Net Income Per Share

12 Months Ended

Dec. 31, 2022

NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income by the basic number of weighted average shares outstanding. Diluted net income per share has been computed by dividing net income by the diluted number of weighted average shares outstanding using the treasury stock method. The share effect is as follows:


	For the Years Ended December 31,
	2022	2021	2020
Weighted average shares outstanding:
Common shares	13,197,912	15,727,140	17,544,837
Vested restricted stock units	365,973	358,683	314,098
Basic number of weighted average shares outstanding	13,563,885	16,085,823	17,858,935
Dilutive effect of restricted stock, restricted stock units, and stock options	61,196	14,729	76,844
Dilutive number of weighted average shares outstanding	13,625,081	16,100,552	17,935,779

The following outstanding stock awards were excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive:


	For the Years Ended December 31,
	2022	2021	2020
Stock options	189,465	349,222	—
Restricted stock units	2,827	—	—
Total	192,292	349,222	—