Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2940

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 2940
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 dissolution of IIFC or (ii) when we have earned a cumulative $20,000 in revenue share payments.  To date, we 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.

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Compensation and Benefits 

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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