v3.26.1
Share-Based Compensation
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
As of June 30, 2026, there were 3,499,122 shares of common stock available for grant under the Tutor Perini Corporation Omnibus Incentive Plan (the “Plan”). During the six months ended June 30, 2026 and 2025, the Company granted (1) service-based RSUs totaling 249,776 and 408,111, respectively, with weighted-average grant date fair values per unit of $76.99 and $36.50, 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 58,510 and 381,410, respectively, with weighted-average grant date fair values per unit of $69.83 and $27.59, respectively; (3) performance-based RSUs totaling 102,760 and 151,623 with weighted-average grant date fair values per unit of $125.44 and $47.76, respectively; and (4) shares of unrestricted stock issued to its directors as part of their annual retainer totaling 21,649 and 40,710, respectively, with weighted-average grant date fair values per unit of $76.99 and $36.35, respectively. The number of performance-based RSUs granted is shown at target-level performance.
As of June 30, 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 $105.8 million and $85.2 million, respectively. During the six months ended June 30, 2026 and 2025, the Company paid approximately $31.0 million and $11.6 million, respectively, to settle certain awards.
For the three and six months ended June 30, 2026, the Company recognized, as part of general and administrative expenses, costs for share-based payment arrangements totaling $27.9 million and $57.9 million, respectively, and $55.4 million and $62.0 million for the three and six months ended June 30, 2025, respectively. As of June 30, 2026, the balance of unamortized share-based compensation expense was $83.4 million, which is expected to be recognized over a weighted-average period of 1.7 years.