4.	Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
	(In thousands, except per share amounts)
Numerator:
Net earnings attributable to Weyco Group, Inc.	$	4,934	$	4,600	$	8,408	$	8,287

Denominator:
Basic weighted average shares outstanding		10,160		10,461		10,299		10,556
Effect of dilutive securities:
Employee stock-based awards		58		55		61		49
Diluted weighted average shares outstanding		10,218		10,516		10,360		10,605

Basic earnings per share	$	0.49	$	0.44	$	0.82	$	0.79

Diluted earnings per share	$	0.48	$	0.44	$	0.81	$	0.78

Diluted weighted average shares outstanding for the three months ended September 30, 2017, exclude anti-dilutive stock-based awards totaling 1,116,325 shares of common stock at a weighted average price of $26.49. Diluted weighted average shares outstanding for the nine months ended September 30, 2017, exclude anti-dilutive stock-based awards totaling 844,036 shares of common stock at a weighted average price of $26.93. Diluted weighted average shares outstanding for the three months ended September 30, 2016, exclude anti-dilutive stock-based awards totaling 1,232,000 shares of common stock at a weighted average price of $26.14. Diluted weighted average shares outstanding for the nine months ended September 30, 2016, exclude anti-dilutive stock-based awards totaling 924,161 shares of common stock at a weighted average price of $26.78.