Company: COHN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014235
Chunk: 180

Company: Cohen & Co Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 180
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 Stock (“Series F Preferred Stock”).  Pursuant to the Securities Purchase Agreement, dated  December 30, 2019, by and among the Company, the Operating LLC, Daniel G. Cohen, and the DGC Trust, the Company issued 12,549,273 Series F Preferred Stock to Daniel G. Cohen and 9,880,268 Series F Preferred Stock to the DGC Trust. The Series F Preferred Stock has substantially the same rights as the Series E Preferred Stock.  The holders of the Series F Preferred Stock are not entitled to receive any dividends or distributions (whether in cash, stock, or property of the Company).  The holders of Series F Preferred Stock and Common Stock are required to vote together as a single class on all matters with respect to which a vote of the stockholders of the Company is required or permitted.  Each outstanding share of Series F Preferred Stock entitles the holder to one vote for every ten shares of Series F Preferred Stock on each matter submitted to the holders for their vote.  As of  March 31, 2025, there were 22,429,541 shares of Series F Preferred Stock issued and outstanding.  For a more detailed description of these shares see note 21 to the Company’s Annual Report on Form 10-K for the year ended  December 31, 2024.
    
   Cash Dividends 
    
   During each of the three months ended  March 31, 2025 and 2024, the Company declared a cash dividend of $0.25 per share of Common Stock, which dividends were paid on  April 9, 2025 and  April 5, 2024, respectively.  Pro rata distributions were made to the other members of the Operating LLC upon payment of dividends to the Company's stockholders.
    
   During the three months ended  March 31, 2025, Cohen & Company Inc. received and surrendered units of the Operating LLC. The following table displays the number of units received (net of surrenders) by Cohen & Company Inc.

       Three Months Ended  
   March 31, 2025  
 Issuance as equity-based compensation   1,038,750 
 Total   1,038,750 

   The Company recognized a net increase in additional paid in capital of $502 and a net decrease in AOCI of $13 with an offsetting decrease