company did not repurchase any shares of its Class A Common Stock. As of March 31, 2021, the Company had $135.3 million of authorization remaining for repurchase under the Stock Repurchase Program.