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Stock Transactions and Unit Redemptions (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Changes in Shares of Class A Common Stock Outstanding
Changes in shares of BGC Class A common stock outstanding for the years ended December 31, 2023 and 2022 were as follows (in thousands):
 Year Ended December 31,
 20232022
Shares outstanding at beginning of period325,858 317,023 
Share issuances:
Redemptions/exchanges of limited partnership interests and contingent share obligations¹
30,754 30,998 
Vesting of RSUs13,009 3,284 
Acquisitions4,566 1,206 
Other issuances of BGC Class A common stock2,946 501 
Restricted stock awards2
38,610 — 
Restricted stock forfeitures
(1,428)(67)
Treasury stock repurchases(24,220)(27,087)
Shares outstanding at end of period390,095 325,858 
____________________________________
1.    Contingent share obligations includes 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 year ended December 31, 2023 are 20.5 million shares of BGC Class A common stock granted in connection with the cancellation of 26.4 million LPUs and settlement of 0.4 million contingent share obligations. Included in redemption/exchanges of limited partnership interests and contingent share obligations for the year ended December 31, 2022, are 20.9 million shares of BGC Class A common stock granted in connection with the cancellation of 21.4 million LPUs. Because LPUs are included in the Company’s fully diluted share count, if dilutive, redemptions/exchanges in connection with the issuance of BGC Class A common stock would not impact the fully diluted number of shares outstanding.
2.    Included in restricted stock awards for the year ended December 31, 2023, are 22.4 million shares of restricted stock that do not receive dividends until their respective vesting and contingent conditions are met. These restricted stock awards do have voting rights.
Gross Unit Redemptions and Share Repurchases of Class A Common Stock
The table below represents the units redeemed and/or shares repurchased for cash and does not include units redeemed/cancelled in connection with the grant of shares of BGC Class A common stock nor the limited partnership interests exchanged for shares of BGC Class A common stock. The gross unit redemptions and share repurchases of BGC Class A common stock during the year ended December 31, 2023 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Units
Redeemed
or Shares
Repurchased		Weighted-
Average Price
Paid per Unit
or Share
Approximate
Dollar Value
of
Shares That Could  Be
Repurchased
Under the Program at December 31, 2023
Redemptions1
   
January 1, 2023—March 31, 202323 $3.90 
April 1, 2023—June 30, 2023422 4.91 
July 1, 2023—September 30, 2023— — 
October 1, 2023—December 31, 2023— — 
Total Redemptions445 $4.85 
Repurchases2
January 1, 2023—March 31, 2023846 $4.97 
April 1, 2023—June 30, 20239,814 4.44 
July 1, 2023—September 30, 20238,0874.99 
October 1, 2023—October 31, 20233
4,2695.63 
November 1, 2023—November 30, 20231,2046.15 
December 1, 2023—December 31, 2023— — 
Total Repurchases24,220 4.94 
Total Redemptions and Repurchases24,665 $4.93 $333,113 
____________________________________
1.    During the year ended December 31, 2023, the Company redeemed 0.3 million LPUs at an aggregate redemption price of $1.4 million for a weighted-average price of $4.71 per unit, and 0.2 million FPUs at an aggregate redemption price of $0.8 million for a weighted-average price of $5.11 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.5 million shares of BGC Class A common stock during the year ended December 31, 2023, nor the limited partnership interests exchanged for 13.6 million shares of BGC Class A common stock during the year ended December 31, 2023.
2.    During the year ended December 31, 2023, the Company repurchased 24.2 million shares of BGC Class A common stock at an aggregate price of $119.6 million for a weighted-average price of $4.94 per share. These repurchases includes 1.0 million restricted shares vested but withheld described in the following footnote.
3.    Includes 1.0 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. 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 fair value of restricted shares vested, withheld to satisfy tax liabilities was $5.0 million at a weighted-average price of $5.21 per share.
The gross unit redemptions and share repurchases of BGC Class A common stock during the year ended December 31, 2022 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Units
Redeemed
or Shares
Repurchased		Weighted-
Average Price
Paid per Unit
or Share
Approximate
Dollar Value
of
Units and Shares 
That Could Be 
Redeemed/
Repurchased
Under the Program at December 31, 2022
Redemptions1
   
January 1, 2022—March 31, 202243 $4.01 
April 1, 2022—June 30, 20221,010 3.81 
July 1, 2022—September 30, 2022214 3.91 
October 1, 2022—December 31, 202299 3.88 
Total Redemptions1,366 $3.84 
Repurchases2
January 1, 2022—March 31, 2022— $— 
April 1, 2022—June 30, 20228,745 3.36 
July 1, 2022—September 30, 202212,3974.03 
October 1, 2022—December 31, 2022
5,945$4.14 
Total Repurchases27,087 3.84 
Total Redemptions and Repurchases28,453 $3.84 $376,413 
____________________________________
1.    During the year ended December 31, 2022, the Company redeemed 1.3 million LPUs at an aggregate redemption price of $4.9 million for a weighted-average price of $3.87 per unit and 0.1 million FPUs at an aggregate redemption price of $0.4 million for a weighted-average price of $3.41 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.9 million shares of BGC Class A common stock during the year ended December 31, 2022, nor the limited partnership interests exchanged for 10.8 million shares of BGC Class A common stock during the year ended December 31, 2022.
2.    During the year ended December 31, 2022, the Company repurchased 27.1 million shares of BGC Class A common stock at an aggregate price of $103.9 million for a weighted-average price of $3.84 per share.
Summary of Changes in Carrying Amount of FPUs
The changes in the carrying amount of FPUs for the years ended December 31, 2023 and 2022 were as follows (in thousands):
 Year Ended December 31,
 20232022
Balance at beginning of period$15,519 $18,761 
Consolidated net income allocated to FPUs236 968 
Earnings distributions(236)(2,041)
FPUs exchanged(1,301)(1,339)
FPUs redeemed288 (830)
Corporate conversion
(14,506)— 
Balance at end of period$— $15,519