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Table of Contents <br />AMERESCO, INC. <br />NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <br />(In thousands, except per share amounts) <br />Earnings Per Share <br />The following is a reconciliation of the numerator and denominator for the computation of basic and diluted earnings per share: <br />Year Ended December 31, <br />Numerator: <br />Net income attributable to common shareholders <br />Adjustment for accretion of tax equity financing fees <br />Income attributable to common shareholders <br />Denominator: <br />Basic weighted -average shares outstanding <br />Effect of dilutive securities: <br />Stock options <br />Diluted weighted -average shares outstanding <br />Net income per share attributable to common shareholders: <br />Basic <br />Diluted <br />Potentially dilutive shares (1) <br />2023 2022 2021 <br />$ 62,470 $ 94,926 $ 70,458 <br />(108) (116) (116) <br />$ 62,362 $ 94,810 $ 70,342 <br />52,140 51,841 50,855 <br />1,087 1,437 1,413 <br />53,228 53,278 52,268 <br />$ 1.20 $ 1.83 $ 1.38 <br />$ 1.17 $ 1.78 $ 1.35 <br />1,707 1,108 1,443 <br />(1) Potentially dilutive shares attributable to stock options were excluded from the computation of diluted earnings per share as the effect would have been anti -dilutive. <br />14. STOCK -BASED COMPENSATION AND OTHER EMPLOYEE BENEFITS <br />Our 2020 Stock Incentive Plan (the "2020 Plan"), was adopted by our Board of Directors in February 2020 and approved by our stockholders in May 2020. The 2020 Plan <br />provides for the grant of incentive stock options, non -statutory stock options, stock appreciation rights, RSUs, and other stock -based awards. As of December 31, 2023, there <br />were 1,991 shares available for grant under the 2020 Plan. <br />Stock Options <br />We did not grant awards to individuals who were not either an employee or director of ours during the years ended December 31, 2023, 2022, and 2021. <br />The following table summarizes the collective activity under the plan: <br />Outstanding at December 31, 2022 <br />Granted <br />Exercised <br />Forfeited <br />Expired <br />Outstanding at December 31, 2023 <br />Options exercisable at December 31, 2023 <br />Expected to vest at December 31, 2023 <br />Weighted -Average <br />Number of Options <br />Exercise Price <br />4,533 <br />45.799 <br />170 <br />41.871 <br />(246) <br />9.900 <br />(193) <br />62.365 <br />(9) <br />63.311 <br />Weighted -Average <br />Remaining Contractual Aggregate Intrinsic <br />Term Value <br />4,255 <br />$ 46.932 <br />6.6 years $ <br />27,539 <br />1,867 <br />$ 25.241 <br />5.3 years $ <br />25,775 <br />2,387 <br />$ 63.900 <br />7.6 years $ <br />1,764 <br />93 <br />