Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1453

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 1453
---
uted (3) 
        
       $
       (0.08
       )
        
       $
       (3.38
       )
        
       $
       (9.43
       )

       (1) 
       The Operating LLC units of membership interests not held by Cohen & Company Inc. (that is, those held by the non-controlling interest)  may be redeemed and exchanged into shares of the Company on a ten-for-one basis. The Operating LLC units of membership interests not held by Cohen & Company Inc. are redeemable, at the member’s option at any time, for (i) cash in an amount equal to the average of the per share closing prices of the Common Stock for the ten consecutive trading days immediately preceding the date the Company receives the member’s redemption notice, or (ii) at the Company’s option, one tenth of a share of the Common Stock, subject, in each case, to appropriate adjustment upon the occurrence of an issuance of additional shares of the Common Stock as a dividend or other distribution on the outstanding Common Stock, or a further subdivision or combination of the outstanding shares of the  Common Stock. These units are not included in the computation of basic earnings per share. These units enter into the computation of diluted net income (loss) per common share when the effect is not anti-dilutive using the if-converted method. 

      (2)
       An adjustment is included because the Company would have incurred a higher income tax expense or realized a higher income tax benefit if the Operating LLC units of membership interests had been converted at the beginning of the period. 

       (3) 
       Potentially diluted securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:     

        Year Ended December 31, 

        2024 

        2023 

        2022 

        2017 Convertible Note 

       -

       -

       224,138

        Restricted Common Stock 

       59,655

       9,060

       18,182

        Restricted Operating LLC units 

       22,977

       4,010,179

       3,735,004

       82,632

       4,019,239

       3,977,324

       F-
       68

   27. RESERVE REQUIREMENTS 
   ﻿ 
   As of  December 31, 2024 and