In addition, for Mr. Lutnick, column (e) does not include the BGC Holdings NPSUs
granted to him in 2015 and 2016, 2,000,000 and 750,000, respectively, because NPSUs do not represent a right to acquire shares of Class A common stock and they had no grant date fair value for accounting purposes.
Of the 2,000,000 BGC Holdings NPSUs granted to Mr. Lutnick in 2014, (i) 1,000,000 were in 2015 replaced by a total of 550,000
non-exchangeable
BGC Holdings PSUs and 450,000
non-exchangeable
BGC Holdings PPSUs; and (ii) 500,000 were in 2016 replaced by 360,000
non-exchangeable
BGC Holdings PSUs and 140,000
non-exchangeable
BGC Holdings PPSUs.
Of the 2,000,000 BGC Holdings NPSUs granted to Mr. Lutnick in 2015, (i) in 2016, 500,000 were replaced by 275,000
non-exchangeable
BGC Holdings PSUs and 225,000
non-exchangeable
BGC Holdings PPSUs, and (ii) in 2017, 500,000 were replaced by 360,000
non-exchangeable
BGC Holdings PSUs and 140,000
non-exchangeable
BGC Holdings PPSUs.
Of the 750,000 BGC Holdings NPSUs granted to Mr. Lutnick in 2016, in 2017, 187,500 were replaced by 135,000
non-exchangeable
BGC Holdings PSUs and 52,500
non-exchangeable
BGC Holdings PPSUs.
On February 16, 2018, pursuant to the BGCs standing policy for Mr. Lutnick, all of Mr. Lutnicks remaining BGC
Holdings NPSUs were cancelled and replaced with BGC Holdings PSUs and BGC Holdings PPSUs as follows: 568,813
non-exchangeable
BGC Holdings PSUs and 237,248
non-exchangeable
BGC Holdings PPSUs, in replacement of 806,061 BGC Holdings NPSUs, effective as of January 1, 2018. With respect to the replacement of BGC Holdings NPSUs in 2018, such replacement also
applied to the ratable portion of the Newmark Holdings interests or units held in association with such replaced BGC Holdings NPSUs.
Column
(e) also does not include the fair value of grants of exchange rights to Mr. Lutnick in February 2016 with respect to 520,380 BGC Holdings PSUs and 425,765 BGC Holdings PPSUs, pursuant to the standing policy because each of those PSUs and
PPSUs was originally granted to Mr. Lutnick in partial payment of bonuses awarded to him under the BGC Incentive Plan for prior years and reflected in column (g) of the table for each of those prior years at their full notional dollar
values. See Compensation Discussion and AnalysisNPSU Grants and Related Replacement and Exchange Right Grants.
(5)
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For Mr. Gosin, column (e) does not include any of the following units, because these units had been
previously granted in partial payment of prior years annual bonuses, commissions or base salary as
non-exchangeable
awards that would have been reported at full notional value, if we had been a reporting
company at the time such bonuses were paid in the form of these units: (i) in March 2015, 16,868 BGC Holdings APSUs and 169,811 BGC Holdings PSUs were made exchangeable, (ii) in April 2015, 6,808 BGC Holdings APSUs, 29,696 BGC Holdings
PSUs and 24,014 BGC Holdings PPSUs were made exchangeable, (iii) in August 2015, 276,706 BGC Holdings PSUs and 13,482 BGC Holdings APSUs were made exchangeable, (iv) in December 2015, 6,927 BGC Holdings APSUs were made exchangeable,
(v) in March 2016, 254,250 BGC Holdings PSUs were made exchangeable, (vi) in April 2016, 11,114 BGC Holdings APSUs and 1,079 BGC Holdings PSUs were made exchangeable, (vii) in May 2016, 69,517 BGC Holdings PSUs and 56,877 BGC Holdings
PPSUs were made exchangeable, (viii) in October 2016, 593,869 BGC Holdings PSUs were made exchangeable; (ix) in November 2016, 33,386 BGC Holdings APSUs were made exchangeable; and (x) in March 2018, 52,293 BGC Holdings APSUs,
1,146,696 BGC Holdings PSUs and 51,011 BGC Holdings PPSUs were made exchangeable. With respect to the grant of exchangeability that occurred in 2018, such grant of exchangeability also applied to the ratable portion of the Newmark Holdings interests
or units held in association with such
non-exchangeable
BGC Holdings APSUs, BGC Holdings PSUs and BGC Holdings PPSUs, as applicable.
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For Mr. Gosin, column (e) also does not include the fair value of the 642,261
non-exchangeable
Newmark Holdings PSUs which on March 12, 2018 were redeemed and cancelled in exchange for issuing to Mr. Gosin $10.0 million of Newmarks Class A common stock, less applicable taxes and withholdings, based on the price of
$15.57 per share, which was the closing price of our Class A common stock on that date, resulting in the issuance to Mr. Gosin of 327,746 shares of our Class A common stock, because the value of such Newmark Holdings PSUs were
reported at full notional value for 2015.
(6)
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For Mr. Ficarro, column (e) does not include any of the following units, because these units had
previously been granted in partial payment of prior years annual bonuses that would have been reported at full notional value, if we had been a reporting company at the time such bonuses were paid in the form of these units: (i) on
April 22, 2015, 16,736 BGC Holdings NPPSUs were made exchangeable, (ii) on April 13, 2015, 4,163 BGC Holdings PSUs and 3,046 BGC Holdings PPSUs were made exchangeable, (iii) on May 2, 2016, 7,177 BGC Holdings PSUs and 4,765
BGC Holdings PPSUs were made exchangeable, (iv) on March 21, 2017, 15,586 BGC Holdings PSUs and 12,752 BGC Holdings PPSUs were made exchangeable, (v) on April 24, 2017, 12,373 BGC Holdings PSUs and 10,123 BGC Holdings PPSUs were
made exchangeable, and (vi) on April 2, 2018, 31,846
non-exchangeable
BGC Holdings PSUs, and 25,214
non-exchangeable
BGC Holdings PPSUs, of which 9,200 BGC
Holdings PPSUs have a determination price of $6.05 per unit and 16,140 BGC Holdings PPSUs have a determination price of $11.40 per unit, were made exchangeable.
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For Mr. Ficarro, of the 81,818 BGC Holdings NPSUs granted to him in 2014, in 2015, 20,454 BGC Holdings NPSUs were made exchangeable.
Mr. Ficarro also has 20,455 BGC Holdings NPSUs and 16,736 BGC Holdings NPPSUs (which have a preferred value of $101,250) that were awarded
in 2015 and vested into BGC Holdings PSUs and BGC Holdings PPSUs as of April 1, 2018. The vesting of such BGC Holdings NPSUs and BGC Holdings NPPSUs also applied to the ratable portion of the Newmark Holdings interests or units held in
association with such
non-exchangeable
BGC Holdings NPSUs and BGC Holdings NPPSUs, as applicable.
(7)
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For Mr. Rispoli, column (e) does not include any of the following units, because these units had
previously been granted in partial payment of prior years annual bonuses that would have been reported at full notional value, if we had been a reporting company at the
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