Newmark Announces Repurchase of Approximately 11 Million Shares from Howard W. Lutnick, United States Secretary of Commerce, Former Executive Chairman
Newmark Group (NASDAQ: NMRK) has announced a significant share repurchase agreement with Howard W. Lutnick, the current U.S. Secretary of Commerce and former Executive Chairman. The company will repurchase 10,969,523 shares of Class A common stock at $11.58 per share, totaling $127 million. This transaction is part of Lutnick's compliance with U.S. government ethics rules.
The repurchase will be executed under Newmark's existing stock repurchase authorization, leaving $244.9 million remaining. Additionally, Lutnick will transfer his Cantor Fitzgerald ownership to trusts benefiting his children, with Brandon G. Lutnick as the controlling trustee. The majority of shares (10,839,674) will close immediately, while 129,849 shares held in retirement accounts will close after the Cantor Fitzgerald transactions in Q3 2025.
Newmark Group (NASDAQ: NMRK) ha annunciato un importante accordo di riacquisto di azioni con Howard W. Lutnick, attuale Segretario al Commercio degli Stati Uniti ed ex Presidente Esecutivo. La società riacquisterà 10.969.523 azioni di azioni ordinarie di Classe A al prezzo di 11,58 dollari per azione, per un totale di 127 milioni di dollari. Questa operazione fa parte del rispetto da parte di Lutnick delle norme etiche del governo statunitense.
Il riacquisto sarà effettuato nell'ambito dell'autorizzazione esistente di Newmark per il riacquisto di azioni, lasciando un saldo residuo di 244,9 milioni di dollari. Inoltre, Lutnick trasferirà la sua partecipazione in Cantor Fitzgerald a trust a beneficio dei suoi figli, con Brandon G. Lutnick come trustee controllante. La maggior parte delle azioni (10.839.674) sarà chiusa immediatamente, mentre 129.849 azioni detenute in conti pensionistici saranno chiuse dopo le operazioni su Cantor Fitzgerald nel terzo trimestre del 2025.
Newmark Group (NASDAQ: NMRK) ha anunciado un acuerdo significativo de recompra de acciones con Howard W. Lutnick, actual Secretario de Comercio de EE. UU. y ex Presidente Ejecutivo. La compañía recomprará 10,969,523 acciones de acciones comunes Clase A a $11.58 por acción, por un total de $127 millones. Esta transacción forma parte del cumplimiento de Lutnick con las normas éticas del gobierno estadounidense.
La recompra se realizará bajo la autorización existente de recompra de acciones de Newmark, dejando un saldo restante de $244.9 millones. Además, Lutnick transferirá su propiedad en Cantor Fitzgerald a fideicomisos en beneficio de sus hijos, con Brandon G. Lutnick como fideicomisario controlador. La mayoría de las acciones (10,839,674) se cerrarán de inmediato, mientras que 129,849 acciones mantenidas en cuentas de retiro se cerrarán después de las transacciones de Cantor Fitzgerald en el tercer trimestre de 2025.
Newmark Group (NASDAQ: NMRK)는 현재 미국 상무장관이자 전 집행 의장인 Howard W. Lutnick과 중요한 자사주 매입 계약을 발표했습니다. 회사는 10,969,523주의 클래스 A 보통주를 주당 11.58달러에 총 1억 2,700만 달러에 매입할 예정입니다. 이 거래는 Lutnick이 미국 정부 윤리 규정을 준수하기 위한 조치의 일환입니다.
이번 매입은 Newmark의 기존 자사주 매입 승인 하에 진행되며, 2억 4,490만 달러의 잔액이 남게 됩니다. 또한 Lutnick은 Cantor Fitzgerald 소유권을 자녀들을 위한 신탁으로 이전하며, Brandon G. Lutnick이 관리 신탁인이 됩니다. 대부분의 주식(10,839,674주)은 즉시 종료되며, 129,849주는 퇴직 계좌에 보유되어 2025년 3분기 Cantor Fitzgerald 거래 후 종료됩니다.
Newmark Group (NASDAQ : NMRK) a annoncé un accord important de rachat d’actions avec Howard W. Lutnick, l’actuel Secrétaire au Commerce des États-Unis et ancien Président exécutif. La société rachètera 10 969 523 actions ordinaires de Classe A au prix de 11,58 $ par action, pour un total de 127 millions de dollars. Cette transaction fait partie de la conformité de Lutnick aux règles éthiques du gouvernement américain.
