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Subsequent Events | 9 Months Ended
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Sep. 30, 2021
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Appointment of Board Member On October 5, 2021, the Company's Board appointed Arthur U. Mbanefo to serve as a member of the Board for a term to expire at the 2021 Annual Meeting of Stockholders of the Company, or until his successor is duly elected and qualified. Mr. Mbanefo was also appointed to the Audit, Compensation, and Environmental, Social and Governance Committees of the Board. Long Term Incentive Plan On October 7, 2021, the Company's Compensation Committee recommended and the Board adopted, subject to stockholder approval at the Annual Meeting of Stockholders to be held on November 22, 2021, amendments to the Equity Plan to increase by 100 million to a total of 500 million shares, the aggregate number of shares of the Company's Class A common stock that may be delivered or cash settled pursuant to awards granted during the life of the Equity Plan, subject to adjustment, and to remove the annual per-participant limit of 15 million awards that may be granted under the Equity Plan. Sale of Insurance Brokerage On November 1, 2021, the Company successfully completed the Insurance Business Disposition and, after closing adjustments, received $534.9 million in gross cash proceeds from the Buyer, subject to limited post-closing adjustments. CF&Co served as advisor to the Company and, upon closing of the transaction, a fee of $4.4 million was payable to Cantor in connection with the transaction. Repayment of Revolving Credit Agreement On November 1, 2021, the Company repaid in full the $300.0 million of outstanding borrowings under its Revolving Credit Agreement. Third Quarter 2021 Dividend On November 2, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.01 per share for the third quarter of 2021, payable on December 7, 2021 to BGC Class A and Class B common stockholders of record as of November 23, 2021. BGC Class A Common Stock Repurchases From October 1, 2021 through November 5, 2021, the Company repurchased 13.9 million shares of BGC Class A common stock at an aggregate price of $71.8 million for a weighted-average price of $5.15 per share.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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