XML 70 R52.htm IDEA: XBRL DOCUMENT v3.25.0.1
Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Compensation Related Costs [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):
Year Ended December 31,
202420232022
Issuance of common stock and grants of exchangeability$184,667 $171,646 $147,480 
Allocations of net income and dividend equivalents1
4,196 6,302 13,298 
LPU amortization— 40,878 73,734 
RSU, RSU Tax Account, and restricted stock amortization
180,280 136,552 16,559 
Equity-based compensation and allocations of net income to limited partnership units and FPUs$369,143 $355,378 $251,071 
_______________________________________
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):
Year Ended December 31,
202420232022
Issuance of common stock and grants of exchangeability$184,667 $171,646 $147,480 
Compensation expense related to the amortization of LPUs held by BGC is as follows (in thousands):
Year Ended December 31,
202420232022
Stated vesting schedule$— $40,848 $74,561 
Post-termination payout— 30 (827)
LPU amortization$— $40,878 $73,734 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Year Ended December 31,
202420232022
RSU amortization$101,673 $79,960 $16,559 
Schedule of Activity Associated with Limited Partnership Units Held by BGC Employees
Limited Partnership Units
A summary of the activity associated with LPUs held by BGC employees is as follows (in thousands):
BGC
LPUs		Newmark
LPUs
Balance at December 31, 2021112,115 11,051 
Granted27,968 — 
Redeemed/exchanged units(24,623)(1,636)
Forfeited units(5,112)(64)
Balance at December 31, 2022110,348 9,351 
Granted9,688 — 
Redeemed/exchanged units(119,812)(572)
Forfeited units(224)— 
Balance at December 31, 2023— 8,779 
Granted— — 
Redeemed/exchanged units— (5,342)
Forfeited units— (501)
Balance at December 31, 2024— 2,936 
Schedule of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees
A summary of Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Newmark
LPUs
Regular Units2,036 
Preferred Units900 
Balance at December 31, 20242,936 
Schedule of 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):
Year Ended December 31,
202420232022
BGC Holdings LPUs— 25,711 29,363 
Newmark Holdings LPUs4,919 301 596 
Total4,919 26,012 29,959 
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):
RSUsWeighted- Average Grant Date Fair ValueFair Value AmountWeighted- Average Remaining Contractual Term (Years)
Balance at December 31, 202111,034 $3.87 $42,756 2.27
Granted7,125 4.27 30,406 
Delivered(4,858)3.86 (18,743)
Forfeited(1,255)3.93 (4,933)
Balance at December 31, 202212,046 $4.11 $49,486 2.42
Granted68,732 4.12 283,418 
Delivered(15,078)4.14 (62,494)
Forfeited(758)4.48 (3,395)
Balance at December 31, 202364,942 $4.11 $267,015 5.96
Granted22,533 7.82 176,141 
Delivered(13,142)4.05 (53,185)
Forfeited(1,835)5.45 (9,997)
Balance at December 31, 202472,498 $5.24 $379,974 4.58
Schedule of Activity Associated with Restricted Stock Awards
A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (shares of 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, 2022— $— $— N/A
Granted38,610 4.37 168,716 
Delivered(9,329)5.12 (47,763)
Forfeited(1,328)2.62 (3,485)
Balance at December 31, 202327,953 $4.20 $117,468 2.55
Granted— — — 
Delivered(19,920)3.99 (79,551)
Forfeited(729)3.84 (2,798)
Balance at December 31, 20247,304 $4.81 $35,119 0.59