Le rachat sera effectué dans le cadre de l’autorisation existante de rachat d’actions de Newmark, laissant un solde restant de 244,9 millions de dollars. De plus, Lutnick transférera sa participation dans Cantor Fitzgerald à des trusts au bénéfice de ses enfants, avec Brandon G. Lutnick en tant que fiduciaire contrôlant. La majorité des actions (10 839 674) sera clôturée immédiatement, tandis que 129 849 actions détenues dans des comptes de retraite seront clôturées après les transactions Cantor Fitzgerald au troisième trimestre 2025.
Newmark Group (NASDAQ: NMRK) hat eine bedeutende Aktienrückkaufvereinbarung mit Howard W. Lutnick, dem aktuellen US-Handelsminister und ehemaligen Executive Chairman, bekannt gegeben. Das Unternehmen wird 10.969.523 Aktien der Klasse A zum Preis von 11,58 USD pro Aktie zurückkaufen, was insgesamt 127 Millionen USD entspricht. Diese Transaktion ist Teil von Lutnicks Einhaltung der Ethikregeln der US-Regierung.
Der Rückkauf wird im Rahmen der bestehenden Aktienrückkaufgenehmigung von Newmark durchgeführt, wobei ein Restbetrag von 244,9 Millionen USD verbleibt. Zusätzlich wird Lutnick seine Cantor Fitzgerald-Anteile an Trusts übertragen, die seinen Kindern zugutekommen, wobei Brandon G. Lutnick als kontrollierender Treuhänder fungiert. Die Mehrheit der Aktien (10.839.674) wird sofort abgeschlossen, während 129.849 Aktien, die in Rentenkonten gehalten werden, nach den Cantor Fitzgerald-Transaktionen im dritten Quartal 2025 abgeschlossen werden.
- Efficient acquisition of substantial shares at favorable price
- Strong expected cash generation to support future growth and shareholder returns
- $244.9 million remaining in share repurchase authorization
- Cantor Fitzgerald remains largest controlling shareholder, maintaining stability
- Loss of experienced Executive Chairman leadership
- Significant cash outlay of $127 million for share repurchase
Insights
Newmark's $127M repurchase of 11M shares from former Executive Chairman at market price is strategically neutral but demonstrates confidence in financial position.
Newmark's repurchase of nearly 11 million shares from Howard Lutnick at
This repurchase will reduce Newmark's outstanding share count by approximately
The CFO's statement indicates the company views this as an efficient way to acquire shares at a "favorable price" while maintaining the ability to invest in growth and continue future repurchases. This signals management confidence in Newmark's cash generation capabilities and financial flexibility.
The broader context here is important - this transaction is being executed because Lutnick must divest his interests due to his government position as Commerce Secretary, not because of any fundamental company issue. The controlling interest in Newmark will remain with Cantor Fitzgerald, maintaining the existing governance structure despite Lutnick's personal divestiture. From a market stability perspective, this structured transaction is preferable to having these shares sold on the open market, which could have created downward pressure on the stock price.
The aggregate purchase price to be paid by Newmark is
Newmark's Chief Financial Officer, Michael Rispoli, said: "This transaction presented a unique opportunity to efficiently acquire a substantial number of shares at what we believe was a favorable price. Given our expected strong cash generation, we anticipate continuing to invest in the Company's growth, while also returning capital to shareholders through repurchases over time."1
Additionally, Mr. Lutnick has agreed to transfer his Cantor Fitzgerald ownership to trusts for the benefit of Kyle S. Lutnick, Cantor Fitzgerald Executive Vice Chairman, and Brandon G. Lutnick, Cantor Fitzgerald Chairman & CEO, and his other adult children. Mr. Brandon Lutnick is the controlling trustee of such trusts. The closing of the Cantor Fitzgerald transactions will occur after receipt of all required regulatory approvals, expected in the third quarter of 2025.
The sale of 10,839,674 shares will close today, and the sale of 129,849 shares held in retirement accounts will close immediately after the Cantor Fitzgerald transactions.
Mr. Lutnick has entered into agreements to forgo all economic benefits in Newmark as of May 16, 2025. These transactions divest his ownership, voting, and economic interests in the Company, complying with Mr. Lutnick's
Cantor Fitzgerald will continue to be Newmark's largest and controlling shareholder.
More details relating to the divestiture transactions can be found in Forms 8-K and 13D to be filed with the SEC.
ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ending March 31, 2025, Newmark generated revenues of over
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark 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, 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, Newmark 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 Newmark'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.
1 Please note the following: "Capital returns", "cash returned to shareholders", or similar terms, when discussed, include share or unit repurchases, dividends, and distributions. Dividends and distributions include dividends to common stockholders, as well as earnings distributions to partners.
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SOURCE Newmark Group, Inc.
FAQ
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