v3.26.1
Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense
The Company incurred compensation expense related to Class A common stock and RSUs held by BGC employees, and grants of exchangeability to Newmark Holdings units held by BGC employees, as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Issuance of common stock and grants of exchangeability$31,130 $35,823 $62,326 $62,464 
Allocations of net income and dividend equivalents¹598 534 1,514 1,085 
RSU, RSU Tax Account, and restricted stock amortization43,829 47,569 95,158 95,700 
Equity-based compensation and allocations of net income to limited partnership units$75,557 $83,926 $158,998 $159,249 
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1This includes dividend equivalents on participating securities, the Preferred Return on certain RSU Tax Accounts, and quarterly allocations of net income, including the Preferred Distribution to Newmark Holdings Preferred Units held by BGC employees.
Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Issuance of common stock and grants of exchangeability$31,130 $35,823 $62,326 $62,464 
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
RSU amortization
$41,112 $42,189 $88,149 $81,846 
Schedule of Activity Associated with Limited Partnership Units Held by BGC Employees
A summary of the activity associated with Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
Newmark Holdings LPUs
Balance at December 31, 20252,140 
Granted— 
Redeemed/exchanged units(109)
Forfeited units(22)
Balance at June 30, 20262,009 
Schedule of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees
A summary of the Newmark Holdings LPUs held by BGC employees as of June 30, 2026 is as follows (in thousands):
Newmark Holdings LPUs
Regular Units1,339 
Preferred Units670 
Balance at June 30, 20262,009 
Schedule of Activity Associated with Limited Partnership Units Awarded to BGC Employees
A summary of the Newmark Holdings LPUs redeemed in connection with the issuance of Newmark Class A common stock (at the then-current Exchange Ratio) or granted exchangeability for Newmark Class A common stock (at the then-current Exchange Ratio) held by BGC employees is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Newmark Holdings LPUs43 49 76 148 
Schedule of Activity Associated with Restricted Stock Units
A summary of the activity associated with RSUs held by BGC employees and directors is as follows (RSUs and fair value amount in thousands, except for per share amounts and weighted-average term):
RSUs
Weighted-Average
Grant Date Fair Value
 Per Share
Fair Value AmountWeighted-Average Remaining
Contractual Term (Years)
Balance at December 31, 202577,643 $6.28 $487,312 3.84
Granted13,880 9.28 128,784 
Delivered(8,342)5.74 (47,847)
Forfeited(1,094)6.31 (6,907)
Balance at June 30, 202682,087 $6.84 $561,342 3.64
A summary of the activity associated with these restricted stock awards held by BGC employees is as follows (shares of restricted stock and fair value in thousands, except for per share amounts and weighted-average term):
Restricted Stock
Weighted-Average
Grant Date Fair Value Per Share
Fair Value AmountWeighted-Average Remaining
Contractual Term (Years)
Balance at December 31, 2025306 $4.43 $1,356 6.37
Granted— — — 
Delivered(10)4.43 (42)
Forfeited— — — 
Balance at June 30, 2026296 $4.43 $1,314 6.08