What changed in this filing

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Item 1. Financial Statements

2026-08-05 compared with 2026-05-06 · 304 added, 254 removed, 873 unchanged (39% of the section changed)

1 unchanged sentence

Condensed Consolidated Financial Statements (Unaudited) Page

Condensed Consolidated Statements of Financial Condition as of March 31, 202 6 and December 31, 202 5

Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Changes in Equity for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 202 6 and 202 5

Condensed Consolidated Statements of Financial Condition as of June 3 0 , 2026 and December 31, 2025

Condensed Consolidated Statements of Operations for the three and six months ended June 3 0 , 2026 and 2025

Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 3 0 , 2026 and 2025

Condensed Consolidated Statements of Changes in Equity for the three and six months ended June 3 0 , 2026 and 2025

Condensed Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2026 and 2025

Notes to Unaudited Condensed Consolidated Financial Statements

2 unchanged sentences

(dollars in thousands, except share data)

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Current Assets

Cash and Cash Equivalents $ 1,256,599 $ 1,426,020

Investment Securities and Certificates of Deposit (includes available-for-sale debt securities with an amortized cost of $ 877,606 at December 31, 2025)

Investment Securities and Certificates of Deposit (includes available-for-sale debt securities with an amortized cost of $ 199,307 and $ 877,606 at June 30, 2026 and December 31, 2025, respectively)

1,148,333 1,580,638

Accounts Receivable (net of allowances of $ 2,810 and $ 2,983 at March 31, 2026 and December 31, 2025, respectively)

Accounts Receivable (net of allowances of $ 5,521 and $ 2,983 at June 30, 2026 and December 31, 2025, respectively)

568,468 555,812

5 unchanged sentences

Operating Lease Right-of-Use Assets 445,263 457,152

Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $ 176,143 and $ 170,272 at March 31, 2026 and December 31, 2025, respectively)

Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $ 181,724 and $ 170,272 at June 30, 2026 and December 31, 2025, respectively)

189,453 190,064

Goodwill 227,844 230,783

Intangible Assets (net of accumulated amortization of $ 7,316 and $ 3,727 at March 31, 2026 and December 31, 2025, respectively)

Intangible Assets (net of accumulated amortization of $ 11,006 and $ 3,727 at June 30, 2026 and December 31, 2025, respectively)

22,277 30,090

20 unchanged sentences

Stockholders' Equity

Class A, par value $ 0.01 per share ( 1,000,000,000 shares authorized, 89,656,198 and 87,572,820 issued at March 31, 2026 and December 31, 2025, respectively, and 38,676,527 and 38,522,790 outstanding at March 31, 2026 and December 31, 2025, respectively)

Class B, par value $ 0.01 per share ( 1,000,000 shares authorized, 46 and 45 issued and outstanding at March 31, 2026 and December 31, 2025, respectively)

Class A, par value $ 0.01 per share ( 1,000,000,000 shares authorized, 89,765,142 and 87,572,820 issued at June 30, 2026 and December 31, 2025, respectively, and 38,454,700 and 38,522,790 outstanding at June 30, 2026 and December 31, 2025, respectively)

Class B, par value $ 0.01 per share ( 1,000,000 shares authorized, 46 and 45 issued and outstanding at June 30, 2026 and December 31, 2025, respectively)

Additional Paid-In Capital 4,272,786 4,024,496

1 unchanged sentence

Retained Earnings 2,903,674 2,581,815

Treasury Stock at Cost ( 50,979,671 and 49,050,030 shares at March 31, 2026 and December 31, 2025, respectively)

Treasury Stock at Cost ( 51,310,442 and 49,050,030 shares at June 30, 2026 and December 31, 2025, respectively)

( 5,296,394 ) ( 4,562,483 )

8 unchanged sentences

(dollars and share amounts in thousands, except per share data)

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Investment Banking & Equities:

10 unchanged sentences

Professional Fees 33,044 23,133 61,399 45,523

28,355 22,390

Travel and Related Expenses 35,331 23,984 63,202 46,002

Technology and Information Services 43,961 36,587 84,379 69,954

40,418 33,367

Depreciation and Amortization 12,577 6,450 25,015 12,426

Execution, Clearing and Custody Fees 3,052 3,180 6,239 6,526

Special Charges, Including Business Realignment Costs 21,315 — 21,315 —

Acquisition and Transition Costs — 1,637 1,800 1,637

4 unchanged sentences

Income Before Income Taxes 147,594 151,204 479,371 263,267

Provision (Benefit) for Income Taxes 9,056 ( 41,727 )

Provision for Income Taxes 41,094 44,265 50,150 2,538

Net Income 106,500 106,939 429,221 260,729

11 unchanged sentences

Diluted $ 2.32 $ 2.36 $ 9.56 $ 5.85

(1) Certain balances in prior periods were reclassified to conform to the current presentation.

See Note 2 for further information.

See Notes to Unaudited Condensed Consolidated Financial Statements.

2 unchanged sentences

(dollars in thousands)

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Net Income $ 106,500 $ 106,939 $ 429,221 $ 260,729

11 unchanged sentences

(dollars in thousands, except share data)

For the Three Months Ended March 31, 2026

For the Three Months Ended June 30, 2026

Additional Other

1 unchanged sentence

Shares Dollars Capital Income (Loss) Earnings Shares Dollars Interest Equity

Balance at March 31, 2026 89,656,198 $ 897 $ 4,141,883 $ ( 23,199 ) $ 2,846,337 ( 50,979,671 ) $ ( 5,183,832 ) $ 306,515 $ 2,088,601

Net Income — — — — 95,277 — — 11,223 106,500

Other Comprehensive Income — — — 791 — — — 67 858

Treasury Stock Purchases — — — — — ( 330,771 ) ( 112,562 ) — ( 112,562 )

Evercore LP Units Exchanged for Class A Common Stock 44,479 — 5,865 — — — — ( 4,988 ) 877

Equity-based Compensation Awards 64,465 1 131,990 — — — — 15,991 147,982

Dividends — — — — ( 37,940 ) — — — ( 37,940 )

Noncontrolling Interest (Note 13) — — ( 6,952 ) — — — — ( 9,061 ) ( 16,013 )

Balance at June 30, 2026 89,765,142 $ 898 $ 4,272,786 $ ( 22,408 ) $ 2,903,674 ( 51,310,442 ) $ ( 5,296,394 ) $ 319,747 $ 2,178,303

For the Six Months Ended June 30, 2026

Additional Other

Class A Common Stock Paid-In Comprehensive Retained Treasury Stock Noncontrolling Total

Shares Dollars Capital Income (Loss) Earnings Shares Dollars Interest Equity

Balance at December 31, 2025 87,572,820 $ 876 $ 4,024,496 $ ( 13,128 ) $ 2,581,815 ( 49,050,030 ) $ ( 4,562,483 ) $ 288,290 $ 2,319,866

6 unchanged sentences

Noncontrolling Interest (Note 13) — — ( 6,952 ) — — — — ( 20,694 ) ( 27,646 )

Balance at June 30, 2026 89,765,142 $ 898 $ 4,272,786 $ ( 22,408 ) $ 2,903,674 ( 51,310,442 ) $ ( 5,296,394 ) $ 319,747 $ 2,178,303

For the Three Months Ended June 30, 2025

Additional Other

Class A Common Stock Paid-In Comprehensive Retained Treasury Stock Noncontrolling Total

Shares Dollars Capital Income (Loss) Earnings Shares Dollars Interest Equity

Balance at March 31, 2025 86,863,201 $ 869 $ 3,596,161 $ ( 28,210 ) $ 2,245,124 ( 48,206,094 ) $ ( 4,307,384 ) $ 245,095 $ 1,751,655

For the Three Months Ended March 31, 2025

Net Income — — — — 97,201 — — 9,738 106,939

Other Comprehensive Income — — — 17,293 — — — 1,390 18,683

Treasury Stock Purchases — — — — — ( 183,033 ) ( 43,205 ) — ( 43,205 )

Evercore LP Units Exchanged for Class A Common Stock 86,625 1 11,026 — — — — ( 8,772 ) 2,255

Equity-based Compensation Awards 32,817 — 103,752 — — — — 19,847 123,599

Dividends — — — — ( 36,329 ) — — — ( 36,329 )

Noncontrolling Interest (Note 13) — — ( 1,220 ) — — — — ( 3,883 ) ( 5,103 )

Balance at June 30, 2025 86,982,643 $ 870 $ 3,709,719 $ ( 10,917 ) $ 2,305,996 ( 48,389,127 ) $ ( 4,350,589 ) $ 263,415 $ 1,918,494

For the Six Months Ended June 30, 2025

Additional Other

9 unchanged sentences

Noncontrolling Interest (Note 13) — — ( 1,220 ) — — — — ( 11,731 ) ( 12,951 )

Balance at March 31, 2025 86,863,201 $ 869 $ 3,596,161 $ ( 28,210 ) $ 2,245,124 ( 48,206,094 ) $ ( 4,307,384 ) $ 245,095 $ 1,751,655

Balance at June 30, 2025 86,982,643 $ 870 $ 3,709,719 $ ( 10,917 ) $ 2,305,996 ( 48,389,127 ) $ ( 4,350,589 ) $ 263,415 $ 1,918,494

See Notes to Unaudited Condensed Consolidated Financial Statements.

2 unchanged sentences

(dollars in thousands)

For the Three Months Ended March 31,

For the Six Months Ended June 30,

Cash Flows From Operating Activities

1 unchanged sentence

Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities:

Net Losses on Investments, Investment Securities and Contingent Consideration 8,573 7,120

Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration ( 11,160 ) ( 7,723 )

Equity Method Investments 99 189

17 unchanged sentences

Cash Flows From Investing Activities

Investments Purchased — ( 1,000 )

Distributions of Private Equity Investments — 1,270

65 unchanged sentences

("Evercore Canada"), Evercore Asia Limited ("Evercore Hong Kong"), Evercore Asia (Singapore) Pte.

