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Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of 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 September 30,Nine Months Ended September 30,
2024202320242023
Issuance of common stock and grants of exchangeability$37,928 $242 $101,703 $154,146 
Allocations of net income and dividend equivalents¹1,286 1,137 3,624 4,154 
LPU amortization— — — 40,878 
RSU, RSU Tax Account, and restricted stock amortization46,476 67,889 142,651 78,107 
Equity-based compensation and allocations of net income
to limited partnership units and FPUs
$85,690 $69,268 $247,978 $277,285 
____________________________
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 September 30,Nine Months Ended September 30,
2024202320242023
Issuance of common stock and grants of exchangeability$37,928 $242 $101,703 $154,146 
Compensation expense related to the amortization of BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Stated vesting schedule$— $— $— $40,848 
Post-termination payout— — — 30 
LPU amortization$— $— $— $40,878 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
RSU amortization
$29,925 $36,568 $70,621 $46,786 
Schedule of 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(2,165)
Forfeited units(185)
Balance at September 30, 20246,429 
Schedule 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 September 30, 2024 is as follows (in thousands):
Newmark
LPUs
Regular Units4,597 
Preferred Units1,832 
Balance at September 30, 20246,429 
Schedule of 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 September 30,Nine Months Ended September 30,
2024202320242023
BGC Holdings LPUs— — — 25,684 
Newmark Holdings LPUs1,804 53 1,926 230 
Total1,804 53 1,926 25,914 
Schedule of 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 fair value amount 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
Granted18,156 7.54 136,847 
Delivered(10,981)3.95 (43,413)
Forfeited(1,026)5.45 (5,598)
Balance at September 30, 202471,091 $4.99 $354,851 4.86
A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (shares of restricted stock and dollars in thousands):
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(15,008)4.20 (63,036)
Forfeited(277)5.83 (1,610)
Balance at September 30, 202412,668 $4.17 $52,822 0.56