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Stock Transactions and Unit Redemptions
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Stock Transactions and Unit Redemptions (STOCK REPURCHASES) Stock Transactions and Unit Redemptions
As of March 31, 2021, Newmark has two classes of authorized common stock: Class A common stock and Class B common stock.

Class A Common Stock
Each share of Class A common stock is entitled to one vote. Newmark has 1.0 billion authorized shares of Class A common stock at $0.01 par value per share.

Changes in shares of Newmark’s Class A common stock outstanding were as follows:
 Three Months Ended March 31,
 20212020
Shares outstanding at beginning of period161,175,894 156,265,461 
Share issuances:
LPU redemption/exchange (1)
1,851,802 181,872 
Issuance of Class A common stock for Newmark RSUs965,469 254,413 
Other— — 
Treasury stock repurchases(879,243)— 
Shares outstanding at end of period163,113,922 156,701,746 
(1)Because they were included in the Newmark’s fully diluted share count, if dilutive, any exchange of LPUs into Class A common stock would not impact the fully diluted number of shares and units outstanding. 

Class B Common Stock
Each share of Class B common stock is entitled to 10 votes and is convertible at any time into one share of Class A common stock.

As of March 31, 2021 and December 31, 2020, there were 21.3 million shares of Newmark Class B common stock outstanding.
Share Repurchases
On February 17, 2021, our Board increased its authorized share repurchases of Newmark Class A Common stock and purchases of limited partnership interests in Newmark's subsidiaries to $400.0 million. This authorization includes repurchases of shares or purchase of units from executive officers, other employees and partners, including of BGC and Cantor, as well as other affiliated persons or entities. From time to time, Newmark may actively continue to repurchase shares and/or purchase units. During the three months ended March 31, 2021, Newmark repurchased 879,243 shares of Class A common stock at an average price of $10.57. As of March 31, 2021, Newmark had $390.4 million remaining from its share repurchase and unit purchase authorization.

The following table details Newmark's unit redemptions and share repurchases for cash, under the new program, and does not include unit redemptions and/or cancellations in connection with the grant of shares Newmark's Class A common stock. The gross unit redemptions and share repurchases of Newmark's Class A common stock during the three months ended March 31, 2021 were as follows (in thousands except share and per share amounts):
Total
Number of
Shares
Repurchased/Purchased		Average
Price Paid
per Unit
or Share		Approximate
Dollar Value
of Units and
Shares That
May Yet Be
Repurchased/
Purchased
Under the 
Program
Redemptions
January 2021— $— 
February 2021— $— 
March 202128,962 $11.09 
Repurchases
January 2021— $— 
February 2021— $— 
March 2021879,243 $10.57 
Total908,205 $10.59 $390,386 

Redeemable Partnership Interests
The changes in the carrying amount of FPUs follow (in thousands):
 March 31, 2021December 31, 2020
Balance at beginning of period:$20,045 $21,517 
Income allocation525 1,740 
Distributions of income— (1,740)
Redemptions(255)(1,472)
Issuance and other(124)— 
Balance at end of period$20,191 $20,045