Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2230

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 4
Chunk 2230
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 have earned $8,715.  See note 29 to our consolidated financial statements included in our Annual Report on Form 10-K.  

      57

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Operating Expenses 

﻿ 

Operating expenses increased by $3,770, or 5%, to $76,120 for the year ended December 31, 2023, as compared to $72,350 for the year ended December 31, 2022. As discussed in more detail below, the change was comprised of (i) an increase of $1,802 in compensation and benefits; (ii) an increase of $128 in business development, occupancy, and equipment; (iii) an increase of $691 in subscriptions, clearing, and execution; (iv) an increase of $1,143 in professional fee and other operating; and (v) an increase of $6 in depreciation and amortization.

﻿ 

Compensation and Benefits 

﻿ 

Compensation and benefits increased by $1,802, or 4%, to $52,092 for the year ended December 31, 2023, as compared to $50,290 for the year ended December 31, 2022. 

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      COMPENSATION AND BENEFITS 

      (Dollars in Thousands) 

      Year Ended December 31, 

      2023 

      2022 

      Change 

      Cash compensation and benefits 
      
     $
     47,701

     $
     45,900

     $
     1,801

      Equity-based compensation 

     4,391

     4,390

     1

      Total 
      
     $
     52,092

     $
     50,290

     $
     1,802

Cash compensation and benefits in the table above is primarily comprised of salary, incentive compensation, severance, employer portion of payroll taxes, and benefits.  Cash compensation and benefits increased by $1,801 to $47,701 for the year ended December 31, 2023, as compared to $45,900 for the year ended December 31, 2022.  Our headcount decreased to 118 as of December 31, 2023 from 121 as of December 31, 2022.  Cash compensation increased primarily due to an increase in