The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
| | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2023 | | 2022 | Numerator for basic and diluted net income per common share: | | | | | | | | Net income from continuing operations attributable to common shareholders | | | | | $ | 15,458 | | | $ | 18,521 | | Net income available to participating securities (1) | | | | | (21) | | | (52) | | Net income available to common shareholders from operations | | | | | $ | 15,437 | | | $ | 18,469 | | Denominator: | | | | | | | | Weighted-average outstanding shares of common stock | | | | | 19,847,280 | | | 19,921,375 | | Dilutive effect of: | | | | | | | | Equity incentive plans | | | | | 27,655 | | | 102,801 | | Employee Stock Purchase Plan | | | | | 9,722 | | | 11,651 | | Common stock and common stock equivalents | | | | | 19,884,657 | | | 20,035,827 | | Net income per share from operations: | | | | | | | | Basic | | | | | $ | 0.78 | | | $ | 0.93 | | Diluted | | | | | $ | 0.78 | | | $ | 0.92 | |
(1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).
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