Company: COHN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-035625
Chunk: 92

Company: Cohen & Co Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 92
---
 by Mr. Cohen in connection with the vesting, on January 31, 2025, of 1,011,001 restricted LLC Units which had been previously granted to Mr. Cohen under the 2020 Long-Term Incentive Plan. On February 5, 2025, Lester Brafman, the Company’s Chief Executive Officer, redeemed 502,053 LLC Units for which the Company paid to Mr. Cohen an aggregate of $498, or $0.991 per LLC Unit. The LLC Units were so redeemed by Mr. Brafman in order to fund certain tax liabilities incurred by Mr. Brafman in connection with the vesting, on January 31, 2025, of 610,996 restricted LLC Units and 40,000 restricted shares of the Company’s common stock, all of which had been previously granted to Mr. Brafman under the 2020 Long-Term Incentive Plan. Solomon Cohen & Vellar Opportunities GP LLC Solomon Cohen has been identified as a related party because he is the son of Daniel G. Cohen. On February 25, 2025, Cohen & Company, LLC entered into (i) a Limited Liability Company Interest Purchase Agreement with Solomon Cohen and Jason Capone (the “Vellar Purchase Agreement”); and (ii) a Transition Services Agreement (the “Vellar Transition Services Agreement” and, together with the Vellar Purchase Agreement, the “Vellar Agreements”) with Vellar Opportunities GP LLC, a Delaware limited liability company (“Vellar GP”). Prior to entering into the Vellar Agreements, Cohen & Company, LLC was the managing member and owner of 33.4% of Vellar GP and each of Solomon Cohen and Jason Capone was the owner of 33.3% of Vellar GP. The Vellar GP is the general partner of Vellar Opportunities Fund, LP (the “Onshore Feeder”) and Cohen & Company Financial Management, LLC was the investment manager of the Onshore Feeder as well as the Vellar Opportunities Fund Offshore, Ltd (the “Offshore Feeder” collectively with the Onshore Feeder, the “Feeder Funds”) and Vellar Opportunities Fund Master, Ltd. (the “Vellar Master Fund”), an investment fund which primarily invested in the equity interests of SPACs and, in certain circumstances, SPAC sponsor entities, including SPACs sponsored by Cohen & Company, LLC, Cohen Circle, LLC (formerly FinTech Masala, LLC ) (