Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 22

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 22
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, as compared to $76,120 for the year ended December 31, 2023. As discussed in more detail below, the change was comprised of (i) an increase of $4,296 in compensation and benefits; (ii) an increase of $1,413 in business development, occupancy, and equipment; (iii) an increase of $674 in subscriptions, clearing, and execution; (iv) an increase of $5,125 in professional fee and other operating; and (v) a decrease of $7 in depreciation and amortization.

Compensation and Benefits 

﻿ 

Compensation and benefits increased by $4,296, or 8%, to $56,388 for the year ended December 31, 2024, as compared to $52,092 for the year ended December 31, 2023.

      COMPENSATION AND BENEFITS 

      (Dollars in Thousands) 

      Year Ended December 31, 

      2024 

      2023 

      Change 

      Cash compensation and benefits 
      
     $
     51,720

     $
     47,701

     $
     4,019

      Equity-based compensation 

     4,668

     4,391

     277

      Total 
      
     $
     56,388

     $
     52,092

     $
     4,296

﻿ 

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 $4,019 to $51,720 for the year ended December 31, 2024, as compared to $47,701 for the year ended December 31, 2023.  Our headcount decreased to 113 as of December 31, 2024 from 118 as of December 31, 2023.  Cash compensation increased primarily due to an increase in incentive compensation related to the increase in new issue and advisory revenue and income from equity method affiliates, as well as the year over year overall improvement in operating performance. 

﻿ 

Equity-based compensation increased due to a higher number of restricted shares granted in 2024 as compared to 2023.  

﻿ 

Business Development, Occupancy, and Equipment 

Business development