Company: COHN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-035625
Chunk: 90

Company: Cohen & Co Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 90
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 Restated JKD Note from 10% per annum to 12% per annum effective as of January 31, 2024. B. Duane Morris, LLP (“Duane Morris”) Duane Morris is an international law firm and serves as legal counsel to the Company. Duane Morris is considered a related party because a partner at Duane Morris is a member of the same household as Diana Liberto, a director of the Company. Expense incurred by the Company for services provided by Duane Morris were $632 in 2024 and $432 in 2023. C. Stoa USA Inc./FlipOs (“FlipOs”) FlipOs, a tech platform for real estate investors, has been identified as a related party because Daniel G. Cohen is a director of the entity. As of December 31, 2023, the Company had made cumulative investments of $847 in Stoa USA Inc. / FlipOS. During the year ended December 31, 2023, Stoa USA Inc. / FlipOS announced that it had ceased operations. The Company wrote off its investment during the year ended December 31, 2023 and recorded a principal transactions loss. The Company had no remaining investment in Stoa USA Inc. / FlipOS as of December 31, 2023. The Company recognized a loss on this investment of $(6,847) for the year ended December 31, 2023. D. Directors and Employees In addition to the employment agreements the Company has entered into with Daniel G. Cohen and Joseph W. Pooler, Jr., the Company’s Chief Financial Officer (each of which is described above), the Company has entered into its standard indemnification agreement with each of its directors and executive officers. The Company maintains a 401(k) savings plan covering substantially all of its employees. The Company matches 50% of employee contributions for all participants not to exceed 3% of their salary. Contributions made to the plan on behalf of the Company were $438 and $396 for the years ended December 31, 2024 and 2023, respectively. On February 1, 2023, Daniel G. Cohen, the Company’s Executive Chairman, redeemed 479,380 LLC Units for which the Company paid to Mr. Cohen an aggregate of $421, or $0.878 per LLC Unit. The LLC Units were so redeemed by Mr. Cohen in order to fund certain tax liabilities incurred by Mr. Cohen in connection with the vesting, on January 31,