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Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
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,
2024202320242023
Issuance of common stock and grants of exchangeability$29,943 $101,938 $63,775 $153,904 
Allocations of net income and dividend equivalents¹1,044 637 2,338 3,017 
LPU amortization— 19,447 — 40,878 
RSU, RSU Tax Account, and restricted stock amortization35,220 4,622 96,175 10,218 
Equity-based compensation and allocations of net income
to limited partnership units and FPUs
$66,207 $126,644 $162,288 $208,017 
____________________________
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,
2024202320242023
Issuance of common stock and grants of exchangeability$29,943 $101,938 $63,775 $153,904 
Compensation expense related to the amortization of BGC Holdings (prior to the Corporate Conversion) and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Stated vesting schedule$— $19,440 $— $40,848 
Post-termination payout— 7 — 30 
LPU amortization$— $19,447 $— $40,878 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
RSU amortization
$21,229 $4,622 $40,696 $10,218 
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, 20238,779 
Granted— 
Redeemed/exchanged units(338)
Forfeited units(8)
Balance at June 30, 20248,433 
Summary 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, 2024, is as follows (in thousands):
Newmark
LPUs
Regular Units6,517 
Preferred Units1,916 
Balance at June 30, 20248,433 
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 June 30,Six Months Ended June 30,
2024202320242023
BGC Holdings LPUs— 14,710 — 25,684 
Newmark Holdings LPUs62 100 123 179 
Total62 14,810 123 25,863 
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):
RSUsWeighted-
Average
Grant
Date Fair
Value		Fair Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)
Balance at December 31, 202364,942 $4.11 $267,015 5.96
Granted14,122 7.44 105,060 
Delivered(7,718)4.01 (30,935)
Forfeited(770)4.72 (3,635)
Balance at June 30, 202470,576 $4.78 $337,505 5.88
A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (restricted stock and dollars in thousands):
Restricted Stock
Weighted-
Average
Grant
Date Fair
Value		Fair Value
Amount		Weighted-
Average
Remaining
Contractual
Term (Years)
Balance at December 31, 202327,953 $4.20 $117,468 2.55
Granted— — — 
Delivered(10,912)4.46 (48,659)
Forfeited(225)4.43 (997)
Balance at June 30, 202416,816 $4.03 $67,812 0.98