Stock Transactions and Unit Purchases

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Stock Transactions and Unit Purchases

Stock Transactions and Unit Purchases

As of March 31, 2025, Newmark has two classes of authorized common stock: Class A common stock and Class B common stock.

Class A Common Stock

Each share of Class A common stock is entitled to one vote. Newmark has 1.0 billion authorized shares of Class A common stock at $0.01 par value per share.

Changes in shares of Newmark’s Class A common stock outstanding were as follows:

	Three Months Ended March 31,
	2025	2024
Shares outstanding at beginning of period	149,506,832	152,639,359
Share issuances:
LPU redemption/exchange	10,550,529	2,189,183
Issuance of Class A common stock for Newmark RSUs	1,370,555	1,070,027
Other	496,634	246,426
Treasury stock repurchases	—	(3,463,399)
Shares outstanding at end of period	161,924,550	152,681,596

Class B Common Stock

Each share of Class B common stock is entitled to 10 votes and is convertible at any time into one share of Class A common stock.

As of both March 31, 2025 and December 31, 2024, there were 21.3 million shares of Newmark Class B common stock outstanding.

Share Repurchases and Unit Purchases

On November 4, 2024, Newmark’s Board re-authorized share repurchases of Newmark Class A common stock and purchases of limited partnership interests in Newmark’s subsidiaries by Newmark in an aggregate amount up to $400.0 million.

From time to time, Newmark may actively continue to repurchase shares and/or purchase units. During the three months ended March 31, 2025, Newmark did not make any repurchases of shares or units. During the three months ended March 31, 2024, Newmark repurchased 3.5 million shares of Class A common stock at an average price of $10.73 per share. As of March 31, 2025, Newmark had 371.9 million remaining from its share repurchase and unit purchase authorization.

Redeemable Partnership Interests

The changes in the carrying amount of FPUs follow (in thousands):

	March 31, 2025		December 31, 2024
Balance at beginning of period:	$	13,900	$	16,244
Income allocation	—		1,428
Distributions of income	(385)		(1,196)
Issuance and other	(579)		(2,576)
Balance at end of period	$	12,936	$	13,900