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Share-Based Compensation | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation As of June 30, 2024, there were 1,452,390 shares of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan. During the six months ended June 30, 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 $11.18, respectively; (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; and (4) shares of unrestricted stock totaling 73,716 and 302,112, respectively, with weighted-average grant date fair values per unit of $20.89 and $5.66, respectively. As of June 30, 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 $20.7 million and $4.9 million, respectively. During the six months ended June 30, 2024 and 2023, the Company paid approximately $2.9 million and $0.2 million, respectively, to settle certain awards upon vesting. For the three and six months ended June 30, 2024, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements totaling $16.9 million and $22.4 million, respectively, and $2.6 million and $5.6 million for the three and six months ended June 30, 2023, respectively. As of June 30, 2024, the balance of unamortized share-based compensation expense was $56.1 million, which is expected to be recognized over a weighted-average period of 2.1 years.

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