Earnings Per Common Share And Share Awards (Tables)

3 Months Ended

Mar. 31, 2025

The following table sets forth the computation of basic and diluted earnings per share for the three-month periods ended March 31:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2025		2024
Net income	$	3,171	$	4,525
Weighted average common shares outstanding – Basic	1,886		1,888
Incremental shares outstanding assuming the exercise of dilutive SARs (share-settled)	9		1
Weighted average common shares outstanding – Diluted	1,895		1,889
Basic earnings per common share	$	1.68	$	2.40
Diluted earnings per common share	$	1.67	$	2.40

A summary of share-based award transactions for all share-based award plans follows:


(in thousands, except weighted average exercise price and average remaining contractual term)	Number Of Shares	Weighted Average Exercise Price		Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2024	42	$	160.83	3.69	$	428
SARs granted	5	160.94
SARs exercised	(19)	170.21
Outstanding as of December 31, 2024	28	$	154.71	3.90	$	2,312
SARs granted	—	—
SARs exercised	(1)	188.71
Outstanding as of March 31, 2025	27	$	152.80	3.86	$	2,355

Exercisable as of March 31, 2025	23	$	154.04	3.81	$	2,008

Unvested as of March 31, 2025	4	$	144.83	4.15	$	347

INVESTORS TITLE CO 10-Q