("Evercore Singapore") and PT Evercore Advisory Indonesia ("Evercore Indonesia") are also VIEs, and the Company is the primary beneficiary of these VIEs.

Specifically for Evercore ISI U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia, the Company provides financial support through transfer pricing agreements with these entities, which exposes the Company to losses that are potentially significant to these entities, and has decision making authority that significantly affects the economic performance of these entities.

("Evercore Singapore"), PT Evercore Advisory Indonesia ("Evercore Indonesia") and Evercore Israel L.L.C.

("Evercore Israel") are also VIEs, and the Company is the primary beneficiary of these VIEs.

Specifically for Evercore ISI U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore, Evercore Indonesia and Evercore Israel, the Company provides financial support through transfer pricing agreements with these entities, which exposes the Company to losses that are potentially significant to these entities, and has decision making authority that significantly affects the economic performance of these entities.

The Company has the majority economic interest in Evercore U.K.

and has decision making authority that significantly affects the economic performance of this entity.

The Company included in its Unaudited Condensed Consolidated Statements of Financial Condition Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia assets of $ 1,133,162 and liabilities of $ 342,720 at March 31, 2026 and assets of $ 1,269,753 and liabilities of $ 485,879 at December 31, 2025.

The Company included in its Unaudited Condensed Consolidated Statements of Financial Condition Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore, Evercore Indonesia and Evercore Israel assets of $ 1,219,499 and liabilities of $ 425,132 at June 30, 2026 and Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia assets of $ 1,269,753 and liabilities of $ 485,879 at December 31, 2025.

All intercompany balances and transactions with the Company's subsidiaries have been eliminated upon consolidation.

Reclassifications – During the second quarter of 2025, certain balances on the Unaudited Condensed Consolidated Statements of Operations for prior periods were reclassified to conform to the current presentation, with no impact on previously reported Net Income.

Technology and Information Services – The Company renamed "Communications and Information Services" to "Technology and Information Services" on the Unaudited Condensed Consolidated Statements of Operations and reclassified $ 10,223 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three months ended March 31, 2025.

Note 3 – Recent Accounting Pronouncements

16 unchanged sentences

Measurement of Credit Losses for Accounts Receivable and Contract Assets" ("ASU 2025-05").

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

when developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, "Revenue from Contracts with Customers" ("ASC 606").

ASU 2025-05 provides amendments to ASC 326, "Financial Instruments – Credit Losses" ("ASC 326"), which allow entities to elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset when developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, "Revenue from Contracts with Customers" ("ASC 606").

The amendments in this update are effective for fiscal years beginning after December 15, 2025 and interim periods within those fiscal years, with early adoption permitted.

1 unchanged sentence

The Company adopted ASU 2025-05 on January 1, 2026 on a prospective basis and elected the practical expedient provided by ASU 2025-05.

Under this expedient, the Company assumes that economic conditions as of the balance sheet date remain unchanged for the remaining life of all current accounts receivable and current contract assets arising from transactions under ASC 606.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

under ASC 606.

The Company continues to estimate expected credit losses for non-current receivables and contract assets in accordance with ASC 326's standard methodology.

15 unchanged sentences

Note 4 – Revenue and Accounts Receivable

The following table presents revenue recognized by the Company for the three months ended March 31, 2026 and 2025:

For the Three Months Ended March 31,

The following table presents revenue recognized by the Company for the three and six months ended June 30, 2026 and 2025:

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Investment Banking & Equities:

10 unchanged sentences

The change in the Company’s contract assets and liabilities during the following periods primarily reflects timing differences between the Company’s performance and the client’s payment.

The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the three months ended March 31, 2026 and 2025 are as follows:

The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the six months ended June 30, 2026 and 2025 are as follows:

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

For the Three Months Ended March 31, 2026

For the Six Months Ended June 30, 2026

(Current) (1)

6 unchanged sentences

Increase (Decrease) 12,656 17,699 ( 100,287 ) 3,938 6,686

Balance at March 31, 2026 $ 546,568 $ 143,568 $ 61,562 $ 31,547 $ 22,648

For the Three Months Ended March 31, 2025

Balance at June 30, 2026 $ 568,468 $ 147,552 $ 47,157 $ 31,843 $ 12,681

For the Six Months Ended June 30, 2025

(Current) (1)

5 unchanged sentences

Balance at January 1, 2025 $ 421,502 $ 101,314 $ 62,379 $ 14,477 $ 3,582

Increase (Decrease) 47,645 12,152 ( 29,713 ) 1,057 3,094

Balance at March 31, 2025 $ 469,147 $ 113,466 $ 32,666 $ 15,534 $ 6,676

Increase 62,473 11,644 14,969 1,726 2,695

Balance at June 30, 2025 $ 483,975 $ 112,958 $ 77,348 $ 16,203 $ 6,277

(1) Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition.

4 unchanged sentences

Under ASC 606, revenue is recognized when all material conditions for completion have been met and it is probable that a significant revenue reversal will not occur in a future period.

The Company recognized revenue of $ 7,804 and $ 5,110 on the Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025, respectively, that was initially included in deferred revenue within Other Current Liabilities on the Company’s Unaudited Condensed Consolidated Statements of Financial Condition.

The Company recognized revenue of $ 25,517 and $ 33,321 on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, respectively, and $ 5,931 and $ 11,041 for the three and six months ended June 30, 2025, respectively, that was initially included in deferred revenue within Other Current Liabilities on the Company’s Unaudited Condensed Consolidated Statements of Financial Condition.

Generally, performance obligations under client arrangements will be settled within one year ;

therefore, the Company has elected to apply the practical expedient in ASC 606-10-50-14.

The allowance for credit losses for the three months ended March 31, 2026 and 2025 is as follows:

For the Three Months Ended March 31,

The allowance for credit losses for the three and six months ended June 30, 2026 and 2025 is as follows:

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Beginning Balance $ 2,810 $ 3,183 $ 2,983 $ 2,253

2 unchanged sentences

Ending Balance $ 5,521 $ 3,894 $ 5,521 $ 3,894

The change in the balance during the three months ended March 31, 2026 is primarily related to a decrease in the Company's reserve for credit losses and the write-off of aged receivables.

The change in the balance during the three and six months ended June 30, 2026 is primarily related to an increase in the Company's reserve for credit losses and the write-off of aged receivables.

For long-term accounts receivable and long-term contract assets, the Company monitors clients’ creditworthiness based on collection experience and other internal metrics.

The following table presents the Company’s long-term accounts receivable and long-term contract assets, primarily from the Company's private and secondary fund advisory businesses, as of March 31, 2026, by year of origination:

Amortized Carrying Value by Origination Year

2026 2025 2024 2023 2022 Total

Long-term Accounts Receivable and Long-term Contract Assets $ 36,734 $ 91,709 $ 33,188 $ 10,330 $ 3,154 $ 175,115

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

Amortized Carrying Value by Origination Year

2026 2025 2024 2023 2022 Total

Long-term Accounts Receivable and Long-term Contract Assets $ 61,722 $ 81,975 $ 27,368 $ 6,289 $ 2,041 $ 179,395

Note 5 – Business Changes and Developments

5 unchanged sentences

See Note 15 for further information.

Additionally, the Company will deliver to the sellers £ 74,813 ($ 100,796 ) due on the first anniversary of the closing (in Class A Shares or cash), the present value of which was $ 96,132 and $ 96,538 as of March 31, 2026 and December 31, 2025, respectively, and is classified within Payable to Employees and Related Parties on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The sellers are also entitled to contingent consideration, which had a fair value of $ 25,256 and $ 24,521 as of March 31, 2026 and December 31, 2025, respectively, and will be payable on various dates between closing and shortly following the six th anniversary of closing, dependent on the achievement of certain performance thresholds over a multi-year period.

Additionally, the Company will deliver to the sellers £ 74,813 ($ 99,202 as of June 30, 2026) due on the first anniversary of the closing (in Class A Shares or cash), the present value of which was $ 97,805 and $ 96,538 as of June 30, 2026 and December 31, 2025, respectively, and is classified within Payable to Employees and Related Parties on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The sellers are also entitled to contingent consideration, which had a fair value of $ 26,935 and $ 24,521 as of June 30, 2026 and December 31, 2025, respectively, and will be payable on various dates between closing and shortly following the six th anniversary of closing, dependent on the achievement of certain performance thresholds over a multi-year period.

This contingent consideration is recorded within Other Long-term Liabilities on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The change in the fair value of the contingent consideration resulted in Other Operating Expenses of $ 1,203 for the three months ended March 31, 2026 on the Unaudited Condensed Consolidated Statement of Operations.

The change in the fair value of the contingent consideration resulted in Other Operating Expenses of $ 1,613 and $ 2,816 for the three and six months ended June 30, 2026, respectively, on the Unaudited Condensed Consolidated Statements of Operations.

As part of the consideration transferred to the sellers, the Company also issued performance-based awards which are treated as compensation for accounting purposes.

2 unchanged sentences

Intangible Asset Amortization

Expense associated with the amortization of intangible assets for the Investment Banking & Equities segment was $ 3,730 for the three months ended March 31, 2026, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statement of Operations.

Expense associated with the amortization of intangible assets for the Investment Banking & Equities segment was $ 3,712 and $ 7,442 for the three and six months ended June 30, 2026, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations.

Acquisition and Transition Costs

The Company incurred acquisition-related costs of $ 1,800 for the three months ended March 31, 2026, related to the impairment of a lease related to the acquisition of Robey Warshaw, which are included in Acquisition and Transition Costs on the Unaudited Condensed Consolidated Statement of Operations.

The Company incurred acquisition-related costs of $ 1,800 for the six months ended June 30, 2026, related to the impairment of a lease in conjunction with the acquisition of Robey Warshaw, and $ 1,637 for the three and six months ended June 30, 2025, comprised of professional fees for legal and other services, which are included in Acquisition and Transition Costs on the Unaudited Condensed Consolidated Statements of Operations.

