Stephen M. Merkel - Jun 2, 2023 Form 4 Insider Report for BGC Partners, Inc. (BGCP)

Role
EVP and General Counsel
Signature
/s/ Stephen M. Merkel
Stock symbol
BGCP
Transactions as of
Jun 2, 2023
Transactions value $
-$631,500
Form type
4
Date filed
6/5/2023, 04:51 PM
Previous filing
May 22, 2023
Next filing
Jul 3, 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 Disposed to Issuer -$632K -150K -52.28% $4.21 137K Jun 2, 2023 Direct F1
holding BGCP Class A Common Stock, par value $0.01 per share 6.26K Jun 2, 2023 By various trusts F2
holding BGCP Class A Common Stock, par value $0.01 per share 42.4K Jun 2, 2023 By 401(k) Plan F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 2, 2023, the reporting person sold 150,000 shares of BGC Partners, Inc. (the "Company") Class A common stock, par value $0.01 per share ("Class A Common Stock"), to the Company in an exempt transaction made pursuant to Rule 16b-3 under the Securities Exchange Act of 1936, as amended. The sale price per share of $4.21 was the closing price of a share of Class A Common Stock on June 2, 2023. The transaction was approved by the Audit Committee and the Compensation Committee of the Board of Directors of the Company and was made pursuant to the Company's stock buyback authorization.
F2 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.
F3 Represents shares of Class A Common Stock held in the reporting person's 401(k) account as of April 30, 2023.