v3.26.1
Share-Based Compensation
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
As of March 31, 2026, there were 3,816,336 shares of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan (the “Plan”). During the three months ended March 31, 2026 and 2025, the Company granted cash-settled restricted stock units (“CRSUs”) with service-based vesting conditions and payouts indexed to shares of the Company’s common stock totaling 58,510 and 307,131, respectively, with weighted-average grant date fair values per unit of $69.83 and $25.47, respectively. During the three months ended March 31, 2025, the Company also granted service-based RSUs totaling 68,638 with a weighted-average grant date fair value per unit of $25.46 and performance-based RSUs totaling 151,623 with a weighted-average grant date fair value per unit of $47.76. The number of performance-based RSUs granted is shown at target-level performance.
As of March 31, 2026 and December 31, 2025, the Company recognized liabilities for cash-settled performance stock units and CRSUs on the Condensed Consolidated Balance Sheets totaling approximately $81.7 million and $85.2 million, respectively. During the three months ended March 31, 2026 and 2025, the Company paid approximately $31.0 million and $10.9 million, respectively, to settle certain awards.
For the three months ended March 31, 2026 and 2025, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements totaling $30.1 million and $6.6 million, respectively. As of March 31, 2026, the balance of unamortized share-based compensation expense was $66.9 million, which is expected to be recognized over a weighted-average period of 1.2 years.