Note 6 – Related Parties

Advisory Fees includes fees earned from clients that have the Company's Senior Managing Directors, certain Senior Advisors and executives as a member of their Board of Directors of $ 1,913 and $ 1,271 for the three months ended March 31, 2026 and 2025, respectively.

Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition includes the long-term portion of loans receivable from certain employees of $ 37,253 and $ 34,675 as of March 31, 2026 and December 31, 2025, respectively.

Advisory Fees includes fees earned from clients that have the Company's Senior Managing Directors, certain Senior Advisors and executives as a member of their Board of Directors of $ 476 and $ 2,389 for the three and six months ended June 30, 2026, respectively, and $ 1,271 for the six months ended June 30, 2025.

Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition includes the long-term portion of loans receivable from certain employees of $ 33,807 and $ 34,675 as of June 30, 2026 and December 31, 2025, respectively.

See Note 15 for further information.

Note 7 – Investment Securities and Certificates of Deposit

The Company's Investment Securities and Certificates of Deposit as of June 30, 2026 and December 31, 2025 were as follows:

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

Note 7 – Investment Securities and Certificates of Deposit

The Company's Investment Securities and Certificates of Deposit as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Debt Securities $ 199,318 $ 877,803

9 unchanged sentences

Treasury securities, are stated at fair value with unrealized gains and losses included in Accumulated Other Comprehensive Income (Loss) on the Unaudited Condensed Consolidated Statements of Financial Condition and realized gains and losses included in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, on a specific identification basis.

Gross unrealized gains included in Accumulated Other Comprehensive Income (Loss) were $ 218 as of December 31, 2025.

Gross unrealized gains included in Accumulated Other Comprehensive Income (Loss) were $ 11 and $ 218 as of June 30, 2026 and December 31, 2025, respectively.

Gross unrealized losses included in Accumulated Other Comprehensive Income (Loss) were ($ 21 ) as of December 31, 2025.

Net unrealized gains (losses) included in Other Comprehensive Income were ($ 195 ) and ($ 301 ) for the three months ended March 31, 2026 and 2025, respectively.

Gross realized gains included within Other Revenue, Including Interest and Investments, were $ 3 for each of the three months ended March 31, 2026 and 2025.

Gross realized losses included within Other Revenue, Including Interest and Investments, were ($ 42 ) and ($ 20 ) for the three months ended March 31, 2026 and 2025, respectively.

Proceeds from the sales and maturities of available-for-sale securities, including interest, were $ 881,184 and $ 816,039 for the three months ended March 31, 2026 and 2025, respectively.

Scheduled maturities of the Company's available-for-sale debt securities as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026 December 31, 2025

Net unrealized gains (losses) included in Other Comprehensive Income were $ 7 and ($ 188 ) for the three and six months ended June 30, 2026, respectively, and $ 8 and ($ 293 ) for the three and six months ended June 30, 2025, respectively.

Gross realized gains included within Other Revenue, Including Interest and Investments, were $ 3 for each of the six months ended June 30, 2026 and 2025.

Gross realized losses included within Other Revenue, Including Interest and Investments, were ($ 42 ) and ($ 20 ) for the six months ended June 30, 2026 and 2025, respectively.

Proceeds from the sales and maturities of available-for-sale securities, including interest, were $ 881,184 for the six months ended June 30, 2026 and $ 25,925 and $ 841,964 for the three and six months ended June 30, 2025, respectively.

Scheduled maturities of the Company's available-for-sale debt securities as of June 30, 2026 and December 31, 2025 were as follows:

June 30, 2026 December 31, 2025

Cost Fair Value Amortized

3 unchanged sentences

The Company has the ability and intent to hold available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity.

Further, as of December 31, 2025, the securities are all U.S.

Further, the securities are all U.S.

Treasury securities and the Company has not incurred credit losses on its securities.

As such, the Company does not consider these securities to be impaired at December 31, 2025 and has not recorded a credit allowance on these securities.

As such, the Company does not consider these securities to be impaired at June 30, 2026 and has not recorded a credit allowance on these securities.

Equity Securities

Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

The Company had net unrealized gains (losses) of $ 85 and $ 20 for the three and six months ended June 30, 2026, respectively, and ($ 19 ) and ($ 108 ) for the three and six months ended June 30, 2025, respectively.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

Equity Securities

Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

The Company had net unrealized losses of ($ 65 ) and ($ 89 ) for the three months ended March 31, 2026 and 2025, respectively.

Debt Securities Carried by EGL

2 unchanged sentences

These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, as required for broker-dealers in securities.

The Company had net realized and unrealized losses of ($ 53 ) and ($ 104 ) for the three months ended March 31, 2026 and 2025, respectively.

The Company had net realized and unrealized gains (losses) of $ 74 and $ 21 for the three and six months ended June 30, 2026, respectively, and ($ 53 ) and ($ 157 ) for the three and six months ended June 30, 2025, respectively.

Investment Funds

2 unchanged sentences

These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

The Company had net realized and unrealized losses of ($ 7,214 ) and ($ 5,931 ) for the three months ended March 31, 2026 and 2025, respectively (of which ($ 35,094 ) and ($ 28,539 ), respectively, were net unrealized losses).

The Company had net realized and unrealized gains of $ 21,526 and $ 14,312 for the three and six months ended June 30, 2026, respectively, (of which $ 21,526 and ($ 13,568 ), respectively, were net unrealized gains (losses)) and $ 15,085 and $ 9,154 for the three and six months ended June 30, 2025, respectively, (of which $ 15,085 and ($ 13,454 ), respectively, were net unrealized gains (losses)).

Certificates of Deposit

At March 31, 2026 and December 31, 2025, the Company held certificates of deposit of $ 198,331 and $ 40,421 , respectively, with certain banks with original maturities of seven months or less when purchased.

At June 30, 2026 and December 31, 2025, the Company held certificates of deposit of $ 18,926 and $ 40,421 , respectively, with certain banks with original maturities of seven months or less when purchased.

Note 8 – Investments

6 unchanged sentences

Equity Method Investments

A summary of the Company's investments accounted for under the equity method of accounting as of March 31, 2026 and December 31, 2025 was as follows:

March 31, 2026 December 31, 2025

A summary of the Company's investments accounted for under the equity method of accounting as of June 30, 2026 and December 31, 2025 was as follows:

June 30, 2026 December 31, 2025

Atalanta Sosnoff $ 11,137 $ 11,261

3 unchanged sentences

The Company has an investment accounted for under the equity method of accounting in Atalanta Sosnoff.

At March 31, 2026, the Company's ownership interest in Atalanta Sosnoff was 49 %.

This investment resulted in earnings of $ 1,043 and $ 917 for the three months ended March 31, 2026 and 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

At June 30, 2026, the Company's ownership interest in Atalanta Sosnoff was 49 %.

This investment resulted in earnings of $ 1,000 and $ 2,043 for the three and six months ended June 30, 2026, respectively, and $ 804 and $ 1,721 for the three and six months ended June 30, 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

EVERCORE INC.

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The Company has an investment accounted for under the equity method of accounting in Seneca Evercore.

At March 31, 2026, the Company's ownership interest in Seneca Evercore was 20 %.

This investment resulted in earnings (losses) of $ 8 and ($ 38 ) for the three months ended March 31, 2026 and 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

At June 30, 2026, the Company's ownership interest in Seneca Evercore was 20 %.

This investment resulted in earnings (losses) of $ 18 and $ 26 for the three and six months ended June 30, 2026, respectively, and $ 11 and ($ 27 ) for the three and six months ended June 30, 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

This investment is subject to currency translation from the Brazilian real to the U.S.

1 unchanged sentence

The Company allocates the purchase price of its equity method investments, in part, to the inherent finite-lived identifiable intangible assets of the investees.

The Company's share of the earnings of the investees has been reduced by the amortization of these identifiable intangible assets of $ 62 for each of the three months ended March 31, 2026 and 2025.

The Company's share of the earnings of the investees has been reduced by the amortization of these identifiable intangible assets of $ 62 and $ 124 for each of the three and six months ended June 30, 2026 and 2025, respectively.

The Company assesses each of its equity method investments for impairment annually, or more frequently if circumstances indicate impairment may have occurred.

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Accordingly, the Company reflects its pro rata share of unrealized gains and losses occurring from changes in fair value, as well as its pro rata share of realized gains, losses and carried interest associated with any investment realizations.

A summary of the Company's investments in the private equity funds as of March 31, 2026 and December 31, 2025 was as follows:

March 31, 2026 December 31, 2025

A summary of the Company's investments in the private equity funds as of June 30, 2026 and December 31, 2025 was as follows:

June 30, 2026 December 31, 2025

Glisco II, Glisco III and Glisco IV $ 1,687 $ 1,927

1 unchanged sentence

Total Private Equity Funds $ 2,320 $ 2,652

Net realized and unrealized gains (losses) on private equity fund investments were $ 1 and ($ 980 ) for the three months ended March 31, 2026 and 2025, respectively.

Net realized and unrealized losses on private equity fund investments were ($ 339 ) and ($ 338 ) for the three and six months ended June 30, 2026, respectively, and ($ 114 ) and ($ 1,094 ) for the three and six months ended June 30, 2025, respectively.

In the event the funds perform poorly, the Company may be obligated to repay certain carried interest previously distributed.

As of March 31, 2026, there was no previously distributed carried interest received from the funds subject to repayment.

As of June 30, 2026, there was no previously distributed carried interest received from the funds subject to repayment.

General Partners of Private Equity Funds which are VIEs

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Further, as a limited partner in these entities, the Company does not possess substantive participating rights.

The Company had assets of $ 1,327 included in its Unaudited Condensed Consolidated Statements of Financial Condition at March 31, 2026 and December 31, 2025 related to these unconsolidated VIEs, representing the carrying value of the Company's investments in the entities.

The Company had assets of $ 1,226 and $ 1,327 included in its Unaudited Condensed Consolidated Statements of Financial Condition at June 30, 2026 and December 31, 2025, respectively, related to these unconsolidated VIEs, representing the carrying value of the Company's investments in the entities.

The Company's exposure to the obligations of these VIEs is generally limited to its investments in these entities.

