Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 62

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 62
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 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)   4,143   (314)  3,829 
 Other comprehensive (loss)   250   -   250 
 Acquisition / (surrender) of additional units of consolidated subsidiary   (499)  -   (499)
 Equity-based compensation   1,552   -   1,552 
 Shares withheld for employee taxes   (241)  -   (241)
 Distributions to convertible non-controlling interest of Cohen & Company Inc.   (3,136)  -   (3,136)
 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   -   (1,236)  (1,236)
 June 30, 2025  $38,208  $10,890  $49,098 

   The Operating LLC non-controlling interest is included as convertible non-controlling interest in the consolidated statement of operations.  The other components of non-controlling interest are included as non-convertible non-controlling interest in the statement of operations.  See note 21 to the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended  December 31, 2024, for a discussion of the Company’s non-controlling interests.
    
   Partial redemption of convertible non-controlling interests
    
   On  February 5, 2025, Daniel G. Cohen, the Company’s executive chairman, in accordance with the Operating LLC operating agreement, redeemed 460,679 LLC Units for which