SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2024

Basic and diluted income per share was determined based on the following share data (in thousands):


	Three Months Ended March 31,
	2024	2023






Weighted average basic common shares	13,100	12,846
Effect of stock options	61	54
Effect of dilutive share awards	115	35

Weighted average diluted common shares	13,276	12,935

For the first quarter of 2024, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million shares of common stock and 0.3 million restricted stock units.

For the first quarter of 2023, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 1.0 million shares of common stock and 0.4 million restricted stock units.

The convertible notes and the warrants issued by the Company could be converted into the Company’s common stock, subject to certain contingencies. Approximately 0.6 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted loss per share for the first quarter of 2024 because their inclusion would have been anti-dilutive. Approximately 1.2 million shares related to the potentially dilutive shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 for the first quarter of 2023 were excluded from the calculation of diluted income

per share for the first quarter of 2023 because their inclusion would have been anti-dilutive. Shares of the Company's stock associated with the warrants issued by the Company in 2020 were excluded from the calculation of diluted loss per share for the first quarter of 2024 and for the first quarter of 2023, as they were anti-dilutive since the strike price of the warrants was greater than the average market price of the Company's common stock during the relevant periods.

Common Stock Repurchases

The Company has a plan authorized for the repurchase of LendingTree's common stock. During the first quarter of 2024 and the first quarter of 2023, the Company did not purchase shares of its common stock. At March 31, 2024, approximately $96.7 million of the previous authorizations to repurchase common stock remain available.