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Compensation (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [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):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Issuance of common stock and grants of exchangeability$31,222 $2,362 $39,076 $25,396 
Allocations of net income¹6,846 2,660 12,477 3,939 
LPU amortization16,741 19,524 33,835 35,833 
RSU amortization3,481 3,273 6,397 4,855 
Equity-based compensation and allocations of net income
   to limited partnership units and FPUs		$58,290 $27,819 $91,785 $70,023 
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1Certain 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 June 30,Six Months Ended June 30,
2021202020212020
Issuance of common stock and grants of exchangeability$31,222 $2,362 $39,076 $25,396 
Compensation expense related to the amortization of LPUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Stated vesting schedule$16,701 $18,459 $33,775 $34,736 
Post-termination payout39 1,065 59 1,097 
LPU amortization$16,740 $19,524 $33,834 $35,833 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
RSU amortization$3,481 $3,273 $6,397 $4,855 
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, 2020137,652 13,202 
Granted19,292 — 
Redeemed/exchanged units(37,612)(1,454)
Forfeited units(642)(229)
Balance at June 30, 2021118,690 11,519 
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 Units82,508 8,659 
Preferred Units36,182 2,860 
Balance at June 30, 2021118,690 11,519 
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 June 30,Six Months Ended June 30,
2021202020212020
BGC Holdings LPUs5,568 471 6,666 4,473 
Newmark Holdings LPUs246 100 425 291 
Total5,814 571 7,091 4,764 
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):
June 30, 2021December 31, 2020
BGC Holdings LPUs41,150 44,529 
Newmark Holdings LPUs279 353 
Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs$163,016 $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):
RSUsWeighted-
Average
Grant
Date Fair
Value		Fair Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)
Balance at December 31, 20208,960 $3.75 $33,582 2.46
Granted4,658 4.30 20,044 
Delivered(2,572)4.04 (10,385)
Forfeited(245)3.84 (940)
Balance at June 30, 202110,801 $3.92 $42,301 2.65