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Compensation (Tables)
 6 Months Ended
Jun. 30, 2023
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,
2023202220232022
Issuance of common stock and grants of exchangeability$101,938 $20,460 $153,904 $50,595 
Allocations of net income¹637 4,734 3,017 8,424 
LPU amortization19,447 15,601 40,878 34,624 
RSU amortization4,622 5,338 10,218 10,366 
Equity-based compensation and allocations of net income
to limited partnership units and FPUs
$126,644 $46,133 $208,017 $104,009 
____________________________
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,
2023202220232022
Issuance of common stock and grants of exchangeability$101,938 $20,460 $153,904 $50,595 
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,
2023202220232022
Stated vesting schedule$19,440 $15,609 $40,848 $34,578 
Post-termination payout7 (8)30 46 
LPU amortization$19,447 $15,601 $40,878 $34,624 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
RSU amortization$4,622 $5,338 $10,218 $10,366 
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
LPUs
Balance at December 31, 2022110,347 9,351 
Granted9,690 — 
Redeemed/exchanged units(48,218)(348)
Forfeited units(225)— 
Balance at June 30, 202371,594 9,003 
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 Units49,240 6,897 
Preferred Units22,354 2,106 
Balance at June 30, 202371,594 9,003 
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,
2023202220232022
BGC Holdings LPUs14,710 4,879 25,684 10,666 
Newmark Holdings LPUs100 83 179 347 
Total14,810 4,962 25,863 11,013 
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, 2023December 31, 2022
BGC Holdings LPUs45,112 47,222 
Newmark Holdings LPUs63 98 
Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs$190,273 $194,951 
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, 202212,046 $4.11 $49,486 2.42
Granted27,307 3.49 95,340 
Delivered(4,302)3.78 (16,267)
Forfeited(284)4.15 (1,178)
Balance at June 30, 202334,767 $3.66 $127,381 5.49