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Share-Based Compensation | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation As of March 31, 2024, there were 1,457,658 share s of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan. During the three months ended March 31, 2024 and 2023, the Company granted the following share-based instruments: (1) RSUs totaling 30,000 and 590,188, respectively, with weighted-average grant date fair values per unit of $12.68 and $8.66, respectively; (2) cash-settled performance stock units (“CPSUs”) totaling 645,180 and 901,541, respectively, with weighted-average grant date fair values per unit of $19.17 and $13.78, respectively; and (3) deferred cash awards (“DCAs”), including cash-settled stock units, with service-based vesting conditions and payouts indexed to shares of the Company’s common stock totaling 673,855 and 90,000, respectively, with weighted-average grant date fair values per unit of $12.75 and $8.98, respectively. As of March 31, 2024 and December 31, 2023, the Company recognized liabilities for CPSUs, RSUs with guaranteed minimum payouts and DCAs on the Condensed Consolidated Balance Sheets totaling approximately $7.5 million and $4.9 million, respectively. During the three months ended March 31, 2024, the Company paid approximately $1.0 million, respectively, to settle certain awards. For the three months ended March 31, 2024 and 2023, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements totaling $5.5 million and $3.1 million, respectively. As of March 31, 2024, the balance of unamortized share-based compensation expense was $37.5 million, which is expected to be recognized over a weighted-average period of 2.4 years.

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