SEC Form 4 · accession 0001437749-16-026225
BGC Group, Inc. · BGC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Howard W Lutnick
Officer — Chairman and CEO · Director · 10% Owner
Period of report
Feb 24, 2016
Accepted (ET)
Feb 26, 2016 · 6:50 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001094831
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BGC Holdings Exchangeable PSU Limited Partnership InterestsF1 | — | Feb 24, 2016 | A | 1,040,760 | A | — | — | Class A Common Stock, par value $0.01 per share | 1,040,760 | 1,040,760 | D |
| BGC Holdings Exchangeable PPSU Limited Partnership InterestsF1 | — | Feb 24, 2016 | A | 851,531 | A | — | — | Class A Common Stock, par value $0.01 per share | 851,531 | 851,531 | D |
Explanation of responses
- F1On February 24, 2016, the reporting person was granted 1,040,760 exchange rights with respect to 1,040,760 non-exchangeable PSU limited partnership interests in BGC Holdings, L.P. ("BGC Holdings") and 851,531 exchange rights with respect to 851,531 non-exchangeable PPSU limited partnership interests in BGC Holdings. The resulting 1,040,760 exchangeable PSU limited partnership interests in BGC Holdings and the 851,531 exchangeable PPSU limited partnership interests in BGC Holdings are exchangeable by the reporting person at any time for shares of Class A common stock, par value $0.01 per share (the "Class A Common Stock") of BGC Partners, Inc. (the "Company") on a one-for-one basis (subject to adjustment). These grants of exchange rights with respect to such limited partnership interests do not impact the fully-diluted share count of the Company and the reporting person does not currently expect to exchange such limited partnership interests.