Net Income Per Share

12 Months Ended

Dec. 31, 2023

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,
	2023	2022	2021
Weighted average shares outstanding:
Common shares	12,728,888	13,197,912	15,727,140
Vested restricted stock units	224,536	365,973	358,683
Basic number of weighted average shares outstanding	12,953,424	13,563,885	16,085,823
Dilutive effect of restricted stock, restricted stock units, and stock options	57,311	61,196	14,729
Dilutive number of weighted average shares outstanding	13,010,735	13,625,081	16,100,552

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,
	2023	2022	2021
Stock options	228,998	189,465	349,222
Restricted stock units	3,185	2,827	—
Total	232,183	192,292	349,222