Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 229

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 229
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 conditions of the Equity Agreement.
    
   No shares were sold under the Equity Distribution Agreement during 2025. During the three and nine months ended  September 30, 2024, the Company sold 0 and 13,500 shares of Common Stock, respectively, in the open market pursuant to the Equity Agreement for a total net sale price of $0 and $154, respectively.
    
   Detail of Non-Controlling Interest 
    
   The Company has two major categories of non-controlling interest.  Convertible non-controlling interest represents the portion of the Operating LLC not owned by the Company.  The convertible non-controlling interest is exchangeable in certain circumstances into Common Stock.  Non-convertible non-controlling interest represents the portion of various subsidiaries of the Operating LLC that are not owned by the Operating LLC.  The non-convertible non-controlling interest is not exchangeable into Common Stock. 
    
   ROLLFORWARD OF NON-CONTROLLING INTERESTS
   (Dollars in Thousands)

       Operating LLC    Other Consolidated Subsidiaries    Total  
 December 31, 2024  $37,093  $11,462  $48,555 
 Non-controlling interest share of income (loss)   15,192   (7,167)  8,025 
 Other comprehensive (loss)   250   -   250 
 Acquisition / (surrender) of additional units of consolidated subsidiary   (499)  -   (499)
 Equity-based compensation   2,311   -   2,311 
 Shares withheld for employee taxes   (241)  -   (241)
 Distributions to convertible non-controlling interest of Cohen & Company Inc.   (3,850)  -   (3,850)
 Redemption of convertible non-controlling interest units   (954)  -   (954)
 Sale of interest in Vellar GP   -   (1,691)  (1,691)
 Non-convertible non-controlling interest investment   -   2,669   2,669 
 Non-convertible non-controlling interest distributions   -   (1,361)  (1,361)
 September 30, 2025  $49,302  $3,912