Earnings per share

Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("Class B Stock") outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method.

Earnings per share have been calculated as follows:



(Expressed in thousands, except number of shares and per share amounts)
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Basic weighted average number of shares outstanding	12,976,235		13,248,812		12,998,168		13,244,245
Net dilutive effect of share-based awards, treasury method ⁽¹⁾	885,518		801,761		859,448		761,311
Diluted weighted average number of shares outstanding	13,861,753		14,050,573		13,857,616		14,005,556

Net income	$	12,375	$	8,855	$	23,569	$	15,560

Net income per share
Basic	$	0.95	$	0.67	$	1.81	$	1.17
Diluted	$	0.89	$	0.63	$	1.70	$	1.11


(1)	For both the three and six months ended June 30, 2019, the diluted net income per share computation does not include the anti-dilutive effect of 7,628 shares of Class A Stock granted under share-based compensation arrangements (4,050 shares for both the three and six months ended June 30, 2018).