Earnings Per Share

3 Months Ended

Mar. 31, 2022

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


	Three months ended March 31,
	2021		2022
Numerator for basic and diluted earnings per share:
Net income	$	12,933	$	16,402
Less: Earnings allocated to unvested restricted stock	(27)		(15)
Income attributable to common stockholders	$	12,906	$	16,387

Denominator:
Denominator for basic earnings per common share - weighted average shares outstanding	17,965		15,244
Effect of dilutive securities:
Stock options	234		409

Performance awards	—		716
Denominator for diluted earnings per common share - weighted average shares outstanding	18,199		16,369

Basic earnings per common share:	$	0.72	$	1.07
Diluted earnings per common share:	$	0.71	$	1.00

For the three months ended March 31, 2021 and 2022, no stock options were excluded from the computation of diluted earnings per share.

Our performance awards are considered to be contingently issuable shares because their issuance is contingent upon the satisfaction of certain performance and service conditions. At March 31, 2022, we had satisfied certain performance criteria for the first, second and third predetermined growth targets of our performance awards to be considered outstanding. Therefore, we included these awards in the computation of diluted earnings per share as of the beginning of the reporting period.