Share-Based and Other Deferred Compensation

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based and Other Deferred Compensation

Share-Based and Other Deferred Compensation

During the six months endedJune 30, 2013, the Company granted employees 2,193 Service-based Awards. These awards had grant date fair values ranging from $26.60 to $43.26 per share. During the six months endedJune 30, 2013, 1,870 Service-based Awards vested and 44 Service-based Awards were forfeited.

During the first quarter of 2011, the Company launched a deferred compensation program providing participants the ability to elect to receive a portion of their deferred compensation in deferred 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 $838 and $1,829for the three and six months ended June 30, 2013, respectively, and $1,281 and $2,265for the three and six months ended June 30, 2012, respectively.

Compensation expense related to Service-based Awards, excluding compensation costs related to the amortization of the LP Units, was $20,634 and $41,227for the three and six months ended June 30, 2013, respectively, and $16,038 and $30,699for the three and six months ended June 30, 2012, respectively. Compensation expense related to amortization of the LP Units was $4,813 and $10,423for the three and six months ended June 30, 2013, respectively, and $5,069 and $9,828for the three and six months ended June 30, 2012, respectively. Compensation expense related to acquisition-related awards and deferred cash consideration was $3,618 and $1,214, respectively, for the three months ended June 30, 2013, and $7,226 and $2,263, respectively, for the six months endedJune 30, 2013. Compensation expense related to acquisition-related awards and deferred cash consideration was $4,379 and $1,751, respectively, for the three months ended June 30, 2012, and $10,632 and $4,621, respectively, for the six months endedJune 30, 2012.

During the second quarter of 2013, the Company's stockholders approved the amended and restated 2006 Evercore Partners Inc. Stock Incentive Plan. The amended and restated plan, among other things, authorizes an additional 5,000 shares of the Company's Class A Shares.

On July 23, 2013, the Company's board approved the Long-term Incentive Plan, which 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 (subject to retirement eligibility requirements).