BGC Group, Inc. (Nasdaq: BGC), a world brokerage and financial technology company, announced today that it has agreed to repurchase 16,452,850 shares of BGC Class A, the former president of the company and the executive official.
The company has agreed to repurchase the shares to $ 9,2082 per share, which is equal to the average price of the VWAP of the Class A shares in the Nasdaq Global Select market on 14, 15 and 16, 2025.
“The acquisition of more than 16.4 million of our shares proves our commitment to the return of capital shareholders,” said Jason Hauf, chief financial director of BGC. “Given the results of the first quarter and the expected strong cash flow production this year this year, we believe that buying our shares in this extremely effective way is a great use of our capital that offers strong value creation to our shareholders.”
In addition, Mr Lutnick agreed to convey his interest in his ownership of Cantor Fitzgerald in confidence for the benefit of Brandon G. Lutnick, President and CEO of Cantor Fitzgerald, Kyle S. Lutnick, Executive Vice President Cantor Fitzgerald and other adulteers. Mr Brandon Lutnick is the controlled manager of such trust. The closure of the Cantor Fitzgerald transactions will take place after receipt of all required regulatory approvals, expected in the third quarter of 2025.
The sale of 16,115,102 shares will be closed today and the sale of 337,748 shares held in retirement accounts will be closed immediately after the Cantor Fitzgerald transactions.
In addition, Mr Lutnick concluded an agreement on the sale of the BGC Class B shares at Cantor Fitzgerald, which will close shortly after the Cantor Fitzgerald transactions.
Mr Lutnick has concluded agreements to resign from all the financial benefits to the BGC since May 16, 2025.
Cantor Fitzgerald will continue to be BGC’s largest shareholder.