The Company's maximum exposure to loss as of March 31, 2026 and December 31, 2025 was $ 3,510 which represents the carrying value of the Company's investments in these VIEs, as well as any unfunded commitments to the current and future funds.

The Company's maximum exposure to loss as of June 30, 2026 and December 31, 2025 was $ 3,408 and $ 3,510 , respectively, which

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

represents the carrying value of the Company's investments in these VIEs, as well as any unfunded commitments to the current and future funds.

Other Investments

In certain instances, the Company makes investments in private companies in exchange for equity securities and warrants, or receives equity securities in private companies in exchange for advisory services.

These investments, which had a balance of $ 1,660 and $ 1,673 as of March 31, 2026 and December 31, 2025, respectively, are accounted for at their cost minus impairment, if any, plus or minus changes resulting from observable price changes.

These investments, which had a balance of $ 1,662 and $ 1,673 as of June 30, 2026 and December 31, 2025, respectively, are accounted for at their cost minus impairment, if any, plus or minus amounts resulting from observable price changes.

Note 9 – Leases

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The Company does not have any leases with variable lease payments.

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office space of $ 20,521 and $ 17,353 for the three months ended March 31, 2026 and 2025, respectively, and variable lease cost, which principally include costs for real estate taxes, common area maintenance and other operating expenses of $ 1,380 and $ 1,655 for the three months ended March 31, 2026 and 2025, respectively.

In conjunction with the lease of office space, the Company has entered into letters of credit in the amount of $ 6,083 and $ 6,037 as of March 31, 2026 and December 31, 2025, respectively, which are secured by cash that is included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office space of $ 19,077 and $ 39,598 for the three and six months ended June 30, 2026, respectively, and $ 18,039 and $ 35,392 for the three and six months ended June 30, 2025, respectively, and variable lease cost, which principally include costs for real estate taxes, common area maintenance and other operating expenses of $ 2,110 and $ 3,490 for the three and six months ended June 30, 2026, respectively, and $ 2,051 and $ 3,706 for the three and six months ended June 30, 2025, respectively.

In conjunction with the lease of office space, the Company has entered into letters of credit in the amount of $ 6,129 and $ 6,037 as of June 30, 2026 and December 31, 2025, respectively, which are secured by cash that is included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

The Company has entered into various operating leases for the use of office equipment (primarily computers, printers, copiers and other information technology related equipment).

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office equipment of $ 1,520 and $ 1,550 for the three months ended March 31, 2026 and 2025, respectively.

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office equipment of $ 1,341 and $ 2,861 for the three and six months ended June 30, 2026, respectively, and $ 1,836 and $ 3,386 for the three and six months ended June 30, 2025, respectively.

The Company uses its secured incremental borrowing rate to determine the present value of its right-of-use assets and lease liabilities.

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The Company scales the rates appropriately depending on the life of the leases.

The Company incurred net operating cash outflows of $ 21,240 and $ 15,609 for the three months ended March 31, 2026 and 2025, respectively, related to its operating leases, which was net of cash received from lease incentives of $ 3,408 for the three months ended March 31, 2025.

The Company incurred net operating cash outflows of $ 42,570 and $ 36,763 for the six months ended June 30, 2026 and 2025, respectively, related to its operating leases, which was net of cash received from lease incentives of $ 4,054 for the six months ended June 30, 2025.

Other information as it relates to the Company's operating leases is as follows:

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

New Right-of-Use Assets obtained in exchange for new operating lease liabilities $ 9,863 $ 5,754 $ 15,295 $ 24,228

March 31, 2026 March 31, 2025

June 30, 2026 June 30, 2025

Weighted-average remaining lease term - operating leases 8.8 years 9.7 years

Weighted-average discount rate - operating leases 4.88 % 4.80 %

As of March 31, 2026, the maturities of the undiscounted operating lease liabilities for which the Company has commenced use are as follows:

As of June 30, 2026, the maturities of the undiscounted operating lease liabilities for which the Company has commenced use are as follows:

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

2026 (April 1 through December 31) $ 64,535

2026 (July 1 through December 31) $ 44,272

Thereafter 350,986

6 unchanged sentences

The Company has entered into certain lease agreements, primarily for office space, which have not yet commenced and thus are not yet included on the Company's Unaudited Condensed Consolidated Statements of Financial Condition as right-of-use assets and lease liabilities.

The Company anticipates that these leases will commence in 2026 and will have lease terms of 3 to 7 years once they have commenced.

The additional future payments under these arrangements are $ 6,088 as of March 31, 2026.

The Company anticipates that these leases will commence in 2026 and 2027 and will have lease terms of 3 to 9 years once they have commenced.

The additional future payments under these arrangements are $ 30,735 as of June 30, 2026.

In September 2024, the Company entered into a binding agreement affirming its intent to lease office space in London, United Kingdom.

The Company anticipates signing the lease in 2026, following construction of the building, and anticipates that it will take possession of this space by the end of 2026.

The lease term will end in 2041.

The lease term is expected to end in 2041.

The expected approximate additional annual expense under this lease agreement, net of certain lease incentives, is £ 12,000 , and the aggregate expected additional future payments under this arrangement are £ 175,000 .

13 unchanged sentences

The inputs into the determination of fair value require significant management judgment or estimation.

The following table presents the categorization of investments and certain other financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:

The following table presents the categorization of investments and certain other financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025:

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

March 31, 2026

June 30, 2026

Level 1 Level 2 Level 3 Total

18 unchanged sentences

(1) Includes $ 11,808 and $ 23,108 of U.S.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, respectively.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2026 and December 31, 2025, respectively.

(2) The Company's contingent consideration liability is reflected, at fair value, within Other Long-term Liabilities on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

1 unchanged sentence

The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods.

The change in the fair value of the contingent consideration resulted in Other Operating Expenses of $ 1,613 and $ 2,816 for the three and six months ended June 30, 2026, respectively on the Unaudited Condensed Consolidated Statements of Operations.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy.

5 unchanged sentences

(amounts in thousands, except per share amounts, unless otherwise noted)

March 31, 2026

June 30, 2026

Carrying Estimated Fair Value

31 unchanged sentences

(1) Excludes $ 11,808 and $ 23,108 of U.S.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, respectively.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2026 and December 31, 2025, respectively.

(2) Includes Accounts Receivable, as well as long-term receivables, which are included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

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Interest on the notes is subject to certain escalation provisions in the event that the leverage ratio exceeds certain thresholds.

As of March 31, 2026, the Company was in compliance with all of these covenants.

Notes Payable is comprised of the following as of March 31, 2026 and December 31, 2025:

As of June 30, 2026, the Company was in compliance with all of these covenants.

Notes Payable is comprised of the following as of June 30, 2026 and December 31, 2025:

EVERCORE INC.

2 unchanged sentences

Carrying Value (1)

Note Maturity Date Effective Annual Interest Rate March 31, 2026 December 31, 2025

Note Maturity Date Effective Annual Interest Rate June 30, 2026 December 31, 2025

Evercore Inc.

31 unchanged sentences

Stockholders' Equity

Dividends – On April 28, 2026, the Company's Board of Directors declared a quarterly cash dividend of $ 0.89 per share to the holders of record of the Company's Class A Shares as of May 29, 2026, which will be paid on June 12, 2026.

During the three months ended March 31, 2026, the Company declared and paid dividends of $ 0.84 per share, totaling $ 32,990 , and accrued deferred cash dividends on restricted stock units ("RSUs") totaling $ 3,723 .

During the three months ended March 31, 2026, the Company also paid deferred cash dividends of $ 16,800 .

During the three months ended March 31, 2025, the Company declared and paid dividends of $ 0.80 per share, totaling $ 31,216 , and accrued deferred cash dividends on RSUs totaling $ 3,763 .

During the three months ended March 31, 2025, the Company also paid deferred cash dividends of $ 15,236 .

Treasury Stock – During the three months ended March 31, 2026, the Company purchased 904 Class A Shares from employees at an average cost per share of $ 344.71 , primarily for the net settlement of stock-based compensation awards, and 1,026 Class A Shares at an average cost per share of $ 302.01 pursuant to the Company's share repurchase program.

The aggregate 1,930 Class A Shares were purchased at an average cost per share of $ 322.00 and the result of these purchases was an increase in Treasury Stock of $ 621,349 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

Evercore LP Units – During the three months ended March 31, 2026, 65 Evercore LP partnership units ("LP Units") were exchanged for Class A Shares, resulting in an increase to Class A Common Stock and Additional Paid-In Capital of $ 1 and $ 6,855 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

Dividends – On July 28, 2026, the Company's Board of Directors declared a quarterly cash dividend of $ 0.89 per share to the holders of record of the Company's Class A Shares as of August 28, 2026, which will be paid on September 11, 2026.

During the three and six months ended June 30, 2026, the Company declared and paid dividends of $ 0.89 and $ 1.73 per share, respectively, totaling $ 34,296 and $ 67,286 , respectively, and accrued deferred cash dividends on restricted stock units ("RSUs") totaling $ 3,644 and $ 7,367 , respectively.

The Company also paid deferred cash dividends of $ 640 and $ 17,440 during the three and six months ended June 30, 2026, respectively.

During the three and six months ended June 30, 2025, the Company declared and paid dividends of $ 0.84 and $ 1.64 per share, respectively, totaling $ 32,420 and $ 63,636 , respectively, and accrued deferred cash dividends on RSUs totaling $ 3,909 and $ 7,672 , respectively.

The Company also paid deferred cash dividends of $ 219 and $ 15,455 during the three and six months ended June 30, 2025, respectively.

Treasury Stock – During the three months ended June 30, 2026, the Company purchased 30 Class A Shares from employees at an average cost per share of $ 319.61 , primarily for the net settlement of stock-based compensation awards, and 301 Class A Shares at an average cost per share of $ 341.83 pursuant to the Company's share repurchase program.

