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Compensation (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Compensation Expense
The Company incurred compensation expense related to Class A common stock, LPUs and RSUs held by BGC employees as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Issuance of common stock and grants of exchangeability$32,469 $47,177 $83,064 $86,253 
Allocations of net income¹3,492 6,943 11,916 19,420 
LPU amortization18,961 19,861 53,585 53,696 
RSU amortization2,808 4,509 13,174 10,906 
Equity-based compensation and allocations of net income
   to limited partnership units and FPUs		$57,730 $78,490 $161,739 $170,275 
____________________________
1Certain LPUs generally receive quarterly allocations of net income, including the Preferred Distribution, and are generally contingent upon services being provided by the unit holders.
Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Issuance of common stock and grants of exchangeability$32,469 $47,177 $83,064 $86,253 
Compensation expense related to the amortization of LPUs held by BGC employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Stated vesting schedule$18,843 $19,880 $53,421 $53,655 
Post-termination payout118 (18)164 41 
LPU amortization$18,961 $19,862 $53,585 $53,696 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
RSU amortization$2,808 $4,509 $13,174 $10,906 
Activity Associated with Limited Partnership Units Held by BGC Employees
A summary of the activity associated with LPUs held by BGC employees is as follows (in thousands):
BGC
LPUs
Newmark
LPUs2
Balance at December 31, 2021112,115 11,051 
Granted20,653 — 
Redeemed/exchanged units(22,370)(714)
Forfeited units(895)(64)
Balance at September 30, 2022109,503 10,273 
Summary of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees
A summary of the BGC Holdings and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
BGC
LPUs		Newmark
LPUs
Regular Units77,126 7,841 
Preferred Units32,377 2,432 
Balance at September 30, 2022109,503 10,273 
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,
2022202120222021
BGC Holdings LPUs8,066 7,812 18,732 14,477 
Newmark Holdings LPUs142 358 489 961 
Total8,208 8,170 19,221 15,438 
Summary of Outstanding LPUs Held by BGC Employees with Stated Vesting
A summary of the outstanding LPUs held by BGC employees with a stated vesting schedule that do not receive quarterly allocations of net income is as follows (in thousands):
September 30, 2022December 31, 2021
BGC Holdings LPUs42,938 42,754 
Newmark Holdings LPUs189 235 
Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs$184,484 $178,873 
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, 202111,034 $3.87 $42,756 2.27
Granted6,231 4.39 27,372 
Delivered(4,380)3.86 (16,901)
Forfeited(972)3.86 (3,750)
Balance at September 30, 202211,913 4.15 49,477 2.61