Company: COHN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-035625
Chunk: 39

Company: Cohen & Co Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 39
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 “JKD Investment Agreement”) with JKD Capital Partners I LTD into a promissory note and repaid one-third, or $2.6 million, in cash. In December 2024, the Board of Directors, upon the Compensation Committee’s recommendation, unanimously approved the compensation for each executive officer for 2024. In March 2023, after consulting with Mr. Brafman, the Compensation Committee determined that 2023 incentive plan compensation target equity and cash bonus amounts, based on the company’s performance would be at the Compensation Committee’s discretion in light of the state of the turbulent markets, considering both qualitative and quantitative achievements during the year. Subject to the Compensation Committee’s review of the Company’s performance in general, and at the Compensation Committee’s discretion, cash and equity bonuses would be determined by the Compensation Committee. No executive officer, other than Mr. Brafman, had any role in determining or recommending the amount or form of 2023 executive officer compensation. As reflected under the “Bonus” column in the Summary Compensation Table above, Messrs. Brafman, Cohen, and Pooler were awarded performance-based cash bonus awards in the amounts of $1,166,000, $1,166,000, and $437,800, respectively, in 2023. In addition, Messrs. Brafman, Cohen, and Pooler were awarded performance-based equity bonus awards in the amounts of $142,847, $142,847, and $104,935, respectively, on December 21, 2023, for their performance in 2023. 21

TABLE OF CONTENTS In determining such performance-based bonuses, the Compensation Committee considered qualitative and quantitative achievements such as Messrs. Brafman’s, Cohen’s and Pooler’s respective roles during 2023 in connection with the following: • Generating adjusted pre-tax income of $16.0 million in the fourth quarter of 2023, despite the negative effects of the high interest rate environment on the investment banking, trading, and commercial real estate businesses during most of 2023, thereby reducing the full year adjusted pre-tax loss to $3.6 million and ending the year with some operating momentum heading into 2024; • Continuing to build out the Cohen & Company Capital Markets (“CCCM”) investment banking group, including growing the department to 24 employees. CCCM had revenue of $26.2 million from 15 client engagements in 2023, and continues to grow market share as an advisor and