Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Weighted Average Shares Outstanding Basic and Diluted

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 Three Months Ended June 30,		For the Six Months Ended June 30,
	2023	2022	2023	2022
Weighted average shares outstanding:
Common shares	12,832,945	13,069,364	12,821,478	13,483,613
Vested restricted stock units	216,990	366,143	232,277	366,098
Basic number of weighted average shares outstanding	13,049,935	13,435,507	13,053,755	13,849,711
Dilutive effect of restricted stock units and stock options	50,026	82,472	32,233	77,661
Dilutive number of weighted average shares outstanding	13,099,961	13,517,979	13,085,988	13,927,372

Schedule of stock awards excluded from the computation of diluted net income per share

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 Three Months Ended June 30,		For the Six Months Ended June 30,
	2023	2022	2023	2022
Stock options	228,625	67,264	241,201	56,492
Restricted stock units	6,031	—	5,814	—
Total	234,656	67,264	247,015	56,492