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Share-Based and Other Deferred Compensation
9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based and Other Deferred Compensation
Share-Based and Other Deferred Compensation

Equity Grants
During the nine months ended September 30, 2015, the Company granted employees 2,559 RSUs that are Service-based Awards. Service-based Awards granted during the nine months ended September 30, 2015 had grant date fair values of $48.41 to $58.47 per share. During the nine months ended September 30, 2015, 2,202 Service-based Awards vested and 164 Service-based Awards were forfeited.
Compensation expense related to Service-based Awards was $25,124 and $80,083 for the three and nine months ended September 30, 2015, respectively, and $22,243 and $69,334 for the three and nine months ended September 30, 2014, respectively.

Deferred Cash Program
The Company's deferred compensation program provides participants the ability to elect to receive a portion of their deferred compensation in cash, which is indexed to a notional investment portfolio and vests ratably over four years and requires payment upon vesting. Compensation expense related to this deferred compensation program was $272 and $1,154 for the three and nine months ended September 30, 2015, respectively, and $878 and $2,718 for the three and nine months ended September 30, 2014, respectively.
Acquisition-related LP Units

Equities business - In conjunction with the acquisition of the operating businesses of International Strategy & Investment ("ISI") in 2014, the Company issued Class E LP Units and Class G and H LP Interests which are treated as compensation. The Class E LP Units issued includes 710 vested Class E LP Units and an allocation of the value, attributed to post-combination service, of 710 Class E LP Units that were unvested and will vest ratably on October 31, 2015, 2016 and 2017 and become exchangeable once vested, subject to continued employment with the Company. The units will become exchangeable into Class A Shares of the Company subject to certain liquidated damages and continued employment provisions. Compensation expense related to Class E LP Units was $6,193 and $16,155 for the three and nine months ended September 30, 2015, respectively.
The Company also issued 538 vested and 540 unvested Class G LP Interests in 2014, which will vest ratably on February 15, 2016, 2017 and 2018, and 2,044 vested and 2,051 unvested Class H LP Interests in 2014, which will vest ratably on February 15, 2018, 2019 and 2020. The Company’s vested Class G LP Interests will become exchangeable in February 2016, 2017 and 2018 if certain earnings before interest and taxes, excluding underwriting, ("Management Basis EBIT") margin thresholds, within a range of 12% to 16%, are achieved for the calendar year preceding the date the interests become exchangeable. The Company’s vested Class H LP Interests will become exchangeable in February 2018, 2019 and 2020 if certain average Management Basis EBIT and Management Basis EBIT margin thresholds, within ranges of $8,000 to $48,000 and 7% to 17%, respectively, are achieved for the three calendar years preceding the date the interests become exchangeable. The amount of Class H LP Interests which become exchangeable are scaled to the threshold levels achieved.
Based on Evercore ISI’s results for the first nine months of 2015, the anticipated seasonality of results in the equities business and the anticipated impact of certain efficiency initiatives identified and executed during the period, the Company determined that the achievement of certain of the performance thresholds for the Class G and H LP Interests was probable at September 30, 2015. This determination was based on an assumed Management Basis EBIT margin of 15.7% and annual Management Basis EBIT over the performance period of $34,600 for Evercore ISI. Accordingly, $15,657 and $48,970 of expense was recorded for the three and nine months ended September 30, 2015, respectively, for the Class G and H LP Interests.

Other Acquisition Related
Lexicon - Compensation expense related to The Lexicon Partnership LLP ("Lexicon") Acquisition-related Awards and deferred cash consideration was $1,237 and $301, respectively, for the nine months ended September 30, 2015. Compensation expense related to the Lexicon Acquisition-related Awards and deferred cash consideration was $629 and ($36), respectively, for the three months ended September 30, 2014, and $4,626 and $1,663, respectively, for the nine months ended September 30, 2014.

Long-term Incentive Plan
The Company's Long-term Incentive Plan provides for incentive compensation awards to Advisory Senior Managing Directors, excluding executive officers of the Company, who exceed defined benchmark results over a four-year performance period beginning January 1, 2013. These awards will be paid, in cash or Class A Shares, at the Company's discretion, in the two years following the performance period, to Senior Managing Directors employed by the Company at the time of payment. These awards are subject to retirement eligibility requirements. The Company periodically assesses the probability of the benchmarks being achieved and expenses the probable payout over the requisite service period of the award. Compensation expense related to these awards was $1,547 and $4,590 for the three and nine months ended September 30, 2015, respectively, and $1,043 and $3,186 for the three and nine months ended September 30, 2014, respectively.
Other
Periodically, the Company provides new and existing employees with cash payments in the form of loans and/or other cash awards which are subject to ratable vesting terms with service requirements ranging from one to five years. Generally, the terms of these awards include a requirement of either full or partial repayment of these awards based on the terms of their employment agreements with the Company. In circumstances where the employee meets the Company's minimum credit standards, the Company amortizes these awards to compensation expense over the relevant service period which is generally the period they are subject to forfeiture. Compensation expense related to these awards was $3,483 and $12,434 for the three and nine months ended September 30, 2015, respectively, and $4,043 and $9,693 for the three and nine months ended September 30, 2014, respectively. The remaining unamortized amount of these awards was $24,119 as of September 30, 2015.

The Company granted separation benefits to certain employees, resulting in expense included in Employee Compensation and Benefits of approximately $1,124 and $4,920 for the three and nine months ended September 30, 2015, respectively, and $186 and $4,775 for the three and nine months ended September 30, 2014, respectively. In conjunction with these arrangements, the Company distributed cash payments of $674 and $2,205 for the three and nine months ended September 30, 2015, respectively, and $280 and $3,281 for the three and nine months ended September 30, 2014, respectively. The Company also granted separation benefits to certain employees, resulting in expense included in Special Charges of approximately $1,863 for the nine months ended September 30, 2015 and $3,336 for the three and nine months ended September 30, 2014. In conjunction with these arrangements, the Company distributed cash payments of $487 for the nine months ended September 30, 2015 and $110 for the three and nine months ended September 30, 2014. See Note 4 for further information.