CF GROUP MANAGEMENT INC - 06 Oct 2025 Form 4 Insider Report for BGC Group, Inc. (BGC)

Role: Director, Managing General Partner CFLP, 10%+ Owner
Signature: /s/ Brandon G. Lutnick, Chief Executive Officer
Issuer symbol: BGC
Transactions as of: 06 Oct 2025
Transactions value $: $82,631,818
Form type: 4
Filing time: 06 Oct 2025, 18:08:02 UTC
Previous filing: 19 Feb 2025
Next filing: 19 Nov 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
CF GROUP MANAGEMENT INC	Director, Managing General Partner CFLP, 10%+ Owner	499 PARK AVENUE, NEW YORK	/s/ Brandon G. Lutnick, Chief Executive Officer	06 Oct 2025	0001251145

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BGC	Class B Common Stock, par value $0.01 per share	Purchase	$82.6M	+8.97M	+9.61%	$9.21	102M	06 Oct 2025	See footnote	F1, F2, F3
holding	BGC	Class B Common Stock, par value $0.01 per share						2.97M	06 Oct 2025	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On October 6, 2025, Cantor Fitzgerald, L.P. ("CFLP") closed the purchase of 8,973,721 shares of BGC Group, Inc. (the "Company") Class B common stock, par value $0.01 per share ("Class B Common Stock"), from Howard W. Lutnick. The price per share for the sale was $9.2082 (equal to the 3-day volume weighted average price of the Company's Class A common stock, par value $0.01 per share ("Class A Common Stock"), on the Nasdaq Global Select Market on May 14, May 15 and May 16, 2025), reduced by $0.032 per share, which is equal to the amount of the after-tax portion of the (i) dividends declared on such shares of Class B Common Stock but unpaid and with record dates between May 16, 2025 and the transaction date that are payable to Howard W. Lutnick, and (ii) dividends paid on such shares of Class B Common Stock to Howard W. Lutnick between May 16, 2025 and the transaction date.
F2	The shares of Class B Common Stock are convertible at any time on a one-for-one basis (subject to adjustment) into shares of Class A Common Stock.
F3	CF Group Management, Inc. ("CFGM") is the Managing General Partner of CFLP. CFGM disclaims beneficial ownership of all securities held by CFLP in excess of its pecuniary interest, if any, and this report shall not be deemed an admission that CFGM is the beneficial owner of, or has pecuniary interest in, any such excess securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.