BGC repurchases 16.45M shares from Howard Lutnick; Lutnick transfers control to Brandon Lutnick trusts

BGC Group, Inc.

BGC repurchases 16,452,850 Class A shares from Howard Lutnick at $9.2082/share (3-day VWAP), for ~$151.5M total.
Lutnick sells 8,973,721 Class B shares to CFLP (Cantor Fitzgerald) at same price; closing after CFGM deal.
Howard Lutnick transfers his Cantor Fitzgerald (CFGM) voting control to trusts controlled by son Brandon Lutnick; closing expected Q3 2025 pending regulatory approvals.
BGC CFO Jason Hauf says repurchase demonstrates capital return commitment; company had record Q1 results and strong cash flow.
Howard Lutnick forgoes all economic benefits in BGC as of May 16, 2025, complying with U.S. government ethics rules.

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