Net Income Per Share

3 Months Ended

Mar. 31, 2024

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 Three Months Ended March 31,
		2024	2023
Weighted average shares outstanding:
Common shares		12,318,007	12,809,883
Vested restricted stock units		163,132	247,734
Basic number of weighted average shares outstanding		12,481,139	13,057,617
Dilutive effect of restricted stock units and stock options		165,390	15,699
Dilutive number of weighted average shares outstanding		12,646,529	13,073,316

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 March 31,
		2024	2023
Stock options		51,750	345,585
Restricted stock units		3,017	11,409
Total		54,767	356,994