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Stock Transactions and Unit Redemptions
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Stock Transactions and Unit Redemptions Stock Transactions and Unit Redemptions
As of June 30, 2022, 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 June 30,Six Months Ended June 30,
 2022202120222021
Shares outstanding at beginning of period168,557,363 163,113,922 168,272,371 161,175,894 
Share issuances:
LPU redemption/exchange (1)
2,395,043 1,140,363 3,329,911 2,992,165 
Issuance of Class A common stock for Newmark RSUs369,567 278,139 1,389,041 1,243,608 
Other51,314 18,817,132 64,835 18,817,132 
Treasury stock repurchases(11,370,647)(3,613,098)(13,053,518)(4,492,341)
Shares outstanding at end of period160,002,640 179,736,458 160,002,640 179,736,458 
(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 June 30, 2022 and December 31, 2021, there were 21.3 million shares of Newmark Class B common stock outstanding.

Share Repurchases
On February 17, 2021, our Board increased its authorized share repurchases of Newmark Class A Common stock and purchases of limited partnership interests in Newmark's subsidiaries to $400.0 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. On February 10, 2022, the Board and Audit Committee reauthorized the $400.0 million Newmark share repurchase and unit redemption authorization, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities.
From time to time, Newmark may actively continue to repurchase shares and/or purchase units. During the three and six months ended June 30, 2022, Newmark repurchased 11,370,647 and 13,053,518 shares of Class A common stock, respectively, at an average price of $12.76 and $13.47, respectively. As of June 30, 2022, Newmark had $252.2 million remaining from its share repurchase and unit purchase authorization.

The following table details Newmark's unit redemptions and share repurchases for cash, under the new program, and does not include unit redemptions and/or cancellations in connection with the grant of shares of Newmark's Class A common stock. The gross unit redemptions and share repurchases of Newmark's Class A common stock during the six months ended June 30, 2022 were as follows (in thousands except units, shares and per share amounts):
Total
Number of
Shares
Repurchased/Purchased		Average
Price Paid
per Unit
or Share		Approximate
Dollar Value
of Units and
Shares That
May Yet Be
Repurchased/
Purchased
Under the 
Program
Repurchases
January 1, 2022 - March 31, 20221,682,871 $18.35 
April 20226,025,762 $13.96 
May 20224,544,224 $11.82 
June 2022800,661 $9.03 
Total Repurchases13,053,518 $13.47 $252,192 

Redeemable Partnership Interests
The changes in the carrying amount of FPUs follow (in thousands):
 June 30, 2022December 31, 2021
Balance at beginning of period:$20,947 $20,045 
Income allocation1,230 4,532 
Distributions of income(3,260)(1,215)
Redemptions— (2,169)
Issuance and other(697)(246)
Balance at end of period$18,220 $20,947