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Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Compensation Expense

The Company incurred compensation expense related to Class A common stock, LPUs and RSUs held by BGC employees as follows (in thousands):

		Year Ended December 31,
		2020				2019				2018
Issuance of common stock and grants of exchangeability		$	84,966			$	100,948			$	150,147
Allocations of net income1			14,006				20,491				38,352
LPU amortization			74,282				41,721				6,346
RSU amortization			10,291				7,465				5,212
Equity-based compensation and allocations of net income to limited    partnership units and FPUs		$	183,545			$	170,625			$	200,057

1 Certain LPUs generally receive quarterly allocations of net income, including the Preferred Distribution, and are generally contingent upon services being provided by the unit holders.

Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):

		Year Ended December 31,
		2020				2019				2018
Issuance of common stock and grants of exchangeability		$	84,966			$	100,948			$	150,147

Compensation expense related to the amortization of LPUs held by BGC employees is as follows (in thousands):

		Year Ended December 31,
		2020				2019				2018
Stated vesting schedule		$	73,034			$	42,060			$	2,462
Post-termination payout			1,248				(339	)			3,884
LPU amortization		$	74,282			$	41,721			$	6,346

Compensation expense related to RSUs held by BGC employees is as follows (in thousands):

		Year Ended December 31,
		2020				2019				2018
RSU amortization		$	10,291			$	7,465			$	5,212

Activity Associated with Limited Partnership Units Held by BGC Employees

Limited Partnership Units

A summary of the activity associated with LPUs held by BGC employees is as follows (in thousands):

		BGC LPUs				Newmark LPUs2
Balance at December 31, 2017			58,323				26,510
Granted			36,821				2,694
Redeemed/exchanged units			(14,908	)			(7,032	)
Forfeited units			(507	)			(59	)
Balance at December 31, 2018			79,729				22,113
Granted			47,916				662
Redeemed/exchanged units			(21,110	)			(1,024	)
Forfeited units			(4,128	)			(7,144	)
Balance at December 31, 2019			102,407				14,607
Granted			50,269				—
Redeemed/exchanged units			(14,642	)			(1,300	)
Forfeited units			(382	)			(105	)
Balance at December 31, 2020			137,652				13,202

2 The Newmark LPUs were issued as part of the Separation.

Summary of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees

A summary of the BGC Holdings and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):

		BGC LPUs				Newmark LPUs
Regular Units			92,296				9,480
Preferred Units			45,356				3,722
Balance at December 31, 2020			137,652				13,202

Activity Associated with Limited Partnership Units Awarded to BGC Employees

A summary of the LPUs redeemed in connection with the issuance of BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) or granted exchangeability for BGC Class A common stock or Newmark Class A common stock (at the then-current Exchange Ratio) held by BGC employees is as follows (in thousands):

		Year Ended December 31,
		2020				2019				2018
BGC Holdings LPUs			16,618				17,209				18,227
Newmark Holdings LPUs			1,164				500				3,116
Total			17,782				17,709				21,343

Summary of Outstanding LPUs Held by BGC Employees with Stated Vesting

A summary of the outstanding LPUs held by BGC employees with a stated vesting schedule that do not receive quarterly allocations of net income is as follows (in thousands):

		December 31, 2020				December 31, 2019
BGC Holdings LPUs			44,529				30,699
Newmark Holdings LPUs			353				1,171
Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs		$	201,239			$	138,324

Activity Associated with Restricted Stock Units

A summary of the activity associated with RSUs held by BGC employees and directors is as follows (RSUs and dollars in thousands):

		RSUs				Weighted- Average Grant Date Fair Value				Fair Value Amount				Weighted- Average Remaining Contractual Term (Years)
Balance at December 31, 2017			1,063			$	9.08			$	9,651				1.63
Granted			578				12.05				6,964
Delivered			(553	)			8.59				(4,753	)
Forfeited			(159	)			11.34				(1,804	)
Balance at December 31, 2018			929			$	10.83			$	10,058				1.75
Granted			4,283				4.61				19,764
Delivered			(464	)			10.11				(4,692	)
Forfeited			(270	)			5.99				(1,614	)
Balance at December 31, 2019			4,478			$	5.25			$	23,516				2.50
Granted			6,618				3.25				21,506
Delivered			(1,579	)			5.79				(9,148	)
Forfeited			(557	)			4.11				(2,292	)
Balance at December 31, 2020			8,960			$	3.75			$	33,582				2.46

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