Net Income Per Share (Tables)

9 Months Ended

Sep. 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 September 30,		For the Nine Months Ended September 30,
	2023	2022	2023	2022
Weighted average shares outstanding:
Common shares	12,716,387	12,927,081	12,785,870	13,296,064
Vested restricted stock units	216,990	366,143	227,474	366,114
Basic number of weighted average shares outstanding	12,933,377	13,293,224	13,013,344	13,662,178
Dilutive effect of restricted stock units and stock options	106,261	70,936	55,654	75,693
Dilutive number of weighted average shares outstanding	13,039,638	13,364,160	13,068,998	13,737,871

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 September 30,		For the Nine Months Ended September 30,
	2023	2022	2023	2022
Stock options	89,625	63,875	229,123	56,321
Restricted stock units	3,186	4,000	3,132	2,432
Total	92,811	67,875	232,255	58,753