<SEC-DOCUMENT>0001104659-22-124508.txt : 20221205
<SEC-HEADER>0001104659-22-124508.hdr.sgml : 20221205
<ACCEPTANCE-DATETIME>20221205130857
ACCESSION NUMBER:		0001104659-22-124508
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20221205
DATE AS OF CHANGE:		20221205

SUBJECT COMPANY:	

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

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79769
		FILM NUMBER:		221444373

	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

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVENUE, 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>tm2231671d2_sc13da.htm
<DESCRIPTION>SC 13D/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No.&nbsp;16)*</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COHEN&nbsp;&amp; COMPANY INC.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Issuer)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMMON STOCK, PAR VALUE $0.01 PER SHARE</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Title of Class&nbsp;of Securities)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>19249M 102</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(CUSIP Number)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Daniel G. Cohen</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cira Centre</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2929 Arch Street, Suite&nbsp;1703</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Philadelphia, Pennsylvania 19104-2870</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(215) 701-9555</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December  2, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Date of Event Which Requires Filing of This
Statement)</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the filing person has previously filed a statement on Schedule&nbsp;13G to report the acquisition that is the subject of this Schedule&nbsp;13D,
and is filing this schedule because of &sect;&sect;&nbsp;240.13d-1(e), 240.13d-1(f)&nbsp;or 240.13d-1(g), check the following box.&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note:</B></FONT>
Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule&nbsp;13d-7
for other parties to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remainder of this cover page&nbsp;shall be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page&nbsp;shall
not be deemed to be &ldquo;filed&rdquo; for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page --><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">SCHEDULE 13D</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">CUSIP No.&nbsp;19249M 102</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">Page&nbsp;2 of 6</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt; width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;1&nbsp;</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; width: 85%; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name of reporting person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Daniel G. Cohen</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;2</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box if a member of a group (see instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;3</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SEC use only</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;4</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Source of funds (see instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;OO</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;5</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check if disclosure of legal proceedings is required pursuant to Items
    2(d) or 2(e)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;6</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 10pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citizenship or place of organization</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;United States</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="width: 17%; border-left: black 1pt solid; padding-left: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number&nbsp;of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">shares</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">beneficially</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">owned&nbsp;by</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">each</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">reporting</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">with</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; border-left: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;7&nbsp;</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 10pt; vertical-align: top; width: 76%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Sole voting power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;&nbsp;&nbsp;&nbsp;4,237,734<FONT STYLE="font-size: 10pt"><SUP>(1)(2)(3)(4)(5)(6)</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;8</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 10pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Shared voting power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;&nbsp;&nbsp;&nbsp;0</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;9</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 10pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Sole dispositive power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;&nbsp;&nbsp;&nbsp;4,157,734<FONT STYLE="font-size: 10pt"><SUP>(1)(2)(4)(5)(6)</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">10</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 10pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Shared dispositive power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;&nbsp;&nbsp;&nbsp;80,000<FONT STYLE="font-size: 10pt"><SUP>(3)(6)</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; font-size: 10pt; width: 15%"><FONT STYLE="font-size: 10pt">11</FONT></TD>
    <TD STYLE="padding-left: 10pt; border-left: Black 1pt solid; vertical-align: top; width: 85%; border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate amount beneficially owned by each reporting person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;4,237,734<FONT STYLE="font-size: 10pt"><SUP>(1)(2)(3)(4)(5)(6)</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">12</FONT></TD>
    <TD STYLE="padding-left: 10pt; border-left: Black 1pt solid; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check box, if the aggregate amount in Row (11) excludes certain shares
