Newmark completes Lutnick divestiture

Newmark Group Inc. (NASDAQ: NMRK) announced the completion of former Executive Chairman Howard W. Lutnick's divestiture of his company holdings in connection with his appointment as U.S. Secretary of Commerce.

The transactions, which closed October 6, 2025, were previously announced in May 2025. Lutnick no longer holds voting or dispositive power over any company securities and filed an amendment reflecting zero ownership.

The divestiture involved three main transactions. Trusts controlled by Brandon G. Lutnick purchased all voting shares of CF Group Management Inc., the managing general partner of Cantor Fitzgerald L.P., from Howard Lutnick for $200,000.

Additional trusts controlled by Brandon Lutnick acquired certain interests from Howard Lutnick, including equity interests in Tangible Benefits LLC and KBCR Management Partners LLC, both of which hold Newmark shares. The aggregate purchase price was $13,096,795.70.

Newmark repurchased 129,859 shares of Class A common stock from Howard Lutnick at $11.58 per share, minus $0.06 per share for after-tax dividends. The company also repurchased 4,400 shares held by Lutnick's spouse at $11.04 per share, minus $0.048 per share for after-tax dividends. The repurchases were made under the company's existing stock repurchase authorization approved by the board and audit committee in November 2024.

Following the transactions, Brandon G. Lutnick holds beneficial ownership of 22.3% of outstanding common stock, representing 58.6% of total voting power. Howard Lutnick no longer maintains beneficial ownership of any company securities.

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