18. Income Per Common Share

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share data):


Basic income per common share	2017		2016		2015
Net income	$	3,704	$	10,778	$	4,005
Net income allocated to participating securities		(63)		(208)		(87)
Net income allocated to common shareholders	$	3,641	$	10,570	$	3,918

Basic weighted-average common shares outstanding		33,008		31,855		27,744
Basic income per common share	$	0.11	$	0.33	$	0.14

Diluted income per common share	2017		2016		2015
Net income	$	3,704	$	10,778	$	4,005
Net income allocated to participating securities		(61)		(202)		(87)
Net income allocated to common shareholders	$	3,643	$	10,576	$	3,918

Basic weighted-average common shares outstanding		33,008		31,855		27,744
Effect of dilutive options and awardsa		1,155		967		798
Diluted weighted-average common shares outstanding		34,163		32,822		28,542
Diluted income per common share	$	0.11	$	0.32	$	0.14

aWe excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares, because the inclusion of these stock options would be antidilutive to income per common share. Accordingly, stock options to purchase 227,000, 1,000, and 710,000 shares for the years ended December 31, 2017, 2016, and 2015, respectively, were excluded from the calculation of diluted weighted-average common shares outstanding.