v3.26.1
Stock Transactions
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stock Transactions Stock Transactions
Class A Common Stock
Changes in shares of BGC Class A common stock outstanding for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
Three Months Ended March 31,
20262025
Shares outstanding at beginning of period363,175 374,297 
Share issuances:
Contingent share obligations1
109 243 
Vesting of RSUs3,912 4,823 
Acquisitions375 373 
Other issuances of BGC Class A common stock2,129 1,853 
Restricted stock forfeitures(24)(271)
Treasury stock repurchases2
(246)(3,184)
Shares outstanding at end of period
369,430 378,134 
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1Contingent share obligations include shares of BGC Class A common stock issued to terminated employees per their respective separation agreements. Included in contingent share obligations for the three months ended March 31, 2026 and 2025 are 0.1 million shares of BGC Class A common stock granted in connection with 0.1 million contingent share obligations and 0.2 million shares of BGC Class A common stock granted in connection with 0.3 million contingent share obligations, respectively. Because contingent share obligations were included in the Company’s fully diluted share count, if dilutive, settlement of contingent share obligations in connection with the issuance of BGC Class A common stock did not impact the fully diluted number of shares outstanding.
2Treasury stock repurchases include shares withheld for taxes on restricted stock vesting. See “Share Repurchase Program.”
Class B Common Stock
The Company did not issue any shares of BGC Class B common stock during both the three months ended March 31, 2026 and 2025. There were 109.5 million shares of BGC Class B common stock outstanding as of each of March 31, 2026 and 2025 and December 31, 2025.
Share Repurchase Program
The Company’s Board and Audit Committee have authorized repurchases of BGC Class A common stock or other equity interests in the Company’s subsidiaries. On July 1, 2023, the BGC Group Board and Audit Committee approved BGC Group’s Share Repurchase Authorization in an amount up to $400.0 million, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities. On October 30, 2024, the BGC Group Board and Audit Committee re-approved BGC Group’s Share Repurchase Authorization in an amount up to $400.0 million, which may include purchases from Cantor, its partners or employees or other affiliated persons or entities. On November 5, 2025, the BGC Group Board and Audit Committee re-approved BGC Group’s Share Repurchase Authorization in an amount up to $400.0 million, for which there is no expiration date. As of March 31, 2026, the Company had $386.9 million remaining from its Share Repurchase Authorization. From time to time, the Company may actively continue to repurchase shares.
The tables below represent the shares repurchased for cash or withheld to satisfy tax liabilities due upon the vesting of restricted stock. The share repurchases of BGC Class A common stock during the three months ended March 31, 2026 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Shares
Repurchased		Weighted-Average Price
Paid per Share
Approximate Dollar Value of Shares That Could Be 
Repurchased Under the Program at March 31, 2026
Repurchases1
January 1, 2026—January 31, 2026246 $9.17 
February 1, 2026—February 28, 2026— — 
March 1, 2026—March 31, 2026— — 
Total Repurchases246 $9.17 $386,920 
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1During the three months ended March 31, 2026, the Company repurchased 0.2 million shares of BGC Class A common stock for an aggregate price of $2.3 million, or $9.17 per share.
The share repurchases of BGC Class A common stock during the three months ended March 31, 2025 were as follows (in thousands, except for weighted-average price data):
Period
Total Number
of Shares
Repurchased
Weighted-Average Price
Paid per Share
Approximate Dollar Value of Shares That Could Be 
Repurchased Under the Program at March 31, 2025
Repurchases1,2
January 1, 2025—January 31, 20253,171 $9.36 
February 1, 2025—February 28, 2025— — 
March 1, 2025—March 31, 202513 9.35 
Total Repurchases3,184 $9.36 $326,899 

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1During the three months ended March 31, 2025, the Company repurchased 3.2 million shares of BGC Class A common stock for an aggregate price of $29.8 million at a weighted-average price of $9.36 per share. These repurchases include 0.7 million restricted shares vested but withheld described in the following footnote.
2The three months ended March 31, 2025 include an aggregate of 0.7 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock. The fair value of restricted shares vested but withheld to satisfy tax liabilities was $6.7 million at a weighted-average price of $9.06 per share. The average price paid per share for such share withholdings is based on the closing price per share on the vesting date of the restricted stock or, if such date is not a trading day, the trading day immediately prior to such vesting date.