Stephen M. Merkel - May 18, 2023 Form 4 Insider Report for BGC Partners, Inc. (BGCP)

Signature
/s/ Stephen M. Merkel
Stock symbol
BGCP
Transactions as of
May 18, 2023
Transactions value $
-$277,070
Form type
4
Date filed
5/22/2023, 04:07 PM
Previous filing
Dec 23, 2021
Next filing
Jun 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BGCP Class A Common Stock, par value $0.01 per share Award +257K +283.99% 347K May 18, 2023 Direct F1
transaction BGCP Class A Common Stock, par value $0.01 per share Tax liability -$277K -60.1K -17.32% $4.61 287K May 18, 2023 Direct F2
holding BGCP Class A Common Stock, par value $0.01 per share 6.26K May 18, 2023 By various trusts F3
holding BGCP Class A Common Stock, par value $0.01 per share 42.4K May 18, 2023 By 401(k) Plan F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 18, 2023, BGC Partners, Inc. (the "Company") granted to the reporting person 256,627 shares of its Class A Common Stock, par value $0.01 per share (the "Class A Common Stock"), following the redemption of 256,627 non-exchangeable limited partnership interests of BGC Holdings, L.P. for zero. The grant was approved by the Compensation Committee of the Board of Directors of the Company and was exempt pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The transaction described in this footnote (1) was made in connection with the Company's corporate conversion transaction.
F2 In connection with the transaction described in footnote (1) above, the reporting person surrendered to the Company an aggregate of 60,102 shares of Class A Common Stock in a transaction exempt pursuant to Rule 16b-3 under the Exchange Act to pay taxes.
F3 Represents shares of Class A Common Stock of the Company held in trusts for the benefit of the reporting person's immediate family, of which the reporting person's spouse is the sole trustee of each trust.
F4 Represents shares of Class A Common Stock held in the reporting person's 401(k) account as of April 30, 2023.