XML 40 R21.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Equity-Based Compensation | 3 Months Ended
--- | ---
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Equity-Based Compensation | 14. Equity-Based Compensation The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan (the “Equity Incentive Plan,” initially adopted in May 2012 and as most recently amended and restated on May 30, 2023) is a source of equity-based awards permitting the Company to grant to Carlyle employees, directors and consultants non-qualified options, share appreciation rights, common shares, restricted stock units and other awards based on the Company’s shares of common stock. Following the amendment and restatement of the Equity Incentive Plan on May 30, 2023, a total of 39,800,000 shares of common stock were authorized for the grant of awards under the Equity Incentive Plan. As of March 31, 2024, there was a total of 10,176,358 shares of the Company’s common stock remaining available for grant under the Equity Incentive Plan. A summar y of the status of the Company’s non-vested equity-based awards as of March 31, 2024 and a summary of changes for the three months ended March 31, 2024, are presented below:
Unvested Shares | Performance- Vesting Restricted Stock Units(1) |  | Weighted- Average Grant Date Fair Value |  | Restricted Stock Units |  | Weighted- Average Grant Date Fair Value |  | Unvested Common Shares(2) |  | Weighted- Average Grant Date Fair Value
Balance, December 31, 2023 | 4,941,317 |  | $23.19 |  | 17,232,330 |  | $34.68 |  | 458,929 |  | $37.87
Granted (3) | 13,194,168 |  | $26.42 |  | 4,968,866 |  | $40.57 |  | 247,293 |  | $40.08
Vested (4) | — |  | $— |  | 1,268,829 |  | $33.07 |  | — |  | $—
Forfeited | — |  | $— |  | 307,778 |  | $32.12 |  | — |  | $—
Balance, March 31, 2024 | 18,135,485 |  | $25.54 |  | 20,624,589 |  | $36.24 |  | 706,222 |  | $38.64
(1)Includes restricted stock units granted to certain senior Carlyle professionals, including equity inducement awards granted in connection with the appointment of the Company’s Chief Executive Officer, which are subject to vesting based on the achievement of stock price performance conditions over a service period. (2)Includes common shares issued in connection with the Company’s investment in NGP. (3)Includes shares reserved for issuance upon settlement of dividend-equivalent rights carried by certain restricted stock units concurrently with the settlement of the restricted stock units for shares. (4)Includes 481,261 shares which were retired in connection with the net share settlement of equity-based awards. The Company paid $19.4 million of taxes related to the net share settlement of equity-based awards during the three months ended March 31, 2024, which is included within Financing activities in the condensed consolidated statements of cash flows. In February 2024, the Company granted 13.2 million restricted stock units to certain senior Carlyle professionals that are eligible to vest in three tranches based on the achievement of stock price performance conditions over service periods of one, two and three years. Equity-based compensation expense for each tranche is recognized on a straight-line basis over its respective service period. These awards had a grant date fair value of approximately $347 million, which was derived using the Monte Carlo Simulation model. The Company recorded compensation expense, net of forfeitures, for restricted stock units of $108.3 million and $54.4 million for the three months ended March 31, 2024 and 2023, respectively, with $20.1 million and $9.7 million of corresponding deferred tax benefits, respectively. As of March 31, 2024, the total unrecognized equity-based compensation expense related to unvested restricted stock units was $896.7 million, which is expected to be recognized over a weighted- average term of 2.2 years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration