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Stock Transactions and Unit Redemptions (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Shares outstanding at beginning of period378,134 385,134 374,297 390,095 
Share issuances:
Redemptions/exchanges of limited partnership interests and contingent share obligations1
376 753 617 1,118 
Vesting of RSUs2,254 1,975 7,078 5,685 
Acquisitions268 — 642 472 
Other issuances of BGC Class A common stock2,487 2,450 4,340 4,829 
Restricted stock forfeitures(102)(36)(373)(673)
Treasury stock repurchases2
(17,224)(10,688)(20,408)(21,938)
Shares outstanding at end of period
366,193 379,588 366,193 379,588 
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1Contingent 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 June 30, 2025 and 2024 are 0.4 million shares of BGC Class A common stock granted in connection with 0.4 million contingent share obligations, and 0.8 million shares of BGC Class A common stock granted in connection with 0.8 million contingent share obligations, respectively. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the six months ended June 30, 2025 and 2024 are 0.6 million shares of BGC Class A common stock granted in connection with 0.7 million contingent share obligations, and 1.1 million shares of BGC Class A common stock granted in connection with 1.2 million contingent share obligations, respectively. Because contingent share obligations were included in the Company’s fully diluted share count, if dilutive, settlement of contingent share obligations in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding.
2Treasury 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 and six months ended June 30, 2025 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Shares
Repurchased		Weighted-Average Price
Paid per Share
Approximate Dollar Value of Shares That Could Be Repurchased
Under the Program at June 30, 2025
Repurchases1,2
January 1, 2025—March 31, 20253,184 $9.36 
April 1, 2025—April 30, 20251,097 9.22 
May 1, 2025—May 31, 2025³16,115 9.21 
June 1, 2025—June 30, 202512 9.75 
Total Repurchases20,408 $9.23 $178,389 
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1During the three months ended June 30, 2025, the Company repurchased 17.2 million shares of BGC Class A common stock for an aggregate price of $158.6 million for a weighted-average price of $9.21 per share. These repurchases include 1.1 million restricted shares vested but withheld described in the following footnote. During the six months ended June 30, 2025, the Company repurchased 20.4 million shares of BGC Class A common stock for an aggregate price of $188.4 million at a weighted-average price of $9.23 per share. These repurchases include 1.8 million restricted shares vested but withheld described in the following footnote.
2The three months ended June 30, 2025 include an aggregate of 1.1 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 $10.1 million at a weighted-average price of $9.22 per share. The six months ended June 30, 2025 include an aggregate of 1.8 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 $16.8 million at a weighted-average price of $9.16 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.
3On May 16, 2025, Mr. Howard W. Lutnick agreed to sell 16.1 million shares of BGC Class A common stock to BGC at a price of $9.2082 per share pursuant to the Company’s Share Repurchase Authorization. Such repurchase closed on May 19, 2025, and was approved by the Audit Committee. See Note 13—“Related Party Transactions” for further information.
The share repurchases of BGC Class A common stock during the three and six months ended June 30, 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 June 30, 2024
Repurchases1,2
January 1, 2024—March 31, 202411,250 $7.11 
April 1, 2024—April 30, 20241,555 7.68 
May 1, 2024—May 31, 20245,031 8.62 
June 1, 2024—June 30, 20244,102 8.21 
Total Repurchases21,938 $7.70 $183,492 
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1During the three months ended June 30, 2024, the Company repurchased 10.7 million shares of BGC Class A common stock for an aggregate price of $89.0 million at a weighted-average price of $8.32 per share. These repurchases include 1.3 million restricted shares vested but withheld described in the following footnote. During the six months ended June 30, 2024, the Company repurchased 21.9 million shares of BGC Class A common stock for an aggregate price of $168.9 million at a weighted-average price of $7.70 per share. These repurchases include 2.7 million restricted shares vested but withheld described in the following footnote.
2The three months ended June 30, 2024 include an aggregate of 1.3 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 $9.6 million at a weighted-average price of $7.61 per share. The six months ended June 30, 2024 includes an aggregate of 2.7 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 $21.0 million at a weighted-average price of $7.81 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.