Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 70

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 70
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 Weighted average common shares outstanding - Basic   1,740,855   1,630,861   1,728,557   1,609,384 
 Unrestricted LLC Units exchangeable into Cohen & Company Inc. shares (1)   4,128,423   4,062,497   4,121,098   4,060,126 
 Restricted units or shares   162,447   97,498   82,978   57,627 
 Weighted average common shares outstanding - Diluted (3)   6,031,725   5,790,856   5,932,633   5,727,137 
                 
 Net income / (loss) per common share - Basic  $2.64  $1.32  $3.66  $1.13 
                 
 Net income / (loss) per common share - Diluted  $2.58  $1.31  $3.61  $1.12 

    (1)  The units of membership interests in the Operating LLC (“LLC Units”) 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 LLC Units 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 LLC Units are not included in the computation of basic earnings per share.  These LLC 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, as applicable, if the LLC Units