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Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

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

	Three Months Ended March 31,
	2021		2020
Issuance of common stock and grants of exchangeability	$	7,854	$	23,034
Allocations of net income¹		5,631		1,279
LPU amortization		17,094		16,309
RSU amortization		2,916		1,582
Equity-based compensation and allocations of net income to limited partnership units and FPUs	$	33,495	$	42,204

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):

	Three Months Ended March 31,
	2021		2020
Issuance of common stock and grants of exchangeability	$	7,854	$	23,034

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

	Three Months Ended March 31,
	2021		2020
Stated vesting schedule	$	17,074	$	16,277
Post-termination payout		20		32
LPU amortization	$	17,094	$	16,309

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

	Three Months Ended March 31,
	2021		2020
RSU amortization	$	2,916	$	1,582

Activity Associated with Limited Partnership Units Held by BGC Employees

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, 2020		137,652			13,202
Granted		13,290			—
Redeemed/exchanged units		(16,495	)		(657	)
Forfeited units		(642	)		(228	)
Balance at March 31, 2021		133,805			12,317

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		91,507		9,112
Preferred Units		42,298		3,205
Balance at March 31, 2021		133,805		12,317

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):

	Three Months Ended March 31,
	2021		2020
BGC Holdings LPUs		1,097		4,001
Newmark Holdings LPUs		180		192
Total		1,277		4,193

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):

	March 31, 2021		December 31, 2020
BGC Holdings LPUs		42,607		44,529
Newmark Holdings LPUs		326		353

Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs	$	177,489	$	201,239

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, 2020		8,960		$	3.75	$	33,582			2.46
Granted		508			3.22		1,632
Delivered		(2,088	)		4.40		(9,179	)
Forfeited		(158	)		3.97		(627	)
Balance at March 31, 2021		7,222		$	3.52	$	25,408			2.40