Net Income per Share

9 Months Ended

Sep. 30, 2021

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


(In thousands)	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Basic weighted average common shares outstanding	42,506	52,346	42,308	53,374
Effect of dilution:
Stock options	—	—	4	—
Restricted stock units	934	558	1,020	543
Diluted weighted average common shares outstanding	43,440	52,904	43,332	53,917

Approximately 0.5 million and 1.1 million restricted stock units outstanding as of September 30, 2021 and September 30, 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 September 30, 2021 and September 30, 2020, 0.3 million and 0.7 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 nine months ended September 30, 2021, the Company did not repurchase any shares of its Class A Common Stock. As of September 30, 2021, the Company had $135.3 million of authorization remaining for repurchase under the Stock Repurchase Program.