Under the FTI Consulting, Inc. 2017 Omnibus Incentive Compensation Plan, as amended, there were 1,144,986 shares of common stock available for grant as of December 31, 2025.

The table below reflects the total share-based compensation expense recognized in our Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023:


	Year Ended December 31,

Income Statement Classification	2025		2024		2023
Direct cost of revenues	$	26,821	$	22,179	$	19,067
Selling, general and administrative expenses	14,884		20,002		17,205

Total	$	41,705	$	42,181	$	36,272


	Shares	Weighted Average Grant Date Fair Value
Restricted share awards outstanding at December 31, 2024	611	$	147.80
Restricted share awards granted	159	$	165.35
Restricted share awards vested	(159)	$	98.99
Restricted share awards forfeited	(37)	$	171.69
Restricted share awards outstanding at December 31, 2025	574	$	164.70

As of December 31, 2025, there was $61.7 million of unrecognized compensation cost related to unvested restricted share awards. That cost is expected to be recognized ratably over a weighted average period of 3.8 years. The total fair value of restricted share awards that vested during the years ended December 31, 2025, 2024 and 2023 was $26.8 million, $28.1 million and $29.0 million, respectively.


	Shares	Weighted Average Grant Date Fair Value
Restricted stock units outstanding at December 31, 2024	489	$	130.79
Restricted stock units granted	115	$	166.84
Restricted stock units released	(104)	$	91.92
Restricted stock units forfeited	(18)	$	179.09
Restricted stock units outstanding at December 31, 2025	482	$	146.01

As of December 31, 2025, there was $38.2 million of unrecognized compensation cost related to unvested restricted stock units. That cost is expected to be recognized ratably over a weighted average period of 3.8 years. The total fair value of restricted stock units released for the years ended December 31, 2025, 2024 and 2023 was $17.9 million, $8.7 million and $6.6 million, respectively.

Performance stock units represent common stock potentially issuable in the future, subject to achievement of either market or performance conditions. Our current outstanding performance stock units that are subject to market conditions vest based on the adjusted total shareholder return of the Company as compared to the adjusted total shareholder return of the Standard & Poor’s 500 Index over the applicable performance period. Our current outstanding performance stock units that are subject to performance conditions vest based on Adjusted EBITDA metrics over the applicable performance period. The vesting and payout range for all of our performance stock units is typically between 0% and up to 150% of the target number of shares granted at the end of a two- or three-year performance period.


	Shares	Weighted Average Grant Date Fair Value
Performance stock units outstanding at December 31, 2024	208	$	190.14
Performance stock units granted (1)	106	$	158.26
Performance stock units released	(59)	$	164.88
Performance stock units forfeited (2)	(44)	$	184.44
Performance stock units outstanding at December 31, 2025	211	$	182.42

(2) Performance stock units are forfeited when the market or performance conditions for maximum payout are not achieved, including performance stock units that do not achieve any payout, or the employee is terminated prior to vesting.

As of December 31, 2025, there was $6.2 million of unrecognized compensation cost related to unvested performance stock units. That cost is expected to be recognized ratably over a weighted average period of 0.8 years. The total fair value of performance stock units released during the years ended December 31, 2025, 2024 and 2023 was $11.1 million, $15.2 million and $11.7 million, respectively.

The weighted average grant date fair value per share of restricted share awards, restricted stock units and performance stock units awarded during the years ended December 31, 2025, 2024 and 2023 was $163.83, $211.79 and $187.85, respectively. The fair value of our restricted share awards, restricted stock units and performance stock units that are subject to performance conditions is determined based on the closing market price per share of our common stock on the grant date. The fair value of our performance stock units subject to market conditions is calculated using a Monte Carlo pricing model as of the grant date.

We did not grant any stock options during the years ended December 31, 2025, 2024 and 2023. Historically, we used the Black-Scholes option-pricing model to determine the fair value of our stock option grants.


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Stock options outstanding at December 31, 2024	60	$	37.93

Stock options exercised	(38)	$	36.53

Stock options outstanding and exercisable at December 31, 2025	22	$	40.36	1.2	$	2,876

Cash received from option exercises for the years ended December 31, 2025, 2024 and 2023 was $1.4 million, $10.9 million and $1.3 million, respectively. The tax benefit realized from stock options exercised was immaterial for each of the years ended December 31, 2025, 2024 and 2023.

The intrinsic value of stock options exercised is the amount by which the market value of our common stock on the exercise date exceeds the exercise price. The total intrinsic value of stock options exercised for the years ended December 31, 2025, 2024 and 2023 was $4.9 million, $52.0 million and $6.0 million, respectively.