    (see instructions)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">13</FONT></TD>
    <TD STYLE="padding-left: 10pt; border-left: Black 1pt solid; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of class represented by amount in Row (11)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;72.03%</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">14</FONT></TD>
    <TD STYLE="padding-left: 10pt; border-left: Black 1pt solid; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of reporting person (see instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;IN</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 2.85pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Includes 96,783 shares of the common stock, par value $0.01 per share (&ldquo;Common Stock&rdquo;), of Cohen &amp; Company Inc., a Maryland corporation (the &ldquo;Issuer&rdquo;), into which 967,833 units of membership interests in Cohen &amp; Company, LLC, a subsidiary of the Issuer, may be redeemed within 60 days of the date of this Amendment No. 16 to Schedule 13D, which the Reporting Person holds directly and which are the subject of this Amendment No. 16 to Schedule 13D.</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page --><P STYLE="margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">SCHEDULE 13D</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">CUSIP No.&nbsp;19249M 102</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">Page&nbsp;3 of 6</FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Amendment No. 16 to Schedule 13D is filed to amend Items 3, 4
and 5 of the Schedule 13D filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) 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; and Amendment No. 15 to Schedule 13D filed with the SEC on March 22, 2022 (as so amended,
the &ldquo;Schedule 13D&rdquo;). Except as set forth herein, the Schedule 13D is unmodified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 6%; text-align: left"><B>Item 3.</B></TD><TD STYLE="text-align: justify; width: 94%"><B>Source and Amount of Funds or Other Consideration.</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">Item 3 of the Schedule 13D is hereby supplemented as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">As previously disclosed, on October 22, 2020, Cohen &amp;
Company, LLC (the &ldquo;Operating LLC&rdquo;), a subsidiary of Cohen &amp; Company Inc., a Maryland corporation (the &ldquo;Issuer&rdquo;),
granted to Daniel G. Cohen (the &ldquo;Reporting Person&rdquo;) 2,000,000 restricted units of membership interests in the Operating LLC
(&ldquo;LLC Units&rdquo;) pursuant to the Issuer&rsquo;s 2020 Long-Term Incentive Plan, as amended (the &ldquo;2020 Long-Term Incentive
Plan&rdquo;). The restrictions will expire with respect to 400,000 of such restricted LLC Units on January 31, 2023 (collectively, the
 &ldquo;October 2020 Units&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">As previously disclosed, on February 2, 2021, the Operating
LLC granted to the Reporting Person 195,000 restricted LLC Units pursuant to the 2020 Long-Term Incentive Plan. The restrictions will
expire with respect to 97,500 of such restricted LLC Units on January 31, 2023 (collectively, the &ldquo;February 2021 Units&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">Further, as previously disclosed, on October 28, 2021, the
Operating LLC granted to the Reporting Person 2,000,000 restricted LLC Units pursuant to the 2020 Long-Term Incentive Plan. The restrictions
will expire with respect to 400,000 of such restricted LLC Units on January 31, 2023 (collectively, the &ldquo;October 2021 Units&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">Finally, as previously disclosed, on December 20, 2021,
the Operating LLC granted to the Reporting Person 211,000 restricted LLC Units pursuant to the 2020 Long-Term Incentive Plan. The restrictions
will expire with respect to 70,333 of such restricted LLC Units on January 31, 2023 (collectively, the &ldquo;December 2021 Units&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">SCHEDULE 13D</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">CUSIP No.&nbsp;19249M 102</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">Page&nbsp;4 of 6</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">Upon the expiration of the restrictions on January 31, 2023
(which date is within 60 days of the date of this Amendment No. 16 to Schedule 13D) on each of the October 2020 Units, the February 2021
Units, the October 2021 Units and the December 2021 Units, the Reporting Person will have the ability to cause the Operating LLC to redeem
such LLC Units at any time for, at the Issuer&rsquo;s option, (A)&nbsp;cash or (B)&nbsp;one share of the Issuer&rsquo;s common stock,
par value $0.01 per share (&ldquo;Common Stock&rdquo;), for every ten of such restricted LLC Units. Accordingly, upon the expiration of
the restrictions on January 31, 2023, the Reporting Person will have the ability to cause the Issuer to redeem the 967,833 restricted
LLC Units (which number of LLC Units represents the aggregate of the October 2020 Units, the February 2021 Units, the October 2021 Units
and the December 2021 Units), into an aggregate of 96,783 shares of Common Stock and the Reporting Person may be deemed to be the beneficial
owner of all such 96,783 shares of Common Stock, which shares are the subject of this Amendment No. 16 to Schedule 13D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.85pt 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4.</B></FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Purpose of Transaction.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 2.9pt 0pt 0"><FONT STYLE="font-size: 10pt">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.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 2.9pt 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 2.9pt 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.</B></FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest in Securities of the Issuer. </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5 of the Schedule 13D is hereby amended and restated in its entirety
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)-(b) The percentages used in the table below and elsewhere herein
are based on the following: (a) 1,716,942 shares of Common Stock outstanding as of November 29, 2022 (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. 16
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 (&ldquo;CBF&rdquo;); plus (c) 1,410,485 shares of Common Stock into which 14,104,853 LLC Units may