The aggregate 331 Class A Shares were purchased at an average cost per share of $ 339.79 and the result of these purchases was an increase in Treasury Stock of $ 112,391 (excluding $ 171 of excise tax levied on share repurchases, net of issuances) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

During the six months ended June 30, 2026, the Company purchased 934 Class A Shares from employees at an average cost per share of $ 343.89 , primarily for the net settlement of stock-based compensation awards, and 1,326 Class A Shares at an average cost per share of $ 311.03 pursuant to the Company's share repurchase program.

The aggregate 2,260 Class A Shares were purchased at an average cost per share of $ 324.60 and the result of these purchases was an increase in Treasury Stock of $ 733,740 (excluding $ 171 of excise tax levied on share repurchases, net of issuances) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

Evercore LP Units – During the three and six months ended June 30, 2026, 44 and 110 Evercore LP partnership units ("LP Units"), respectively, were exchanged for Class A Shares, resulting in an increase to Class A Common Stock of $ 1 for the six months ended June 30, 2026 and an increase to Additional Paid-In Capital of $ 4,988 and $ 11,843 for the three and six months ended June 30, 2026, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

See Note 13 for further information.

Accumulated Other Comprehensive Income (Loss) – As of March 31, 2026, Accumulated Other Comprehensive Income (Loss) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($ 44 ) and ($ 23,155 ), respectively.

Note 13 – Noncontrolling Interest

Noncontrolling Interest recorded in the unaudited condensed consolidated financial statements of the Company relates to the following approximate interests in certain consolidated subsidiaries, which are not owned by the Company:

Accumulated Other Comprehensive Income (Loss) – As of June 30, 2026, Accumulated Other Comprehensive Income (Loss) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($ 39 ) and ($ 22,369 ), respectively.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

As of March 31,

Note 13 – Noncontrolling Interest

As of June 30,

Evercore LP 6 % 6 %

3 unchanged sentences

See Note 14 for further information.

Changes in Noncontrolling Interest for the three months ended March 31, 2026 and 2025 were as follows:

For the Three Months Ended March 31,

Changes in Noncontrolling Interest for the three and six months ended June 30, 2026 and 2025 were as follows:

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Beginning balance $ 306,515 $ 245,095 $ 288,290 $ 234,166

7 unchanged sentences

Issuance of Noncontrolling Interest 450 1,100 450 1,617

Purchase of Noncontrolling Interest ( 442 ) ( 39 ) ( 442 ) ( 39 )

Total Other Items ( 9,061 ) ( 3,883 ) ( 20,694 ) ( 11,731 )

Ending balance $ 319,747 $ 263,415 $ 319,747 $ 263,415

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized losses on securities and investments, net, of ($ 12 ) and ($ 17 ) for the three months ended March 31, 2026 and 2025, respectively, and foreign currency translation adjustment gains (losses), net, of ($ 900 ) and $ 656 for the three months ended March 31, 2026 and 2025, respectively.

Evercore LP Units – During the three months ended March 31, 2026, 65 LP Units were exchanged for Class A Shares.

This resulted in a decrease to Noncontrolling Interest of $ 6,856 and increases to Class A Common Stock and Additional Paid-In Capital of $ 1 and $ 6,855 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

See Note 12 for further information.

EWM Class A Units – During the second quarter of 2025 and 2024, the Company granted 395 and 297 EWM Class A Units, respectively, which generally vest ratably over three years .

Compensation expense related to EWM Class A Units was $ 525 and $ 238 for the three months ended March 31, 2026 and 2025, respectively.

Interests Purchased – During the second quarter of 2025, the Company purchased, at fair value, an additional 0.1 % of EWM Class A Units for $ 1,259 .

The Company has also committed to purchase an additional 0.5 % of interests from individuals in equal tranches over the next three years , at fair value at the time of the purchase.

The Company recorded $ 770 and $ 1,319 in Payable to Employees and Related Parties and Other Long-term Liabilities, respectively, on the Unaudited Condensed

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized losses on securities and investments, net, of ($ 12 ) for the six months ended June 30, 2026, and ($ 17 ) for the six months ended June 30, 2025 and foreign currency translation adjustment gains (losses), net, of $ 67 and ($ 833 ) for the three and six months ended June 30, 2026, respectively, and $ 1,390 and $ 2,046 for the three and six months ended June 30, 2025, respectively.

Evercore LP Units – During the three and six months ended June 30, 2026, 44 and 110 LP Units, respectively, were exchanged for Class A Shares.

This resulted in a decrease to Noncontrolling Interest of $ 4,988 and $ 11,844 for the three and six months ended June 30, 2026, respectively, an increase to Class A Common Stock of $ 1 for the six months ended June 30, 2026,

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, reflecting the current fair value of amounts committed to be purchased in the future and accrued distributions related to those interests.

The Company incurred expense of $ 113 within Interest Expense on the Unaudited Condensed Consolidated Statement of Operations for the three months ended March 31, 2026 in conjunction with these arrangements.

and an increase to Additional Paid-In Capital of $ 4,988 and $ 11,843 for the three and six months ended June 30, 2026, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

See Note 12 for further information.

EWM Class A Units – During the second quarter of 2026, 2025 and 2024, the Company granted 406 , 395 and 297 EWM Class A Units, respectively, which generally vest ratably over three years .

Compensation expense related to EWM Class A Units was $ 1,071 and $ 1,596 for the three and six months ended June 30, 2026, respectively, and $ 836 and $ 1,074 for the three and six months ended June 30, 2025, respectively.

Interests Issued – During the second quarter of 2026, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $ 450 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

During the second quarter of 2025, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $ 1,100 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2025.

Interests Purchased – During the second quarter of 2026 and 2025, the Company purchased, at fair value, EWM Class A Units for $ 2,250 and $ 1,259 , respectively.

The Company has also committed to purchase interests from individuals in equal tranches over the next four years , at fair value at the time of the purchase.

As of June 30, 2026 and December 31, 2025, the Company recorded $ 2,222 and $ 770 , respectively, in Payable to Employees and Related Parties and $ 5,168 and $ 1,319 , respectively, in Other Long-term Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition, reflecting the current fair value of amounts committed to be purchased in the future.

These transactions resulted in a decrease to Noncontrolling Interest of $ 442 and $ 39 , respectively, and a decrease to Additional Paid-In Capital of $ 6,952 and $ 1,220 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026 and 2025.

The Company incurred expense of $ 202 and $ 315 within Interest Expense on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, respectively, in conjunction with these arrangements.

EWM Class P-I Units – In December 2025, the Company awarded 0.3 EWM Class P-I Units.

3 unchanged sentences

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

As of March 31, 2026, the Company determined that the achievement of performance conditions of these awards were not probable and therefore no expense was recognized for the three months ended March 31, 2026.

As of June 30, 2026, the Company determined that the achievement of performance conditions of these awards were not probable and therefore no expense was recognized for the three and six months ended June 30, 2026.

Note 14 – Net Income Per Share Attributable to Evercore Inc.

1 unchanged sentence

The calculations of basic and diluted net income per share attributable to Evercore Inc.

common shareholders for the three months ended March 31, 2026 and 2025 are described and presented below.

For the Three Months Ended March 31,

common shareholders for the three and six months ended June 30, 2026 and 2025 are described and presented below.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Basic Net Income Per Share Attributable to Evercore Inc.

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Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method (2)

1,839 1,666 2,045 2,070

Shares that are contingently issuable (3)

664 832 647 849

Diluted weighted average Class A Shares outstanding 41,134 41,213 41,491 41,636

2 unchanged sentences

(1) The Company has outstanding LP Units, which give the holders the right to receive Class A Shares upon exchange on a one -for-one basis.

During the three months ended March 31, 2026 and 2025, these LP Units were antidilutive and

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

During the three and six months ended June 30, 2026 and 2025, these LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

common shareholders.

The units that would have been included in the denominator of the computation of diluted net income per share attributable to Evercore Inc.

common shareholders if the effect would have been dilutive were 2,581 and 2,325 for the three months ended March 31, 2026 and 2025, respectively.

The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $ 21,703 and $ 9,556 for the three months ended March 31, 2026 and 2025, respectively.

common shareholders if the effect would have been dilutive were 2,564 and 2,572 for the three and six months ended June 30, 2026, respectively, and 2,321 and 2,323 for the three and six months ended June 30, 2025, respectively.

The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $ 7,014 and $ 28,717 for the three and six months ended June 30, 2026, respectively, and $ 6,480 and $ 16,036 for the three and six months ended June 30, 2025, respectively.

In computing this adjustment, the Company assumes that all LP Units are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Inc.

2 unchanged sentences

The Company does not anticipate that the LP Units will result in a dilutive computation in future periods.

(2) During the three months ended March 31, 2026 and 2025, certain shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method, were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

(2) During the three and six months ended June 30, 2025, certain shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method, were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

common shareholders.

The shares that would have been included in the treasury stock method calculation if the effect would have been dilutive were 12 and 1,163 for the three months ended March 31, 2026 and 2025, respectively.

The shares that would have been included in the treasury stock method calculation if the effect would have been dilutive were 1,184 and 1,144 for the three and six months ended June 30, 2025, respectively.

(3) The Company has outstanding Class K-P units of Evercore LP ("Class K-P Units") which are contingently exchangeable into Class K LP Units, and ultimately Class A Shares, as they are subject to certain performance thresholds being achieved.

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These Class K-P Units are segregated into four tranches of 50 Class K-P Units each.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

tranche converts into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through February 28, 2028.

The first three tranches each convert into 50 Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions and continued service through February 28, 2025, 2026 and 2027, respectively, while the final tranche converts into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through February 28, 2028.

In February 2025 and 2026, each of the first and second tranches of 50 Class K-P Units converted into 50 Class K LP Units upon the achievement of certain market and service conditions.

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These Class K-P Units convert into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through June 30, 2027.

These Class K-P Units may convert into 60 Class K LP Units contingent upon the achievement of certain market conditions and continued service, while additional units may be received upon conversion based on the level of defined benchmark results achieved.

These Class K-P Units may convert into 60 Class K LP Units contingent upon the achievement of certain

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

market conditions and continued service, while additional units may be received upon conversion based on the level of defined benchmark results achieved.

