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BCS

Current Report · Items 5.01, 7.01, 9.01 · 8-K

BGC Group, Inc.

BGCNASDAQEQUITYCurrent

Changes in Control of Registrant · Regulation FD Disclosure

Item 5.01 Changes in Control of Registrant. The information required by Item 403(c) of Regulation S-K contained under the heading “Sale of CFGM Voting Shares to Trusts Controlled by Brandon G. Lutnick” in Item 7.01 of this Current Report on Form 8-K is hereby incorporated by reference to this item 5.01.

Filed May 19, 2025Accepted May 19, 2025, 9:08 AM EDTCIK 1094831Accession 0001213900-25-045119
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Company context

BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace, data, and financial technology services company for a broad range of products, including fixed income, foreign exchange, energy, commodities, shipping, equities, and now includes the FMX Futures Exchange. BGC’s clients are many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms.

Current securities

Recent company filings

  1. Regulation FD DisclosureSep 28, 2026
  2. 4 filingAug 31, 2026
  3. 10-Q filingAug 10, 2026
  4. Results of Operations and Financial ConditionJul 30, 2026
  5. 11-K filingJun 29, 2026

Disclosure sections

Items 5.01, 7.01, 9.01

Select an item to read the extracted section. The as-filed document remains the primary evidence.

Item 5.01Item 5.01 - Changes in Control
Item 5.01 Changes in Control of Registrant. The information required by Item 403(c) of Regulation S-K contained under the heading “Sale of CFGM Voting Shares to Trusts Controlled by Brandon G. Lutnick” in Item 7.01 of this Current Report on Form 8-K is hereby incorporated by reference to this item 5.01.
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
Filed exhibits (1)
EX-99.1 (by filename) ea024268501ex99-1_bgc.htm

EX-99.1 2 ea024268501ex99-1_bgc.htm BGC GROUP, INC. PRESS RELEASE DATED MAY 19, 2025 Exhibit 99.1 BGC announces repurchase of more than 16.4 million shares from Howard W. Lutnick, United States Secretary of Commerce, the Company’s former Chairman and CEO United States Secretary of Commerce Howard W. Lutnick divesting his interests in BGC pursuant to U.S. government ethics rules NEW YORK - May 19, 2025 - BGC Group, Inc. (Nasdaq: BGC) (“BGC” or the “Company”), a leading global brokerage and financial technology company, today announced it has agreed to repurchase 16,452,850 shares of BGC Class A common stock beneficially owned by Howard W. Lutnick, United States Secretary of Commerce, the Company’s former Chairman and Chief Executive Officer. The Company agreed to repurchase the shares at $9.2082 per share, which is equal to the volume weighted average price (VWAP) of the Class A common stock on the Nasdaq Global Select Market on May 14th, 15th, and 16th, 2025. The aggregate purchase price to be paid by the Company is $151,501,133. The sale is made in furtherance of Mr. Lutnick’s U.S. government ethics agreement. “Repurchasing more than 16.4 million of our shares demonstrate…

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