Just listened to the call. Boy it's tough to wade through the cash vs adjusted numbers.
FYI, on the broker compensation, a portion of the earnouts from businesses acquired were allocated by the sellers to people who were not "selling shareholders" (sounds like the owners gave a portion of the earnout to the rainmakers who otherwise weren't actually shareholders). As a result, they had to reallocate a portion of the earnout payments into compensation and that drove the number up to the very high levels you pointed out. It's why EBITDA margins were similar despite the higher comp number.
They still have a massive amount of earnout to pay during 1Q. They've sold the wholesale business to help fund it ($34m rev business with $5 EBITDA that they sold for $59m cash)
Free cash flow from operations is forecast at $165-195m for full year 2024. That will all go to earnouts I guess but those should largely be done in 2024.