• In June 2024, the Company awarded 328 Class K-P Units.

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As these awards contain service, performance and, in certain issuances, market conditions, the expense for these awards is recognized over the service period of the award and reflects the fair value of the underlying units as determined at the award’s grant date, taking into account the probable outcome of the market condition being achieved, if applicable, as well as the probable outcome of the performance condition.

As of March 31, 2026, 668 unvested Class K-P Units were outstanding.

The Company determined the grant date fair value of these awards probable to vest as of March 31, 2026 to be $ 254,485 , related to 1,544 Class K LP Units which were probable of achievement, and recognizes expense for these units over the respective service periods.

Aggregate compensation expense related to the Class K-P Units was $ 15,615 and $ 12,489 for the three months ended March 31, 2026 and 2025, respectively.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

As of June 30, 2026, 668 unvested Class K-P Units were outstanding.

The Company determined the grant date fair value of these awards probable to vest as of June 30, 2026 to be $ 260,978 , related to 1,576 Class K LP Units which were probable of achievement, and recognizes expense for these units over the respective service periods.

Aggregate compensation expense related to the Class K-P Units was $ 14,920 and $ 30,535 for the three and six months ended June 30, 2026, respectively, and $ 19,011 and $ 31,500 for the three and six months ended June 30, 2025, respectively.

Class L Interests

In January 2024, 2025 and 2026, the Company's Board of Directors approved the issuance of Class L Interests of Evercore LP ("Class L Interests") to certain of the named executive officers of the Company, pursuant to which the named executive officers received a discretionary distribution of profits from Evercore LP, paid in the first quarters of 2025, 2026 and 2027, respectively.

In January 2024, 2025 and 2026, the Company's Board of Directors approved the issuance of Class L Interests of Evercore LP ("Class L Interests") to certain of the named executive officers of the Company, pursuant to which the named executive officers receive a discretionary distribution of profits from Evercore LP, paid in the first quarters of 2025, 2026 and 2027, respectively.

Distributions pursuant to these interests are made in lieu of any cash incentive compensation payments which may otherwise have been made to those named executive officers of the Company in respect of their service for 2024, 2025 and 2026, respectively.

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The Company records expense related to these Class L Interests as part of its accrual for incentive compensation within Employee Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Operations.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Stock Incentive Plan

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Stock Incentive Plan.

The Third Amended 2016 Plan, among other things, authorizes the grant of an additional 6,000 of the Company's Class A Shares and permits the Company to grant to certain employees, directors and consultants incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, RSUs and other awards based on the Company's Class A Shares.

The Company intends to use newly-issued Class A Shares to satisfy any awards under the Third Amended 2016 Plan and its predecessor plan.

Class A Shares underlying any award granted under the Third Amended 2016 Plan that expire, terminate or are canceled or satisfied for any reason without being settled in stock again become available for awards under the plan.

The total shares available to be granted in the future under the Third Amended 2016 Plan was 4,857 as of March 31, 2026.

During the second quarter of 2026, the Company's stockholders approved the Fourth Amended and Restated 2016 Evercore Inc.

Stock Incentive Plan (the "Fourth Amended 2016 Plan"), which amended the Third Amended 2016 Plan.

The Fourth Amended 2016 Plan, among other things, authorizes the grant of an additional 5,000 of the Company's Class A Shares and permits the Company to grant to certain employees, directors and consultants incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, RSUs and other awards based on the Company's Class A Shares.

The Company intends to use newly-issued Class A Shares to satisfy any awards under the Fourth Amended 2016 Plan and its predecessor plan.

Class A Shares underlying any award granted under the Fourth Amended 2016 Plan that expire, terminate or are canceled or satisfied for any reason without being settled in stock again become available for awards under the plan.

The total shares available to be granted in the future under the Fourth Amended 2016 Plan was 9,790 as of June 30, 2026.

The Company also grants, at its discretion, dividend equivalents, in the form of deferred cash dividends or unvested RSU awards, concurrently with the payment of dividends to the holders of Class A Shares, on all RSU grants.

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Equity Grants

During the three months ended March 31, 2026, pursuant to the Third Amended 2016 Plan, the Company granted employees 1,630 RSUs that are subject to service-based vesting requirements ("Service-based Awards").

Service-based Awards granted during the three months ended March 31, 2026 had grant date fair values of $ 290.92 to $ 356.99 per share, with an average value of $ 327.15 per share, for an aggregate fair value of $ 533,209 , and generally vest ratably over four years .

During the three months ended March 31, 2026, 1,946 Service-based Awards vested and 12 Service-based Awards were forfeited.

Compensation expense related to Service-based Awards was $ 103,837 and $ 80,064 for the three months ended March 31, 2026 and 2025, respectively.

During the six months ended June 30, 2026, pursuant to the above Stock Incentive Plans, the Company granted employees 1,693 RSUs that are subject to service-based vesting requirements ("Service-based Awards").

Service-based Awards granted during the six months ended June 30, 2026 had grant date fair values of $ 290.92 to $ 356.99 per share, with an average value of $ 326.57 per share, for an aggregate fair value of $ 553,033 , and generally vest ratably over four years .

During the six months ended June 30, 2026, 2,011 Service-based Awards vested and 35 Service-based Awards were forfeited.

Compensation expense related to Service-based Awards was $ 130,516 and $ 234,353 for the three and six months ended June 30, 2026, respectively, and $ 100,068 and $ 180,132 for the three and six months ended June 30, 2025, respectively.

In addition, in June 2024, the Company granted 30 RSUs which may convert into a maximum of 80 RSUs contingent and based upon the achievement of certain defined benchmark results and continued service through April 1, 2031.

The grant date fair value of these awards probable to vest as of March 31, 2026 was $ 11,577 , related to 60 RSUs which were probable of achievement, and compensation expense related to these units was $ 964 and $ 343 for the three months ended March 31, 2026 and 2025, respectively.

The grant date fair value of these awards probable to vest as of June 30, 2026 was $ 10,718 , related to 56 RSUs which were probable of achievement, and compensation expense related to these units was $ 248 and $ 1,212 for the three and six months ended June 30, 2026, respectively, and $ 609 and $ 952 for the three and six months ended June 30, 2025, respectively.

Acquisition-related Awards

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The Company amortizes the payment subject to forfeiture over the requisite four-year service period.

Compensation expense related to this award was $ 6,143 for the three months ended March 31, 2026.

As of March 31, 2026, the total remaining expense to be recognized pursuant to this arrangement over the future vesting period is $ 70,854 .

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Compensation expense related to this award was $ 6,113 and $ 12,256 for the three and six months ended June 30, 2026, respectively.

In conjunction with the acquisition of Robey Warshaw, the Company will also deliver consideration in the form of Class A Shares if certain defined benchmark results are exceeded over a five-year performance period, beginning January 1, 2026.

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The expense for this award will be recognized over the five-year performance period of the award and will reflect the fair value of the Class A Shares as determined at the award's grant date, as well as the probable outcome of the performance condition.

The Company determined that the performance conditions related to this award were not probable of achievement as of March 31, 2026.

The Company determined that the performance conditions related to this award were not probable of achievement as of June 30, 2026.

The Company also granted 46 Service-based Awards in 2025 to certain former employees of Robey Warshaw, who joined the Company, as retention awards.

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The Company will recognize expense for these awards ratably over the service period.

Compensation expense related to these awards was $ 816 for the three months ended March 31, 2026, included in the above compensation expense related to Service-based Awards.

Compensation expense related to these

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

awards was $ 825 and $ 1,641 for the three and six months ended June 30, 2026, respectively, included in the above compensation expense related to Service-based Awards.

Deferred Cash

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The Company granted $ 100,074 of deferred cash awards pursuant to the deferred cash compensation program during the first quarter of 2026.

Compensation expense related to the Company's deferred cash compensation program was $ 36,163 and $ 38,560 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the Company expects to pay an aggregate of $ 295,075 related to the Company's deferred cash compensation program at various dates through 2030 and total compensation expense not yet recognized related to these awards was $ 221,265 .

Compensation expense related to the Company's deferred cash compensation program was $ 42,073 and $ 78,236 for the three and six months ended June 30, 2026, respectively, and $ 38,332 and $ 76,892 for the three and six months ended June 30, 2025, respectively.

As of June 30, 2026, the Company expects to pay an aggregate of $ 318,482 related to the Company's deferred cash compensation program at various dates through 2030 and total compensation expense not yet recognized related to these awards was $ 201,919 .

The weighted-average period over which this compensation cost is expected to be recognized is 31 months.

3 unchanged sentences

The Company also periodically grants performance-based deferred cash awards to certain employees.

Compensation expense related to other deferred cash awards was $ 5,033 and $ 3,058 for the three months ended March 31, 2026 and 2025, respectively.

Compensation expense related to other deferred cash awards was $ 4,884 and $ 9,917 for the three and six months ended June 30, 2026, respectively, and $ 2,959 and $ 6,017 for the three and six months ended June 30, 2025, respectively.

Long-term Incentive Plan

The Company's Long-term Incentive Plans provide for incentive compensation awards for Investment Banking Senior Managing Directors, excluding executive officers of the Company, who exceed defined benchmark results over four-year performance periods beginning January 1, 2021 (the "2021 Long-term Incentive Plan", which ended on December 31, 2024) and January 1, 2025 (the "2025 Long-term Incentive Plan", which was approved by the Company's Board of Directors in April 2025).

In conjunction with the 2021 Long-term Incentive Plan, the Company distributed cash payments of $ 71,910 and $ 71,522 in the three months ended March 31, 2026 and 2025, respectively.

In conjunction with the 2021 Long-term Incentive Plan, the Company distributed cash payments of $ 71,910 and $ 71,522 in the six months ended June 30, 2026 and 2025, respectively.

Remaining amounts due pursuant to these plans are to be paid in cash or Class A Shares, at the Company's discretion, in the first quarter of 2027 (for the 2021 Long-term Incentive Plan), and in the first quarter of 2029, 2030 and 2031 (for the 2025 Long-term Incentive Plan), subject to employment at the time of payment.

