X0508 4 2025-12-19 0 0001270436 Cohen & Co Inc. COHN 0001578554 Brafman Lester Raymond C/O COHEN & CO INC., 2929 ARCH STREET, SUITE 1703 PHILADELPHIA PA 19104-2870 0 1 0 0 Chief Executive Officer 0 Common Stock, par value $0.01 per share 315702 D Cohen & Company, LLC Membership Units 2025-12-19 4 A 0 211000 0.00 A Common Stock, par value $0.01 per share 21100 1599316 D Mr. Brafman was awarded 211,000 restricted membership units ("Units") in Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), under the Company's 2020 Long-Term Incentive Plan, as amended. The restrictions expire with respect to one-third of the Units on each of January 31, 2027, January 31, 2028 and January 31, 2029. Following the expiration of the restrictions on the applicable Units, Mr. Brafman may cause the Operating LLC to redeem such Units at any time thereafter for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units. /s/ Joseph W. Pooler, Jr., as attorney-in-fact 2025-12-19