Lester Raymond Brafman - 19 Dec 2025 Form 4 Insider Report for Cohen & Co Inc. (COHN)

Role: Chief Executive Officer
Signature: /s/ Joseph W. Pooler, Jr., as attorney-in-fact
Issuer symbol: COHN
Transactions as of: 19 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 19 Dec 2025, 09:13:44 UTC
Previous filing: 05 Feb 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Brafman Lester Raymond	Chief Executive Officer	C/O COHEN & CO INC.,, 2929 ARCH STREET, SUITE 1703, PHILADELPHIA	/s/ Joseph W. Pooler, Jr., as attorney-in-fact	19 Dec 2025	0001578554

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	COHN	Common Stock, par value $0.01 per share						315,702	19 Dec 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	COHN	Cohen & Company, LLC Membership Units	Award	$0	+211,000	+15%	$0.000000	1,599,316	19 Dec 2025	Common Stock, par value $0.01 per share	21,100		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Mr. Brafman was awarded 211,000 restricted membership units ("Units") in Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), under the Company's 2020 Long-Term Incentive Plan, as amended. The restrictions expire with respect to one-third of the Units on each of January 31, 2027, January 31, 2028 and January 31, 2029. Following the expiration of the restrictions on the applicable Units, Mr. Brafman may cause the Operating LLC to redeem such Units at any time thereafter for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Content

Mr. Brafman was awarded 211,000 restricted membership units ("Units") in Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), under the Company's 2020 Long-Term Incentive Plan, as amended. The restrictions expire with respect to one-third of the Units on each of January 31, 2027, January 31, 2028 and January 31, 2029. Following the expiration of the restrictions on the applicable Units, Mr. Brafman may cause the Operating LLC to redeem such Units at any time thereafter for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.