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Stock Transactions and Unit Redemptions (Tables) | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Schedule of Changes in Shares of Class A Common Stock Outstanding | Changes in shares of BGC Class A common stock outstanding were as follows (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Shares outstanding at beginning of period | 374,297 |  |  | 390,095 |  |  |  |  |
Share issuances: |  |  |  |  |  |  |
Redemptions/exchanges of limited partnership interests and contingent share obligations 1 | 243 |  |  | 364 |  |  |  |  |
Vesting of RSUs | 4,823 |  |  | 3,710 |  |  |  |  |
Acquisitions | 373 |  |  | 472 |  |  |  |  |
Other issuances of BGC Class A common stock | 1,853 |  |  | 2,379 |  |  |  |  |
Restricted stock forfeitures | (271) |  |  | (636) |  |  |  |  |
Treasury stock repurchases 2 | (3,184) |  |  | (11,250) |  |  |  |  |
Shares outstanding at end of period | 378,134 |  |  | 385,134 |  |  |  |  |
____________________________ 1 Contingent share obligations include shares of BGC Class A common stock issued to terminated employees per their respective separation agreements. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the three months ended March 31, 2025 and 2024 are 0.2 million shares of BGC Class A common stock granted in connection with 0.3 million contingent share obligations, and 0.4 million shares of BGC Class A common stock granted in connection with 0.4 million contingent share obligations, respectively. Because LPUs were included in the Company’s fully diluted share count, if dilutive, redemptions/exchanges of LPUs in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding. 2 Treasury stock repurchases includes shares withheld for taxes on restricted stock vesting. See Note 7—“Stock Transactions and Unit Redemptions: Unit Redemptions and Share Repurchase Program.”
Schedule of Share Repurchases of Class A Common Stock | The tables below represent the shares repurchased for cash or withheld to satisfy tax liabilities due upon the vesting of restricted stock. The share repurchases of BGC Class A common stock during the three months ended March 31, 2025 were as follows (in thousands, except for weighted-average price data):
Period |  | Total Number of Shares Repurchased |  | Weighted-Average Price Paid per Share |  | Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at March 31, 2025
Repurchases 1,2 |  |  |  |  |  |
January 1, 2025—January 31, 2025 |  | 3,171 |  |  | $ | 9.36 |  |  |
February 1, 2025—February 28, 2025 |  | — |  |  | — |  |  |
March 1, 2025—March 31, 2025 |  | 13 |  |  | 9.35 |  |  |
Total Repurchases |  | 3,184 |  |  | $ | 9.36 |  |  | $ | 326,899 |
___________________________ 1 During the three months ended March 31, 2025, the Company repurchased 3.2 million shares of BGC Class A common stock at an aggregate price of $29.8 million for a weighted-average price of $9.36 per share. These repurchases include 0.7 million restricted shares vested but withheld described in the following footnote. 2 The three months ended March 31, 2025 include an aggregate of 0.7 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The fair value of restricted shares vested, but withheld to satisfy tax liabilities, was $6.7 million at a weighted-average price of $9.06 per share. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date. The share repurchases of BGC Class A common stock during the three months ended March 31, 2024 were as follows (in thousands, except for weighted-average price data):
Period |  | Total Number of Shares Repurchased |  | Weighted-Average Price Paid per Share |  | Approximate Dollar Value of Shares That Could Be Repurchased Under the Program at March 31, 2024
Repurchases 1,2 |  |  |  |  |  |
January 1, 2024—January 31, 2024 |  | 3,609 |  |  | $ | 6.95 |  |  |
February 1, 2024—February 29, 2024 |  | 6,586 |  |  | 7.02 |  |  |
March 1, 2024—March 31, 2024 |  | 1,055 |  |  | 8.23 |  |  |
Total Repurchases |  | 11,250 |  |  | $ | 7.11 |  |  | $ | 264,565 |
____________________________ 1 During the three months ended March 31, 2024, the Company repurchased 11.2 million shares of BGC Class A common stock for an aggregate price of $80.0 million at a weighted-average price of $7.11 per share. These repurchases include 1.4 million restricted shares vested but withheld described in the following footnote. 2Includes an aggregate of 1.4 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The fair value of restricted shares vested, withheld to satisfy tax liabilities, was $11.4 million at a weighted-average price of $7.99 per share. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date.

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