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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation As of September 30, 2024, there wer e 1,499,013 share s of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan. During the nine months ended September 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 September 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 approxima tely $35.6 million and $4.9 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company paid approximately $2.9 million and $1.3 million, respectively, to settle certain awards upon vesting. For the three and nine months ended September 30, 2024, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements total ing $16.5 million and $39.0 million, re spectively, and $3.5 million and $9.1 million for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024, the balance of unamortized share-based compensation expense was $59.9 million, which is expected to be recognized over a weighted-average period of 2.0 years.

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