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Stock Transactions and Unit Redemptions
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Stock Transactions and Unit Redemptions Stock Transactions and Unit Redemptions
As of December 31, 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:
 Year Ended December 31,
 202020192018
Shares outstanding at beginning of period156,265,461 156,916,336 138,593,787 
Share issuances:
Issuance of Class A common stock in connection with The Spin-Off— — 16,292,623 
LPU redemption/exchange (1)
4,868,169 2,052,416 1,709,048 
Issuance of Class A common stock for Newmark RSUs972,490 1,536,530 343,135 
Other— 278,181 27,743 
Treasury stock repurchases(930,226)(4,518,002)(50,000)
Shares outstanding at end of period161,175,894 156,265,461 156,916,336 
(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 December 31, 2020 and 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. During the year ended December 31, 2020, Newmark had repurchased 930,226 shares of Class A common stock at an average price of $7.33. As of December 31, 2020, Newmark had $150.6 million remaining from its share repurchase and unit purchase authorization (see Note 32 — “Subsequent Events”).

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):
Total
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— — — 
October 1, 2020 - December 31, 2020930,226 7.33 930,226 
Total5,498,228 $8.99 5,498,228 $150,596 

Redeemable Partnership Interests
The changes in the carrying amount of FPUs as of December 31, 2020 and 2019 were as follows (in thousands):
December 31,
 20202019
Balance at beginning of period:$21,517 $26,170 
Income allocation1,740 5,288 
Distributions of income(1,740)(5,355)
Redemptions(1,472)(927)
Issuance and other— (3,659)
Balance at end of period$20,045 $21,517