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Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Compensation Expense
The Company incurred compensation expense related to Class A common stock, LPUs (prior to the Corporate Conversion) and RSUs held by BGC employees as follows (in thousands):
Three Months Ended March 31,
20242023
Issuance of common stock and grants of exchangeability$33,832 $51,966 
Allocations of net income and dividend equivalents¹1,294 2,380 
LPU amortization— 21,431 
RSU, RSU Tax Account, and restricted stock amortization60,955 5,596 
Equity-based compensation and allocations of net income
to limited partnership units and FPUs
$96,081 $81,373 
____________________________
1Prior to the Corporate Conversion, certain LPUs generally received quarterly allocations of net income, including the Preferred Distribution, and were generally contingent upon services being provided by the unit holders. Subsequent to the Corporate Conversion, this includes dividend equivalents on participating securities, the Preferred Return on certain RSU Tax Accounts, and quarterly allocations of net income, including the Preferred distribution to LPUs held by BGC employees in Newmark Holdings.
Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended March 31,
20242023
Issuance of common stock and grants of exchangeability$33,832 $51,966 
Compensation expense related to the amortization of BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended March 31,
20242023
Stated vesting schedule$— $21,407 
Post-termination payout— 24 
LPU amortization$— $21,431 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended March 31,
20242023
RSU amortization
$19,467 $5,596 
Activity Associated with Limited Partnership Units Held by BGC Employees
A summary of the activity associated with Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Newmark
LPUs
Balance at December 31, 20238,779 
Granted— 
Redeemed/exchanged units(117)
Forfeited units(7)
Balance at March 31, 20248,655 
Summary of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees
A summary of the Newmark Holdings LPUs held by BGC employees as of March 31, 2024, is as follows (in thousands):
Newmark
LPUs
Regular Units6,666 
Preferred Units1,989 
Balance at March 31, 20248,655 
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,
20242023
BGC Holdings LPUs— 10,975 
Newmark Holdings LPUs61 78 
Total61 11,053 
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, 202364,942 $4.11 $267,015 5.96
Granted4,231 5.79 24,514 
Delivered(5,166)3.99 (20,618)
Forfeited(719)4.75 (3,419)
Balance at March 31, 202463,288 $4.23 $267,492 5.68
Restricted Stock
Weighted-
Average
Grant
Date Fair
Value		Fair Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)
Balance at December 31, 202327,953 $4.20 $117,468 2.55
Granted— — — 
Delivered(6,256)4.87 (30,485)
Forfeited(225)4.43 (997)
Balance at March 31, 202421,472 $4.00 $85,986 1.05