As of March 31, 2026, the Company has accrued $ 123,948 pursuant to the above Long-term Incentive Plans, including $ 60,111 within Accrued Compensation and Benefits and $ 63,837 within Other Long-term Liabilities, on the Unaudited Condensed Consolidated Statement of Financial Condition.

As of June 30, 2026, the Company has accrued $ 148,644 pursuant to the above Long-term Incentive Plans, including $ 63,188 within Accrued Compensation and Benefits and $ 85,456 within Other Long-term Liabilities, on the Unaudited Condensed Consolidated Statement of Financial Condition.

The Company periodically assesses the probability of the benchmarks being achieved and expenses the probable payout over the requisite service period of the award.

The Company recorded compensation expense related to these plans of $ 32,277 and $ 10,478 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the total remaining expense to be recognized for the 2021 Long-term Incentive Plan over the future vesting period ending March 15, 2027 is $ 11,687 .

As of March 31, 2026, the total remaining expense to be recognized for the 2025 Long-term Incentive Plan over the future vesting period ending March 14, 2031, based on the current anticipated probable payout for the plan, is $ 272,342 .

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

The Company recorded compensation expense related to these plans of $ 24,696 and $ 56,973 for the three and six months ended June 30, 2026, respectively, and $ 16,377 and $ 26,855 for the three and six months ended June 30, 2025, respectively.

As of June 30, 2026, the total remaining expense to be recognized for the 2021 Long-term Incentive Plan over the future vesting period ending March 15, 2027 is $ 8,644 .

As of June 30, 2026, the total remaining expense to be recognized for the 2025 Long-term Incentive Plan over the future vesting period ending March 14, 2031, based on the current anticipated probable payout for the plan, is $ 266,337 .

Employee Loans Receivable

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 , and in certain circumstances are also subject to the achievement of performance requirements.

Generally, these awards, based on the terms, include a requirement of either full or partial repayment by the employee if the service or other requirements of the agreements with the Company are not achieved.

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 $ 11,281 and $ 8,952 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the total compensation cost not yet recognized related to these awards was $ 87,110 .

Compensation expense related to these awards was $ 16,417 and $ 27,698 for the three and six months ended June 30, 2026, respectively, and $ 12,589 and $ 21,541 for the three and six

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

months ended June 30, 2025, respectively.

As of June 30, 2026, the total compensation cost not yet recognized related to these awards was $ 76,992 .

Separation and Transition Benefits

The following table presents the change in the Company's liability related to separation benefits, stay arrangements and accelerated deferred cash compensation (together, "Termination Costs") for the three months ended March 31, 2026 and 2025:

For the Three Months Ended March 31,

For the Six Months Ended June 30,

Beginning Balance $ 961 $ 1,181

3 unchanged sentences

Ending Balance $ 2,297 $ 1,237

In addition to the above Termination Costs incurred, for the three months ended March 31, 2026 and 2025, the Company also incurred expenses related to the acceleration of the amortization of share-based payments previously granted to affected employees of $ 1,363 and $ 3,195 , respectively (related to 7 and 31 RSUs, respectively) recorded in Employee Compensation and Benefits, principally within the Investment Banking & Equities segment, on the Company's Unaudited Condensed Consolidated Statements of Operations.

In addition to the above Termination Costs incurred, the Company also incurred expenses related to the acceleration of the amortization of share-based payments previously granted to affected employees of $ 1,184 and $ 2,547 for the three and six months ended June 30, 2026, respectively, (related to 13 RSUs) and $ 2,749 and $ 5,944 for the three and six months ended June 30, 2025, respectively, (related to 51 RSUs) recorded in Employee Compensation and Benefits, principally within the Investment Banking & Equities segment, on the Company's Unaudited Condensed Consolidated Statements of Operations.

Note 16 – Commitments and Contingencies

For a further discussion of the Company's commitments, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Private Equity – As of March 31, 2026, the Company had unfunded commitments for capital contributions of $ 2,486 to private equity funds.

Private Equity – As of June 30, 2026, the Company had unfunded commitments for capital contributions of $ 2,486 to private equity funds.

These commitments will be funded as required through the end of each private equity fund's investment period, subject to certain conditions.

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In addition, the agreement contains certain reporting covenants, as well as certain debt covenants, that prohibit East and the Company from incurring other indebtedness, subject to specified exceptions.

The Company and its consolidated subsidiaries were in compliance with these covenants as of March 31, 2026.

The Company and its consolidated subsidiaries were in compliance with these covenants as of June 30, 2026.

Drawings for this facility bear interest at Daily SOFR plus 130 basis points and the maturity date was extended to July 10, 2028.

There were no drawings under this facility at March 31, 2026.

There were no drawings under this facility at June 30, 2026.

EGL maintains a subordinated revolving credit facility with PNC, as amended on October 10, 2025, in an aggregate principal amount of up to $ 75,000 , to be used as needed in support of capital requirements from time to time of EGL.

1 unchanged sentence

The interest rate provisions are Daily SOFR plus 130 basis points and the maturity date is October 10, 2029.

There were no drawings under this facility at March 31, 2026.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

There were no drawings under this facility at June 30, 2026.

In addition, EGL's clearing broker provides temporary funding for the settlement of securities transactions.

2 unchanged sentences

Restricted Cash – The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Unaudited Condensed Consolidated Statements of Financial Condition that sum to the total of amounts shown in the Unaudited Condensed Consolidated Statements of Cash Flows:

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Cash and Cash Equivalents $ 1,256,599 $ 617,298

6 unchanged sentences

The Company maintains stop-loss insurance for its medical plan to provide coverage for claims over a defined financial threshold.

The estimated present value of incurred but not reported or paid claims is $ 5,380 and $ 4,821 as of March 31, 2026 and December 31, 2025, respectively, which is included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Financial Condition.

The estimated present value of incurred but not reported or paid claims is $ 5,380 and $ 4,821 as of June 30, 2026 and December 31, 2025, respectively, which is included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Financial Condition.

Contingencies

8 unchanged sentences

These laws, regulations and treaties are complex, and the manner in which they apply to the Company’s facts and circumstances is open to evolving interpretation.

Although management believes it has applied these laws, regulations and treaties in a compliant manner, a recent interpretation reached by a judicial authority has challenged the employment tax treatment of members of a partnership which is not affiliated with the Company.

While that challenge remains subject to a judicial review process, and the Company and its subsidiaries are not a party to the proceedings, the ultimate outcome may adversely impact the Company’s tax position.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Although management believes it has applied these laws, regulations and treaties in a compliant manner, evolving interpretations could adversely impact the Company's tax position.

A recent decision by a non-U.S.

judicial authority found that certain members of a partnership are considered employees for the purpose of certain employment taxes.

The Company and its subsidiaries were not a party to the proceedings.

However, the Company has considered the conclusions and guidance provided by the court's judgment and has determined that it is appropriate to establish a loss provision of $ 21,315 , which has been included within Special Charges, Including Business Realignment Costs, on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, bringing the Company's estimated liability for employment taxes related to prior years to $ 24,876 , included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026.

The Company will continue to review its tax position relating to this matter and will adjust this estimate as appropriate in future periods.

Note 17 – Regulatory Authorities

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Under the Alternative Net Capital Requirement, EGL's minimum net capital requirement is $ 250 .

EGL's regulatory net capital as of March 31, 2026 and December 31, 2025 was $ 525,169 and $ 373,081 , respectively, which exceeded the minimum net capital requirement by $ 524,919 and $ 372,831 , respectively.

EGL's regulatory net capital as of June 30, 2026 and December 31, 2025 was $ 796,064 and $ 373,081 , respectively, which exceeded the minimum net capital requirement by $ 795,814 and $ 372,831 , respectively.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Evercore Trust Company, N.A.

1 unchanged sentence

The Company, Evercore LP and ETC are subject to written agreements with the OCC that, among other things, require the Company and Evercore LP to maintain at least $ 5,000 in Tier 1 capital in ETC (or such other amount as the OCC may require) and maintain liquid assets in ETC in an amount at least equal to the greater of $ 3,500 or 180 days coverage of ETC's operating expenses.

The Company was in compliance with the aforementioned agreements as of March 31, 2026.

The Company was in compliance with the aforementioned agreements as of June 30, 2026.

Evercore U.K., our U.K.

1 unchanged sentence

The regulatory capital requirement of Evercore U.K.

as of March 31, 2026 and December 31, 2025 was $ 290,884 and $ 296,406 , respectively.

as of June 30, 2026 and December 31, 2025 was $ 291,720 and $ 296,406 , respectively.

The Company's regulatory capital was in excess of these requirements.

1 unchanged sentence

subsidiaries are subject to various securities and banking regulations and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate.

These subsidiaries are in excess of their local capital adequacy requirements at March 31, 2026.

These subsidiaries are in excess of their local capital adequacy requirements at June 30, 2026.

Note 18 – Income Taxes

The Company's Provision (Benefit) for Income Taxes was $ 9,056 and ($ 41,727 ) for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate was 2.7 % and ( 37.2 %) for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate reflects the recognition of net excess tax benefits associated with appreciation in the Company's share price upon vesting of employee share-based awards above the original grant price of $ 88,528 and $ 74,311 for the three months ended March 31, 2026 and 2025, respectively, which resulted in a reduction in the effective tax rate of 26.7 and 66.3 percentage points for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate for the three months ended March 31, 2026 and 2025 also reflects the effect of certain nondeductible expenses, including expenses related to Class K-P Units, as well as the noncontrolling interest associated with LP Units and other adjustments.

The Company's Provision for Income Taxes was $ 41,094 and $ 50,150 for the three and six months ended June 30, 2026, respectively, and $ 44,265 and $ 2,538 for the three and six months ended June 30, 2025, respectively.

The effective tax rate was 27.8 % and 10.5 % for the three and six months ended June 30, 2026, respectively, and 29.3 % and 1.0 % for the three and six months ended June 30, 2025, respectively.

