Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 243

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 243
---
ITY (continued) |

Priority of Distributions The priority of distributions after making any required tax advances is as follows:

| 1. | Pro rata to the holders of Class A Preferred Units on a fully diluted basis in an amount equal to the product of (a) the aggregate distribution amount; times (b) this group’s fully diluted membership interest expressed as a percentage of the overall fully diluted membership interest; |

| 2. | Pro rata to the holders of Class B Preferred Units in an amount equal to any unpaid cumulative preferred yield; |

| 3. | Pro rata to the holders of Class B Preferred Units in an amount equal to any unreturned capital contribution; |

| 4. | Pro rata to the holders of Common Units in an amount equal to any unreturned capital contribution; |

| 5. | Pro rata to the holders of Common Units and Incentive Units in an amount equal to any remainder. |

| 17. | RETIREMENT PLAN |

PKSI maintains a 401(k) retirement plan for the benefit of its employees. Contributions to the PKSI Plan are limited to a maximum of 3% of employee compensation and are based upon employee contributions. Employees must be 21 years of age and employed for three months to participate. The PKSI contribution to the plan amounted to approximately $0.3 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively. Additionally, WEG maintains a 401(k) plan for qualified employees. WEG matches 50% of employee contributions up to 3% of employee compensation, and may make discretionary contributions to the plan, subject to certain limitations as set forth in the plan agreement. WEG’s aggregate contribution to the plan for the years ended December 31, 2023 and 2022 was approximately $0.02 million and $0.03 million, respectively. WEG also has a separate profit-sharing plan, making discretionary contributions as defined in the plan, subject to certain limitations set forth in the plan agreement. The Company did not make a separate profit-sharing plan contribution for the years ended December 31, 2023 and 2022.

| 18. | NET CAPITAL REQUIREMENTS |

The Company operates four registered broker-dealers that are subject to the SEC Uniform Net Capital Rule (Rule 15c3-1). This requires the Company to maintain certain minimum net capital requirements. At December 31, 2023 and 2022