Newmark Announces Repurchase of Shares from Howard W. Lutnick
Deal News | May 19, 2025 | PR Newswire Cision Newmark Group, Inc.
Newmark Group, Inc., a leading commercial real estate services provider, has announced an agreement to repurchase approximately 11 million shares of its Class A common stock from the United States Secretary of Commerce, Howard W. Lutnick. This transaction, valued at $127.03 million based on a per-share price of $11.58, aligns with Lutnick's adherence to US government ethical guidelines. The company's CFO, Michael Rispoli, stated that this buyback offered a strategic opportunity to acquire a significant amount of shares at a favorable price, enhancing shareholder value and supporting continued growth. Additionally, Lutnick will transfer his Cantor Fitzgerald ownership to family trusts, with regulatory approvals expected in the third quarter of 2025. Cantor Fitzgerald remains Newmark's largest shareholder.
Sectors
- Commercial Real Estate
- Corporate Finance
Geography
- United States – The principal activities, participants, and regulatory environment described in the article pertain to the United States.
Industry
- Commercial Real Estate – The article centers around Newmark Group, Inc., a major player in commercial real estate services, demonstrating its continuing financial strategies and governance-related transactions.
- Corporate Finance – The focus on share buyback, investment strategies, and the transfer of holdings reflects critical aspects of corporate financial management, equity structuring, and shareholder transactions.
Financials
- $127,027,077 – The total purchase price for Newmark’s buyback of shares from Howard Lutnick.
- $11.58 – The per-share price Newmark paid, which was the closing price on May 16, 2025.
- $244.9 million – Remaining funds under Newmark's stock repurchase authorization after the current transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Newmark Group, Inc. | Bidding Company | Company | A leading commercial real estate firm engaged in repurchasing shares. |
| Howard W. Lutnick | Selling Company (Vendor) | Person | United States Secretary of Commerce divesting shares under ethics rules and former Executive Chairman of Newmark. |
| Cantor Fitzgerald | Controlling Shareholder | Company | Financial services firm that remains the largest shareholder of Newmark. |
| Michael Rispoli | CFO | Person | Newmark Group's Chief Financial Officer providing strategic insights into the transaction. |
| Kyle S. Lutnick | Trust Beneficiary | Person | Beneficiary of Cantor Fitzgerald ownership transfer. |
| Brandon G. Lutnick | Trustee and Beneficiary | Person | Controlling trustee and beneficiary of Cantor Fitzgerald ownership transfer. |