| Components of Basic and Diluted Earnings Per Share |
The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2024 | | 2023 | | 2024 | | 2023 | | Numerator for basic and diluted net income per common share: | | | | | | | | Net income attributable to common shareholders | $ | 21,120 | | | $ | 24,007 | | | $ | 71,364 | | | $ | 60,523 | | Net income available to participating securities (1) | — | | | (12) | | | (9) | | | (52) | | | Net income available to common shareholders from operations | $ | 21,120 | | | $ | 23,995 | | | $ | 71,355 | | | $ | 60,471 | | | Denominator: | | | | | | | | | Weighted-average outstanding shares of common stock | 19,300,283 | | | 19,627,188 | | | 19,256,739 | | | 19,708,991 | | | Dilutive effect of: | | | | | | | | | Equity incentive plans | 138,490 | | | 12,649 | | | 60,478 | | | 15,744 | | | Employee Stock Purchase Plan | 3,357 | | | 8,018 | | | 4,057 | | | 6,030 | | | Common stock and common stock equivalents | 19,442,130 | | | 19,647,855 | | | 19,321,274 | | | 19,730,765 | | | Net income per share from operations: | | | | | | | | | Basic | $ | 1.09 | | | $ | 1.22 | | | $ | 3.71 | | | $ | 3.07 | | | Diluted | $ | 1.09 | | | $ | 1.22 | | | $ | 3.69 | | | $ | 3.07 | |
(1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).
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