The effective tax rate reflects the recognition of net excess tax benefits associated with appreciation in the Company's share price upon vesting of employee share-based awards above the original grant price of $ 91,422 and $ 74,954 for the six months ended June 30, 2026 and 2025, respectively, which resulted in a reduction in the effective tax rate of 19.1 and 28.5 percentage points for the six months ended June 30, 2026 and 2025, respectively.

The effective tax rate for 2026 and 2025 also reflects the effect of certain nondeductible expenses, including expenses related to Class K-P Units, as well as the noncontrolling interest associated with LP Units and other adjustments.

In October 2021, members of the Organization for Economic Co-operation and Development ("OECD") agreed on a two-pillar tax framework to realign international taxation with economic activities, including a coordinated set of rules designed to ensure large multinational enterprises pay a minimum 15% tax rate across all jurisdictions, known as Pillar Two.

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Additionally, the Company is subject to the income tax effects associated with the global intangible low-taxed income ("GILTI") provisions in the period incurred.

For the three months ended March 31, 2026 and 2025, no additional income tax expense associated with the GILTI provisions has been recognized and it is not expected to be material to the Company's effective tax rate for the year.

For the three and six months ended June 30, 2026 and 2025, no additional income tax expense associated with the GILTI provisions has been recognized and it is not expected to be material to the Company's effective tax rate for the year.

On July 4, 2025, the United States enacted House Resolution 1 of the 119th Congress ("the Act").

The Act makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and beginning after December 31, 2025, updates for Net CFC Tested Income (formerly GILTI), which is not expected to materially impact the Company’s effective tax rate for the year.

The Company recorded an increase in deferred tax assets of $ 47 associated with changes in Unrealized Gain (Loss) on Securities and Investments and an increase of $ 3,528 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the three months ended March 31, 2026.

The Company recorded an increase in deferred tax assets of $ 73 associated with changes in Unrealized Gain (Loss) on Securities and

The Company recorded an increase in deferred tax assets of $ 45 associated with changes in Unrealized Gain (Loss) on Securities and Investments and an increase of $ 3,284 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the six months ended June 30, 2026.

The Company recorded an increase in deferred tax assets of $ 71 associated with changes in Unrealized Gain (Loss) on Securities and Investments and a decrease of $ 9,106 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the six months ended June 30, 2025.

The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations.

As of June 30, 2026, there were $ 481 of unrecognized tax benefits that, if recognized, $ 387 would affect the effective tax rate.

Related to the unrecognized tax benefits, the Company accrued interest and penalties of $ 179 and $ 48 , respectively, during the three months ended June 30, 2026.

In addition, during

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Investments and a decrease of $ 2,784 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the three months ended March 31, 2025.

The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations.

As of March 31, 2026, there were $ 126 of unrecognized tax benefits that, if recognized, $ 103 would affect the effective tax rate.

Related to the unrecognized tax benefits, the Company accrued interest of $ 2 during the three months ended March 31, 2026.

the quarter, the Company reached an audit settlement with the Tax Authorities and $ 126 of unrecognized tax benefits were recognized by the Company, of which $ 103 affected the effective tax rate.

The Company also recognized a tax benefit for the accrued interest and penalties of $ 32 and $ 31 , respectively, during the three months ended June 30, 2026, associated with the settlement.

Note 19 – Segment Operating Results

11 unchanged sentences

• Interest income, including accretion, and income (losses) on investment securities, including the Company's investment funds (which are used as an economic hedge against the Company's deferred cash compensation program), certificates of deposit, cash and cash equivalents and long-term accounts receivable

• Gains (losses) resulting from foreign currency exchange rate fluctuations and foreign currency exchange forward contracts used as an economic hedge against exchange rate risk for foreign currency denominated accounts receivable or other commitments

• Gains (losses) resulting from foreign currency exchange rate fluctuations

• Realized and unrealized gains and losses on interests in private equity funds which are not managed by the Company

4 unchanged sentences

Such corporate services include, but are not limited to, accounting, tax, legal, technology, human capital, facilities management and senior management activities.

Additionally, the Company's segment expenses for the three and six months ended June 30, 2026 also include Special Charges, Including Business Realignment Costs, related to an estimated loss provision for non-U.S.

employment taxes for prior periods.

See Note 16 for further information.

The Company evaluates segment results based on net revenues and pre-tax income.

The Company's resources are allocated and performance is assessed by the Company's CEO and Chairman, whom the Company has determined to be the

The Company's resources are allocated and performance is assessed by the Company's CEO and Chairman, whom the Company has determined to be the Chief Operating Decision Maker ("CODM").

For both segments, the CODM reviews net revenues and pre-tax income against

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

Chief Operating Decision Maker ("CODM").

For both segments, the CODM reviews net revenues and pre-tax income against current and past performance on a quarterly basis when making decisions about allocating resources to the segments, inclusive of decisions regarding new hires, expansion into new geographical locations and entering into material contracts, including lease agreements and significant investments in technology.

current and past performance on a quarterly basis when making decisions about allocating resources to the segments, inclusive of decisions regarding new hires, expansion into new geographical locations and entering into material contracts, including lease agreements and significant investments in technology.

The CODM also uses these measures in determining appropriate levels of employee compensation.

No client accounted for more than 10% of the Company's Consolidated Net Revenues for the three months ended March 31, 2026 and 2025.

No client accounted for more than 10% of the Company's Consolidated Net Revenues for the three and six months ended June 30, 2026 and 2025, respectively.

The following information presents each segment's contribution.

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Investment Banking & Equities

4 unchanged sentences

175,789 130,773 328,445 250,547

Special Charges, Including Business Realignment Costs 21,315 — 21,315 —

Operating Income 142,474 145,951 469,414 252,680

7 unchanged sentences

Non-Compensation (2)

4,728 4,057 8,854 8,103

Operating Income 4,102 4,438 7,888 8,893

7 unchanged sentences

180,517 134,830 337,299 258,650

Special Charges, Including Business Realignment Costs 21,315 — 21,315 —

Operating Income 146,576 150,389 477,302 261,573

3 unchanged sentences

(1) Net Revenues include Other Revenue, net, allocated to the segments as follows:

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Investment Banking & Equities (A)

1 unchanged sentence

Investment Management (B)

( 333 ) 975 ( 148 ) 289

Total Other Revenue, net $ 30,348 $ 24,924 $ 36,818 $ 32,056

(A) Other Revenue, net, from the Investment Banking & Equities segment includes interest expense on the Notes Payable, lines of credit and other financing arrangements, including interest expense related to deferred acquisition consideration of $ 8,778 and $ 4,193 for the three months ended March 31, 2026 and 2025, respectively.

(B) Other Revenue, net, from the Investment Management segment includes interest expense on mandatorily redeemable interests of $ 113 for the three months ended March 31, 2026.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

(A) Other Revenue, net, from the Investment Banking & Equities segment includes interest expense on the Notes Payable, lines of credit and other financing arrangements, including interest expense related to deferred acquisition consideration of $ 8,096 and $ 16,874 for the three and six months ended June 30, 2026, respectively, and $ 4,210 and $ 8,403 for the three and six months ended June 30, 2025, respectively.

(B) Other Revenue, net, from the Investment Management segment includes interest expense on mandatorily redeemable interests of $ 202 and $ 315 for the three and six months ended June 30, 2026, respectively.

(2) Non-Compensation expenses are as follows:

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Investment Banking & Equities

Occupancy and Equipment Rental $ 29,084 $ 26,261 $ 55,522 $ 51,364

Professional Fees (A)

27,539 21,144

Professional Fees 32,198 22,059 59,737 43,203

Travel and Related Expenses 34,903 23,729 62,510 45,540

Technology and Information Services (A)

38,959 32,252

Technology and Information Services 42,277 35,411 81,236 67,663

Depreciation and Amortization 12,413 6,342 24,699 12,235

5 unchanged sentences

Occupancy and Equipment Rental $ 642 $ 653 $ 1,269 $ 1,281

Professional Fees (B)

Professional Fees 846 1,074 1,662 2,320

Travel and Related Expenses 428 255 692 462

Technology and Information Services (B)

Technology and Information Services 1,684 1,176 3,143 2,291

Depreciation and Amortization 164 108 316 191

3 unchanged sentences

Occupancy and Equipment Rental $ 29,726 $ 26,914 $ 56,791 $ 52,645

Professional Fees (C)

28,355 22,390

Professional Fees 33,044 23,133 61,399 45,523

Travel and Related Expenses 35,331 23,984 63,202 46,002

Technology and Information Services (C)

40,418 33,367

Technology and Information Services 43,961 36,587 84,379 69,954

Depreciation and Amortization 12,577 6,450 25,015 12,426

3 unchanged sentences

Total Non-Compensation $ 180,517 $ 134,830 $ 337,299 $ 258,650

(A) The Company reclassified $ 9,950 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Banking & Equities segment for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

(B) The Company reclassified $ 273 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Management segment for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

(C) The Company reclassified $ 10,223 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

Geographic Information – The Company manages its business based on the profitability of the enterprise as a whole.

The Company's revenues were derived from clients located and managed in the following geographical areas:

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

Geographic Information – The Company manages its business based on the profitability of the enterprise as a whole.

The Company's revenues were derived from clients located and managed in the following geographical areas:

For the Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Net Revenues:

4 unchanged sentences

(1) Excludes Other Revenue, Including Interest and Investments, and Interest Expense.

(2) Primarily includes revenue attributable to the United States of $ 1,057,974 and $ 559,801 for the three months ended March 31, 2026 and 2025, respectively.

(2) Primarily includes revenue attributable to the United States of $ 768,281 and $ 1,826,255 for the three and six months ended June 30, 2026, respectively, and $ 617,681 and $ 1,177,482 for the three and six months ended June 30, 2025, respectively.

The Company's total assets are located in the following geographical areas:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Total Assets:

5 unchanged sentences

(2) Primarily includes assets located in the United Kingdom.

T a b l e o f C o n t e n t s

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements