# EDGAR Filing Document

**Accession Number:** 0001247745
**File Stem:** 0001104659-25-117692
**Filing Date:** 2025-12
**Character Count:** 13421
**Document Hash:** bcfbbd474b39afd6481c22a942c10f2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-117692.hdr.sgml**: 20251202

**ACCESSION NUMBER**: 0001104659-25-117692

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251202

**DATE AS OF CHANGE**: 20251202

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cohen & Co Inc.
- **CENTRAL INDEX KEY:** 0001270436
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 161685692
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-79769
- **FILM NUMBER:** 251543047

**BUSINESS ADDRESS:**
- **STREET 1:** CIRA CENTRE, 2929 ARCH STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104-2870
- **BUSINESS PHONE:** 215-701-9555

**MAIL ADDRESS:**
- **STREET 1:** CIRA CENTRE, 2929 ARCH STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104-2870

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSTITUTIONAL FINANCIAL MARKETS, INC.
- **DATE OF NAME CHANGE:** 20110121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COHEN & Co INC.
- **DATE OF NAME CHANGE:** 20091216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALESCO FINANCIAL INC
- **DATE OF NAME CHANGE:** 20061006
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COHEN DANIEL G
- **CENTRAL INDEX KEY:** 0001247745

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 712 FIFTH AVENUE, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 19)**

**Cohen & Co Inc.**

*(Name of Issuer)*

**COMMON STOCK, PAR VALUE $0.01 PER SHARE**

*(Title of Class of Securities)*

**19249M102**

*(CUSIP Number)*

**Daniel G. Cohen**<br>Cira Centre<br>2929 Arch Street, Suite 1703<br>Philadelphia PA 19104-2870<br>(215) 701-9555

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/02/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **19249M102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Daniel G. Cohen** | Name of reporting person<br>**Daniel G. Cohen** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**4375648.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**4295648.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**80000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4375648.00** | Aggregate amount beneficially owned by each reporting person<br>**4375648.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**70.02%** | Percent of class represented by amount in Row (11)<br>**70.02%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Includes 101,100 shares of the common stock, par value $0.01 per share, of Cohen & Company Inc., a Maryland corporation (the "Issuer"), into which 1,011,001 units of membership interests in Cohen & Company, LLC, a subsidiary of the Issuer, may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds directly and which are the subject of this Amendment No. 19 to Schedule 13D.

This Amendment No. 19 to Schedule 13D is filed to amend Items 3, 4 and 5 of the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on June 17, 2011, as amended by Amendment No. 1 to Schedule 13D filed with the SEC on January 17, 2013, Amendment No. 2 to Schedule 13D filed with the SEC on May 14, 2013, Amendment No. 3 to Schedule 13D filed with the SEC on September 30, 2013, Amendment No. 4 to Schedule 13D filed with the SEC on November 21, 2014, Amendment No. 5 to Schedule 13D filed with the SEC on October 27, 2015, Amendment No. 6 to Schedule 13D filed with the SEC on December 20, 2017, Amendment No. 7 to Schedule 13D filed with the SEC on February 23, 2018, Amendment No. 8 to Schedule 13D filed with the SEC on September 26, 2018, Amendment No. 9 to Schedule 13D filed with the SEC on October 4, 2019, Amendment No. 10 to Schedule 13D filed with the SEC on December 3, 2019; Amendment No. 11 to Schedule 13D filed with the SEC on January 6, 2020; Amendment No. 12 to Schedule 13D filed with the SEC on June 19, 2020; Amendment No. 13 to Schedule 13D filed with the SEC on October 28, 2021; Amendment No. 14 to Schedule 13D filed with the SEC on December 3, 2021; Amendment No. 15 to Schedule 13D filed with the SEC on March 22, 2022; Amendment No. 16 to Schedule 13D filed with the SEC on December 5, 2022 and Amendment No. 17 to Schedule 13D filed with the SEC on December 4, 2023, Amendment No. 18 to Schedule 13D filed with the SEC on December 3, 2024 (as so amended, the "Schedule 13D"). Except as set forth herein, the Schedule 13D is unmodified

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
COMMON STOCK, PAR VALUE $0.01 PER SHARE

**(b) Name of Issuer:**
Cohen & Co Inc.

**(c) Address of Issuer's Principal Executive Offices:**
Cira Centre, 2929 Arch Street, Suite 1703, Philadelphia, PA, 19104-2870

**Item 4. Purpose of Transaction**

Item 4 of this Schedule 13D is hereby supplemented by the information set forth in Item 3 above, which information is incorporated by reference herein.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

(a)-(b) The percentages used in the table below and elsewhere herein are based on the following: (a) 2,035,863 shares of Common Stock outstanding as of November 28, 2025 (as provided by the Issuer), plus (b) 525,200 shares of Common Stock into which 5,252,002 LLC Units may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds through Cohen Bros. Financial, LLC, a Delaware limited liability company of which the Reporting Person is the sole member ("CBF"); plus (c) 1,564,082  shares of Common Stock into which  15,640,819  LLC Units may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds directly; plus (d) 2,022,509 shares of Common Stock into which 20,225,095 LLC Units may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which is held by The DGC Family Fintech Trust (the "DGC Trust"), a trust established by the Reporting Person, of which the Reporting Person may be deemed to be a beneficial owner as a result of his ability to acquire at any time any of the DGC Trust's assets, including any securities held by the DGC Trust (and, in turn, the sole voting and sole dispositive power with respect to such securities), by substituting other property of an equivalent value without the approval or consent of any person, including any trustee or beneficiary of the DGC Trust; plus (e) 101,100 shares of Common Stock into which the October 2020 Units, the October 2021 Units, the December 2022 Units, the December 2023 Units and the December 2024 Units (representing an aggregate of 1,011,000  restricted LLC Units) may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds directly.

Number of      Number of     Number of  Number of   Aggregate   Percentage of
Shares of        Shares of       Shares of      Shares of    Number         Class
Common         Common       Common       Common     of Shares       Beneficially
Stock               Stock             Stock             Stock           of                   Ownedwith                 with               with Sole      with            Common
Sole                 Shared           Dispositive   shared         Stock
Voting             Voting            Power           Dispositive  Beneficially
Power              Power                                  Power         Owned
                         Dispositive
                          Power

4,375,648          0                  4,295,648       80,000(3)      4,375,648        77.41%
(1)(2)(3)                                  (1)(2)(3)                                (1)(2)(3)
(4)(5)(6)                                  (4)(5)(6)                                (4)(5)(6)

(1) Includes 82,757 shares of Common Stock held directly by the Reporting Person.

(2) Includes (i) 525,200 shares of Common Stock into which 5,252,002 LLC Units in Cohen & Company, LLC, a subsidiary of the Issuer, may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds through CBF; and (ii) 1,564,082  shares of Common Stock into which 15,640,819 LLC Units may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds directly.

(3) Includes 80,000 shares of Common Stock held by EBC 2013 Family Trust ("EBC"), of which the Reporting Person may be deemed to be a beneficial owner as a result of his position as a trustee of EBC and because the Reporting Person has sole voting power with respect to all shares held by EBC.  While the Reporting Person has sole voting power with respect to all shares of the Issuer held by EBC, decisions with respect to the disposition of such shares are made by a majority of the trustees of EBC.

(4) Includes 2,022,509 shares of Common Stock into which 20,225,095 Units may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which is held by the DGC Trust.

(5) Includes 101,100 shares of the Common Stock into which the October 2020 Units, the October 2021 Units, the December 2022 Units, the December 2023 Units and the December 2024 Units (representing an aggregate of 1,011,001 restricted LLC Units) may be redeemed within 60 days of the date of this Amendment No. 19 to Schedule 13D, which the Reporting Person holds directly.

(6) Does not include 40,000 shares of Common Stock into which 400,000 restricted LLC Units granted to the Reporting Person on October 28, 2021 may become convertible, as the Reporting Person will not have the right to so convert such restricted LLC Units until such time as the restrictions on such LLC Units expire. The restrictions expire with respect to 400,000 of such restricted LLC Units on January 31, 2027 so long as the Reporting Person is then employed by the Company or any of its subsidiaries.  Does not include 7,034 shares of Common Stock into which 70,334 restricted LLC Units granted to the Reporting Person on December 21, 2023 may become convertible, as the Reporting Person will not have the right to so convert such restricted LLC Units until such time as the restrictions on such LLC Units expire. The restrictions expire with respect to 7,034 of such restricted LLC Units on January 31, 2027 so long as the Reporting Person is then employed by the Company or any of its subsidiaries. Finally, does not include 14,067 shares of Common Stock into which 140,667 restricted LLC Units granted to the Reporting Person on December 20, 2024 may become convertible, as the Reporting Person will not have the right to convert such restricted LLC Units until such time as the restrictions on such LLC Units expire. The restrictions expire with respect to 7,033 of such restricted LLC Units on January 31, 2027 and 7,034 of such restricted LLC Units on January 31, 2028 so long as the Reporting Person is then employed by the Company or any of its subsidiaries.

**(b)**
—

**(c)**
Except as set forth in Item 3 above, there have been no transactions by the Reporting Person in shares of Common Stock during the last 60 days.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Daniel G. Cohen

**Signature:** /s/ Daniel G. Cohen

**Name/Title:** Daniel G. Cohen

**Date:** 12/02/2024