XML 60 R47.htm IDEA: XBRL DOCUMENT v3.25.2
Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
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 June 30,Six Months Ended June 30,
2025202420252024
Issuance of common stock and grants of exchangeability$35,823 $29,943 $62,464 $63,775 
Allocations of net income and dividend equivalents¹534 1,044 1,085 2,338 
RSU, RSU Tax Account, and restricted stock amortization47,569 35,220 95,700 96,175 
Equity-based compensation and allocations of net income to limited partnership units and FPUs$83,926 $66,207 $159,249 $162,288 
____________________________
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 June 30,Six Months Ended June 30,
2025202420252024
Issuance of common stock and grants of exchangeability$35,823 $29,943 $62,464 $63,775 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
RSU amortization
$42,189 $21,229 $81,846 $40,696 
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, 20242,936 
Granted— 
Redeemed/exchanged units(500)
Forfeited units(22)
Balance at June 30, 20252,414 
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 June 30, 2025 is as follows (in thousands):
Newmark
LPUs
Regular Units1,603 
Preferred Units811 
Balance at June 30, 20252,414 
Schedule of Activity Associated with Limited Partnership Units Awarded to BGC Employees
A summary of the LPUs redeemed in connection with the issuance of Newmark Class A common stock (at the then-current Exchange Ratio) or granted exchangeability for 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,
2025202420252024
Newmark Holdings LPUs49 62 148 123 
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, except for per share amounts and weighted-average term):
RSUs
Weighted-Average Grant
Date Fair Value Per Share
Fair Value AmountWeighted-Average Remaining
Contractual Term (Years)
Balance at December 31, 202472,498 $5.24 $379,974 4.58
Granted11,758 8.80 103,486 
Delivered(10,080)5.17 (52,097)
Forfeited(1,360)5.96 (8,108)
Balance at June 30, 202572,816 $5.81 $423,255 4.47
A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (shares of restricted stock and fair value in thousands, except for per share amounts and weighted-average term):
Restricted Stock
Weighted-Average Grant
Date Fair Value Per Share
Fair Value AmountWeighted-Average Remaining
Contractual Term (Years)
Balance at December 31, 20247,304 $4.81 $35,119 0.59
Granted— — — 
Delivered(6,708)4.82 (32,357)
Forfeited(248)4.92 (1,221)
Balance at June 30, 2025348 $4.43 $1,541 8.01