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Stock Transactions and Unit Redemptions
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Stock Transactions and Unit Redemptions Stock Transactions and Unit Redemptions
As of September 30, 2020, 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 September 30,Nine Months Ended September 30,
 2020201920202019
Shares outstanding at beginning of period157,811,436 156,679,527 156,265,461 156,916,336 
Share issuances:
LPU redemption/exchange (1)
607,971 543,990 1,617,690 1,666,766 
Issuance of Class A common stock for Newmark RSUs210,718 42,618 746,974 217,223 
Other— 2,364 — 81,206 
Treasury stock repurchases— (2,279,373)— (3,892,405)
Shares outstanding at end of period158,630,125 154,989,126 158,630,125 154,989,126 
(1)Because they were included in the Newmark’s fully diluted share count, if dilutive, any exchange of LPUs into Class A common stock would not impact the fully diluted number of shares and units outstanding. 

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 September 30, 2020 and September 30, 2019, there were 21.3 million shares of Newmark Class B common stock outstanding.  

Share Repurchases
On August 1, 2018, the Newmark Board of Directors and Audit Committee authorized repurchases of shares of Newmark Class A common stock and purchases of limited partnership interests or other equity interests in Newmark's subsidiaries up to $200 million. This authorization includes repurchases of shares or purchase of units from executive officers, other employees and partners, including of BGC and Cantor, as well as other affiliated persons or entities. From time to time, Newmark may actively continue to repurchase shares and/or purchase units. As of September 30, 2020, Newmark had repurchased 4.6 million shares of Class A common stock at an average price of $9.32. As of September 30, 2020, Newmark had $157.4 million remaining from its share repurchase and unit purchase authorization.

The following table details Newmark's share repurchase activity during 2020, including the total number of shares purchased, the average price paid per share, the number of shares repurchased as part of Newmark's publicly announced repurchase program and the approximate value that may yet be purchased under such program (in thousands except share and per share amounts):
PeriodTotal
Number of
Shares
Repurchased/Purchased		Average
Price Paid
per Unit
or Share		Total Number of Shares Repurchased as Part of Publicly Announced ProgramApproximate
Dollar Value
of Units and
Shares That
May Yet Be
Repurchased/
Purchased
Under the 
Program
Balance, January 1, 20204,568,002 $9.32 4,568,002 $157,413 
January 1, 2020 - March 31, 2020— — — — 
April 1, 2020 - June 30, 2020— — — — 
July 1, 2020 - September 30, 2020— — — — 
Total4,568,002 $9.32 4,568,002 $157,413 
Redeemable Partnership Interests
The changes in the carrying amount of FPUs as of September 30, 2020 and December 31, 2019 were as follows (in thousands):
 September 30, 2020December 31, 2019
Balance at beginning of period:$21,517 $26,170 
Income allocation1,740 5,288 
Distributions of income(5)(5,355)
Redemptions(644)(927)
Issuance and other— (3,659)
Balance at end of period$22,608 $21,517