Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
Sale of Class A Common Stock to the Company
On May 16, 2025, Mr. Howard W. Lutnick, the U.S. Secretary of
Commerce and the Company’s former Chief Executive Officer and former Chairman of the Board of Directors (the
“Board”), agreed to sell to BGC Group, Inc. (“BGC” or “the Company”) 16,452,850 shares of Class
A Common Stock beneficially owned by him, including (i) 5,616,612 shares held directly by Mr. Howard W. Lutnick, (ii)
10,489,582 shares held in his personal asset trust, (iii) 8,908 shares held by the Howard W. Lutnick Family Trust, and (iv) 337,748
shares originating from retirement accounts, including certain shares held by Mr. Howard W. Lutnick’s spouse. The
closing of the sale of the 16,115,102 shares held by him and the trusts will occur on May 19, 2025, and the closing of the sale of
337,748 shares held in retirement accounts will occur immediately after the closings of the sale of CFGM voting shares described
below. The price per share for the sales is $9.2082, which is equal to the 3-day volume weighted average price (“VWAP”)
of the Class A Common Stock on the Nasdaq Global Select Market on May 14, May 15 and May 16, 2025. The aggregate purchase price of
the retirement shares will be reduced by the after-tax portion of any dividends on such shares of Class A Common Stock paid to
Howard W. Lutnick and his spouse, in each case, between May 16, 2025 and the closing, as well as the after-tax portion of any
declared but unpaid dividends on such shares of Class A Common Stock with a record date prior to the closing that are payable.
The purchases are pursuant to the Company’s existing stock repurchase
authorization, most recently reapproved by the Board and by the Audit Committee of the Board (the “Audit Committee”) in October
2024, and the purchase of such shares from Mr. Howard W. Lutnick pursuant to such existing authorization was expressly approved by the
Audit Committee in connection therewith. The transaction was made pursuant to Mr. Howard W. Lutnick’s agreement to divest his interests
in the Company to comply with U.S. government ethics rules in connection with his appointment as the U.S. Secretary of Commerce.
Sale of Class B Common Stock to CFLP
On May 16, 2025, Howard W. Lutnick entered into an agreement
to sell to CFLP 8,973,721 shares of Class B common stock, par value $0.01 per share, of the Company held directly by him, which represents
all of the Class B shares of the Company held by him and approximately 6% of the total voting power of the outstanding common stock of
the Company as of May 16, 2025. Such sale shall be effective immediately after the closing of the sale of the CFGM voting shares described
in the following paragraph. The price per share for the sale is $9.2082, which is equal to the 3-day VWAP of the Class A Common Stock
on the Nasdaq Global Select Market on May 14, May 15 and May 16, 2025, and is expected to be paid using cash on hand at CFLP. The aggregate
purchase price will be reduced by the after-tax portion of any dividends on such shares of Class B Common Stock paid to Howard W. Lutnick
between the date of the purchase and sale agreement and the closing under the agreement, as well as any declared but unpaid dividends
on such shares of Class B Common Stock with a record date prior to the closing that are payable to Howard W. Lutnick.
Sale of CFGM Voting Shares to Trusts Controlled by
Brandon G. Lutnick
On May 16, 2025, Howard W. Lutnick, in his capacity as trustee
of a trust, entered into agreements to sell to trusts controlled by Brandon G. Lutnick all of the voting shares of CFGM, which is the
managing general partner of CFLP. CFGM, through its and CFLP’s ownership of shares of the Company’s common stock, controls
approximately 66% of the total voting power of the outstanding common stock of the Company as of May 16, 2025. Following the closing of
the transactions contemplated by such agreements, Brandon G. Lutnick will be deemed to have voting or dispositive power over the common
stock of the Company held by CFGM and CFLP, and Howard W. Lutnick will no longer have voting or dispositive power over such securities.
The closings of the transactions contemplated by such agreements are subject to the satisfaction of customary closing conditions, including
receipt of required regulatory approvals.
Sale of Other Interests to Trusts Controlled by Brandon
G. Lutnick
On May 16, 2025, Howard W. Lutnick, in his capacity as trustee
of a trust, entered into an agreement to sell to trusts controlled by Brandon G. Lutnick certain interests, including those in Tangible
Benefits, LLC and KBCR Management Partners, LLC, entities which hold shares of the Company. The closing of the transactions under such
agreements will occur concurrently with the closings of the sale of CFGM voting shares described above.
Company Press Release
The Company issued a press release regarding the transactions
described above. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Except as indicated in Item 5.01 of this Current Report on
Form 8-K, the information in this Item 7.01 and Exhibit 99.1 attached to this Current Report on Form 8-K is being furnished under Item
7.01 of Form 8-K. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific
reference in such filing and as indicated in Item 5.01 of this Current Report on Form 8-K.
Discussion of Forward-Looking Statements About BGC
Statements in this report and in Exhibit 99.1 to this report
regarding BGC that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could
cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s
business, results, financial position, liquidity and outlook, and the consummation of the transactions described in this report, which
may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what
is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion
of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements,
see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking
Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained
in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. 8