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Stock Transactions and Unit Redemptions
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Stock Transactions and Unit Redemptions Stock Transactions and Unit Redemptions
As of March 31, 2024, 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,
 20242023
Shares outstanding at beginning of period152,639,359 150,384,605 
Share issuances:
LPU redemption/exchange (1)
2,189,183 1,927,905 
Issuance of Class A common stock for Newmark RSUs1,070,027 985,540 
Other246,426 (155,240)
Treasury stock repurchases(3,463,399)— 
Shares outstanding at end of period152,681,596 153,142,810 
(1)Because they were included in 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 both March 31, 2024 and December 31, 2023, there were 21.3 million shares of Newmark Class B common stock outstanding.

Share Repurchases
On February 10, 2022, the Board and Audit Committee authorized 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. On November 4, 2022, the Board and Audit Committee reauthorized the $400.0 million Newmark share repurchase and unit redemption authorization, which has no expiration date and 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 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, 2024, Newmark had $317.7 million remaining from its share repurchase and unit purchase authorization. During the three months ended March 31, 2023, Newmark did not repurchase shares of Class A common stock. As of December 31, 2023, Newmark had $354.9 million remaining from its share repurchase and unit purchase authorization.

The following table details Newmark’s share repurchases for cash under the current program. The gross share repurchases of Newmark’s Class A common stock during the three months ended March 31, 2024 were as follows (in thousands except shares and per share amounts):
Total
Number of
Shares
Repurchased/Purchased		Average
Price Paid
per Share		Approximate
Dollar Value
of Units and
Shares That
May Yet Be
Repurchased/
Purchased
Under the 
Program
Repurchases
January 1, 2024 - January 31, 2024
35,006 $10.85 
February 1, 2024 - February 29, 2024
771,477 $10.65 
March 1, 2024 - March 31, 2024
2,656,916 $10.75 
Total Repurchases3,463,399 $10.73 $317,691 

Redeemable Partnership Interests
The changes in the carrying amount of FPUs follow (in thousands):
 March 31, 2024December 31, 2023
Balance at beginning of period:$16,244 $16,550 
Income allocation— 1,451 
Distributions of income— (380)
Issuance and other(713)(1,377)
Balance at end of period$15,531 $16,244