be redeemed within 60 days of the date of this Amendment No. 16 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. 16 to Schedule
13D, which is held by The DGC Family Fintech Trust (the &ldquo;DGC Trust&rdquo;), 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&rsquo;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) 96,783 shares of Common Stock into which the October 2020 Units, the February 2021 Units, the
October 2021 Units and the December 2021 Units (representing an aggregate of 967,833 restricted LLC Units) may be redeemed within 60 days
of the date of this Amendment No. 16 to Schedule 13D, which the Reporting Person holds directly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">SCHEDULE 13D</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">CUSIP No.&nbsp;19249M 102</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: White">Page&nbsp;5 of 6</FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number of<BR> Shares of<BR> Common Stock<BR> with Sole Voting<BR> Power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number of Shares<BR> of <BR>
Common<BR> Stock with Shared <BR>
Voting <BR>
Power<BR> Dispositive <BR>
Power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number of Shares<BR> of Common<BR> Stock with Sole<BR> Dispositive Power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number of Shares<BR> of <BR>
Common <BR>
Stock<BR> with <BR>
Shared<BR> Dispositive Power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aggregate<BR> Number<BR> of Shares of<BR> Common Stock<BR> Beneficially<BR> Owned</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Percentage <BR>
of<BR> Class<BR> Beneficially<BR> Owned</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 14%; font-size: 10pt; text-align: right">4,237,734</TD><TD STYLE="white-space: nowrap; width: 5%; font-size: 10pt; text-align: left"><SUP>(1)(2)(3)(4)(5)(6)</SUP>&nbsp;</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 10%; font-size: 10pt; text-align: right">0</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 12%; font-size: 10pt; text-align: right">4,157,734</TD><TD STYLE="white-space: nowrap; width: 5%; font-size: 10pt; text-align: left"><SUP>(1)(2)(4)(5)(6)</SUP>&nbsp;</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 11%; font-size: 10pt; text-align: right">80,000</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><SUP>(3)</SUP>&nbsp;</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 12%; font-size: 10pt; text-align: right">4,237,734</TD><TD STYLE="white-space: nowrap; width: 5%; font-size: 10pt; text-align: left"><SUP>(1)(2)(3)(4)(5)(6)</SUP>&nbsp;</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="white-space: nowrap; width: 12%; font-size: 10pt; text-align: right">72.03</TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-size: 10pt">Includes (i) 24,017 shares of Common Stock held directly by the Reporting Person, and (ii) 78,740 shares of Common Stock held through CBF.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Includes (i) 525,200 shares of Common Stock into which 5,252,002 LLC Units in Cohen &amp; Company, LLC, a subsidiary of the Issuer, may be redeemed within 60 days of the date of this Amendment No. 16 to Schedule 13D, which the Reporting Person holds through CBF; and (ii) 1,410,485 shares of Common Stock into which 14,104,853 LLC Units may be redeemed within 60 days of the date of this Amendment No. 16 to Schedule 13D, which the Reporting Person holds directly.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Includes 80,000 shares of Common Stock held by EBC 2013 Family Trust (&ldquo;EBC&rdquo;), 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.&nbsp; 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. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">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. 16 to Schedule 13D, which is held by the DGC Trust.&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Includes 96,783 shares of the Common Stock into which the October 2020 Units, the February 2021 Units, the October 2021 Units and the December 2021 Units (representing an aggregate of 967,833 restricted LLC Units) may be redeemed within 60 days of the date of this Amendment No. 16 to Schedule 13D, which the Reporting Person holds directly.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Does not include 120,000 shares of Common Stock into which 1,200,000 restricted LLC Units granted to the Reporting Person on October&nbsp;22, 2020 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 each of January&nbsp;31, 2024, January&nbsp;31, 2025 and January&nbsp;31, 2026, in each case, so long as the Reporting Person is then employed by the Company or any of its subsidiaries.&nbsp;&nbsp;Also, does not include 160,000 shares of Common Stock into which 1,600,000 restricted LLC Units granted to the Reporting Person on October&nbsp;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 each of January&nbsp;31, 2024, January&nbsp;31, 2025, January&nbsp;31, 2026 and January&nbsp;31, 2027, in each case, so long as the Reporting Person is then employed by the Company or any of its subsidiaries.&nbsp;&nbsp;Finally, does not include 14,066 shares of Common Stock into which 140,660 restricted LLC Units granted to the Reporting Person on December 20, 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 7,033 of such restricted LLC Units on each of January&nbsp;31, 2024 and January&nbsp;31, 2025, in each case, so long as the Reporting Person is then employed by the Company or any of its subsidiaries</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) EBC has the right to receive dividends from, and the proceeds from
the sale of, all shares of Common Stock owned by EBC. The Reporting Person, Mr. Raphael Licht and Mr. Jeffrey D. Blomstrom, as the trustees
of EBC, have the power to direct the receipt of dividends from, and the proceeds from the sale of such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e) Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">After reasonable inquiry and to the best of the undersigned&rsquo;s
knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: December 5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 46%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Daniel G. Cohen</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel G. Cohen</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 7; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page --><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
