4 unchanged sentences
Our Board of Directors and our Audit Committee have authorized repurchases of our Class A common stock and redemptions of equity interests in our subsidiaries, including from Cantor, our executive officers, other employees, and others, including Cantor employees and partners.
−Removed: On July 1, 2023, the BGC Group Board approved BGC Group’s repurchase authorization in an amount up to $400.0 million.
+Added: On July 1, 2023, the BGC Group Board and Audit Committee approved BGC Group’s repurchase authorization in an amount up to $400.0 million.
+Added: 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.
As of December 31, 2024 we had approximately $350.0 million remaining under this authorization and may continue to actively make repurchases or purchases, or cease to make such repurchases or purchases, from time to time.
−Removed: The table below sets forth certain information regarding BGC’s purchases of its common stock during the fiscal quarter ended December 31, 2023;
+Added: The table below sets forth certain information regarding BGC’s repurchases of its common stock during the fiscal quarter ended December 31, 2024 (in thousands, except for price paid per share):
Period Total Number
10 unchanged sentences
Total Repurchases 6,369 $ 9.45 5,309 $ 350,000
−Removed: 1 Includes 1.0 million shares withheld to satisfy tax liabilities due upon the vesting of restricted stock.
−Removed: 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.
+Added: ____________________________________
+Added: 1 Includes an aggregate of $1.1 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 $10.2 million at a weighted-average price of $9.62 per share.
−Removed: 2 Represents shares available under a repurchase program authorized by the Board of Directors on July 1, 2023 up to an amount of $400.0 million for which there was no expiration date.
−Removed: Capital Deployment Priorities, Dividend Policy and Repurchase and Redemption Program
−Removed: BGC’s current capital allocation priorities are to use our liquidity to return capital to stockholders and to continue investing in its high growth Fenics businesses.
−Removed: BGC plans to prioritize share repurchases over dividends.
−Removed: We have repurchased or redeemed 24.7 million shares or units during the year ended December 31, 2023.
+Added: 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.
+Added: 2 Represents amount available under a repurchase program authorized by the Board and Audit Committee on October 30, 2024 up to an amount of $400.0 million for which there is no expiration date.
+Added: Capital Deployment Priorities, Dividend Policy and Repurchase Program
+Added: BGC’s current capital allocation priorities are to use our liquidity to return capital to stockholders and to continue investing in the growth of our business.
+Added: We have repurchased 36.2 million shares during the year ended December 31, 2024.
Any dividends, if and when declared by our Board, will be paid on a quarterly basis.
32 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.