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Stock Transactions and Unit Redemptions (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of 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, 2025 and 2024 were as follows (in thousands):
 Year Ended December 31,
 20252024
Shares outstanding at beginning of period374,297 390,095 
Share issuances:
Redemptions/exchanges of limited partnership interests and contingent share obligations¹
922 1,756 
Vesting of RSUs9,873 9,996 
Acquisitions694 1,062 
Other issuances of BGC Class A common stock9,895 9,028 
Restricted stock forfeitures
(468)(1,440)
Treasury stock repurchases2
(32,038)(36,200)
Shares outstanding at end of period363,175 374,297 
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1    Contingent 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 year ended December 31, 2025 are 0.9 million shares of BGC Class A common stock granted in connection with 1.0 million contingent share obligations. Included in redemptions/exchanges of limited partnership interests and contingent share obligations for the year ended December 31, 2024 are 1.8 million shares of BGC Class A common stock granted in connection with 1.8 million contingent share obligations. Because contingent share obligations were included in the Company’s fully diluted share count, if dilutive, settlement of contingent share obligations in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding.
2    Treasury stock repurchases include shares withheld for taxes on restricted stock vesting. See “Unit Redemptions and Share Repurchase Program.”
Schedule of Gross Unit Redemptions and Share Repurchases of Class A Common Stock
The tables below represent 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 year ended December 31, 2025 were as follows (in thousands, except for weighted-average price data):
Period
Total Number
of Shares
Repurchased
Weighted-
Average Price
Paid per Share
Approximate
Dollar Value of
Shares That Could Be
Repurchased
Under the Program at December 31, 2025
Repurchases1, 2
January 1, 2025—March 31, 2025
3,184 $9.36 
April 1, 2025—June 30, 20253
17,224 9.21 
July 1, 2025—September 30, 2025
4,239 9.88 
October 1, 2025—October 31, 2025
6,200 9.22 
November 1, 2025—November 30, 2025
1,191 9.10 
December 1, 2025—December 31, 2025
— — 
Total Repurchases32,038 $9.31 $389,179 
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1    During the year ended December 31, 2025, the Company repurchased 32.0 million shares of BGC Class A common stock at an aggregate price of $298.3 million for a weighted-average price of $9.31 per share. These repurchases include 1.8 million restricted shares vested but withheld described in the following footnote.
2    Includes 1.8 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The fair value of restricted shares vested but withheld to satisfy tax liabilities was $16.9 million at a weighted-average price of $9.16 per share. 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.
3    On May 16, 2025, Mr. Howard Lutnick agreed to sell 16.1 million shares of BGC Class A common stock to BGC at a price of $9.2082 per share pursuant to the Company’s Share Repurchase Authorization. Such repurchase closed on May 19, 2025, and was approved by the Audit Committee. See Note 13—“Related Party Transactions” for further information.
The share repurchases of BGC Class A common stock during the year ended December 31, 2024 were as follows (in thousands, except for weighted-average price data):
Period
Total Number
of Shares
Repurchased
Weighted-
Average Price
Paid per Share
Approximate
Dollar Value
of
Shares 
That Could Be Repurchased
Under the Program at December 31, 2024
Repurchases1,2
January 1, 2024—March 31, 2024
11,250 $7.11 
April 1, 2024—June 30, 2024
10,688 8.32 
July 1, 2024—September 30, 2024
7,893 9.05 
October 1, 2024—October 31, 2024
6,369 9.45 
November 1, 2024—November 30, 2024
— — 
December 1, 2024—December 31, 2024
— — 
Total Repurchases
36,200 $8.30 $350,000 
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1    During the year ended December 31, 2024, the Company repurchased 36.2 million shares of BGC Class A common stock for an aggregate price of $300.5 million at a weighted-average price of $8.30 per share. These repurchases include 4.6 million restricted shares vested but withheld described in the following footnote.
2    Includes 4.6 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The fair value of restricted shares vested but withheld to satisfy tax liabilities was $38.4 million at a weighted-average price of $8.35 per share. 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.