Net Income Per Share

6 Months Ended

Jun. 30, 2024

13. Net Income Per Common Share

The following is a reconciliation of the weighted average shares outstanding used to compute basic and diluted net income per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Basic weighted average common shares outstanding		35,368,492		35,084,580		35,316,971		35,102,924
Effect of dilutive securities - equity compensation awards		369,830		565,563		582,510		664,028
Diluted weighted average common shares outstanding		35,738,322		35,650,143		35,899,481		35,766,952

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 1,129,475 and 813,638 common shares were excluded from the diluted weighted average common shares outstanding for the three and six months ended June 30, 2024, respectively. Anti-dilutive equity instruments of 440,355 and 479,723 common shares were excluded from the diluted weighted average common shares outstanding for the three and six months ended June 30, 2023, respectively.

No cash dividends were declared or paid during the three and six months ended June 30, 2024 and 2023.