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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation As of September 30, 2025, there were 3,639,951 shares of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan. During the nine months ended September 30, 2025 and 2024, the Company granted the following shares of common stock and share-based instruments: (1) service-based RSUs totaling 444,405 and 30,000, respectively, with weighted-average grant date fair values per unit of $36.45 and $12.68, respectively; (2) cash-settled restricted stock units (“CRSUs”) with service-based vesting conditions and payouts indexed to shares of the Company’s common stock totaling 381,410 and 673,855, respectively, with weighted-average grant date fair values per unit of $27.59 and $12.75, respectively; and (3) shares of unrestricted common stock issued to its directors as part of their annual retainer totaling 40,710 and 73,716, respectively, with weighted-average grant date fair values per unit of $36.35 and $20.89, respectively. During the nine months ended September 30, 2025, the Company granted 151,623 performance-based RSUs with a weighted-average grant date fair value per unit of $47.76. During the nine months ended September 30, 2024, the Company also granted 645,180 cash-settled performance stock units (“CPSUs”) with a weighted-average grant date fair value per unit of $19.17. The number of performance-based RSUs and CPSUs granted are shown at target-level performance. As of September 30, 2025 and December 31, 2024, the Company recognized liabilities for CPSUs and CRSUs on the Condensed Consolidated Balance Sheets totaling approximately $137.6 million and $34.6 million, respectively. During the nine months ended September 30, 2025 and 2024, the Company paid approximately $11.6 million and $2.9 million, respectively, to settle certain awards. For the three and nine months ended September 30, 2025, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements totaling $58.7 million and $120.7 million, r espectively, and $16.5 million and $39.0 million for the three and nine months ended September 30, 2024, respectively. As of September 30, 2025, the balance of unamortized share-based compensation expense was $95.5 million, which is expected to be recognized over a weighted-average period of 1.5 years.

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