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Stock Transactions and Unit Redemptions (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
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,
20242023
Shares outstanding at beginning of period390,095 325,858 
Share issuances:
Redemptions/exchanges of limited partnership interests and contingent share obligations¹
364 13,145 
Vesting of RSUs3,710 2,096 
Acquisitions472 658 
Other issuances of BGC Class A common stock2,379 13 
Restricted stock forfeitures(636)(49)
Treasury stock repurchases(11,250)(846)
Shares outstanding at end of period2
385,134 340,875 
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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 March 31, 2024 and 2023 are 0.4 million shares of BGC Class A common stock granted in connection with 0.4 million contingent share obligations, and 6.9 million shares of BGC Class A common stock granted in connection with the cancellation of 7.3 million LPUs, respectively. 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.
2Shares outstanding at end of the period, March 31, 2024, includes 20.4 million shares of certain restricted stock awards 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 tables below represent the units redeemed and/or the shares repurchased for cash or withheld to satisfy tax liabilities due upon the vesting of restricted stock and do 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 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):
PeriodTotal 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
Repurchases1,2
January 1, 2024—January 31, 20243,609 $6.95 
February 1, 2024—February 29, 20246,586 7.02 
March 1, 2024—March 31, 20241,055 8.23 
Total Repurchases11,250 $7.11 $264,565 
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1During the three months ended March 31, 2024, the Company repurchased 11.2 million shares of BGC Class A common stock at an aggregate price of $80.0 million for a weighted-average price of $7.11 per share. These repurchases includes 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 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 $11.4 million at a weighted-average price of $7.99 per share.
The gross unit redemptions and share repurchases of BGC Class A common stock during the three months ended March 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 Redeemed/ Purchased
Under the Program at March 31, 2023
Redemptions1
January 1, 2023—March 31, 202323 $3.90 
Total Redemptions23 $3.90 
Repurchases2
January 1, 2023—January 31, 2023— $— 
February 1, 2023—February 28, 2023— — 
March 1, 2023—March 31, 2023846 4.97 
Total Repurchases846 $4.97 
Total Redemptions and Repurchases869 $4.95 $372,115 
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1The Company redeemed an immaterial amount of LPUs during the three months ended March 31, 2023. During the three months ended March 31, 2023, the Company redeemed 23 thousand FPUs at an aggregate redemption price of $0.1 million for a weighted-average price of $3.90 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 6.9 million shares of BGC Class A common stock during the three months ended March 31, 2023, nor the limited partnership interests exchanged for 6.3 million shares of BGC Class A common stock during the three months ended March 31, 2023.
2During the three months ended March 31, 2023, the Company repurchased 0.8 million shares of BGC Class A common stock at an aggregate price of $4.2 million for a weighted average price of $4.97 per share.
Summary of Changes in Carrying Amount of FPUs
The changes in the carrying amount of FPUs were as follows (in thousands):
Three Months Ended March 31, 2023
Balance at beginning of period$15,519 
Consolidated net income allocated to FPUs236 
FPUs exchanged(309)
FPUs redeemed(23)
Balance at end of period$15,423