COHN · Cohen & Co Inc. · Insider Trading

These shares were sold in multiple transactions, each at a price of $15.00.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.50 to $12.50, inclusive. The reporting person undertakes to provide to Cohen & Company Inc., any security holder of Cohen & Company Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.01 to $15.6735, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.1383 to $17.1839, inclusive. The reporting person undertakes to provide to Cohen & Company Inc., any security holder of Cohen & Company Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

Mr. Brafman was awarded 1,605,000 restricted membership units, designated as LTIP Units ("LTIP 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 "Plan"). The LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes. The LTIP Units are scheduled to vest as follows: 20% of the LTIP Units will vest on each of the first, second, third, fourth and fifth anniversaries of the date the LTIP Units were granted, in each case, subject to Mr. Brafman's continued service on the vesting date.

Following the expiration of the restrictions on the applicable LTIP Units, Mr. Brafman may, subject to the terms and conditions of the Plan and the Operating LLC's limited liability company agreement, convert the LTIP Units into units of membership of the Operating LLC ("Units") on a one-for-one basis. Upon Mr. Brafman's conversion (if any) of LTIP Units into 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.

Mr. Pooler was awarded 160,000 restricted membership units, designated as LTIP Units ("LTIP 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 "Plan"). The LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes. The LTIP Units are scheduled to vest as follows: 20% of the LTIP Units will vest on each of the first, second, third, fourth and fifth anniversaries of the date the LTIP Units were granted, in each case, subject to Mr. Pooler's continued service on the vesting date.

Following the expiration of the restrictions on the applicable LTIP Units, Mr. Pooler may, subject to the terms and conditions of the Plan and the Operating LLC's limited liability company agreement, convert the LTIP Units into units of membership of the Operating LLC ("Units") on a one-for-one basis. Upon Mr. Pooler's conversion (if any) of LTIP Units into Units, Mr. Pooler 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.

Mr. Cohen was awarded 2,888,000 restricted membership units, designated as LTIP Units ("LTIP 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 "Plan"). The LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes. The LTIP Units are scheduled to vest as follows: 50% of the LTIP Units will vest on the third anniversary of the date the LTIP Units were granted and the remaining 50% of the LTIP Units will vest on the sixth anniversary of the date the LTIP Units were granted, in each case, subject to Mr. Cohen's continued service on the vesting date.

Following the expiration of the restrictions on the applicable LTIP Units, Mr. Cohen may, subject to the terms and conditions of the Plan and the Operating LLC's limited liability company agreement, convert the LTIP Units into units of membership of the Operating LLC ("Units") on a one-for-one basis. Upon Mr. Cohen's conversion (if any) of LTIP Units into Units, Mr. Cohen 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.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2026, of 6,667 shares of restricted stock granted to the reporting person by the Company pursuant to the Company's 2020 Long-Term Incentive Plan, as amended.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2026, of 15,500 shares of restricted stock granted to the reporting person by the Company pursuant to the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Brafman redeemed 501,455 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $978,338.07, or $1.951 per Unit, in order to fund certain tax liabilities incurred by Mr. Brafman in connection with the vesting, on January 31, 2026, of 611,000 Units and 40,000 restricted shares of the Company's common stock granted to Mr. Brafman under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Brafman had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Mr. Cohen redeemed 463,915 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $905,098.17, or $1.951 per Unit, in order to fund certain tax liabilities incurred by Mr. Cohen in connection with the vesting, on January 31, 2026, of 1,011,001 restricted Units granted to Mr. Cohen under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Cohen had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Mr. Cohen 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. Cohen 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.

5,252,002 membership units in the Operating LLC are owned by Cohen Bros. Financial, LLC, a Delaware limited liability company of which Mr. Cohen is the sole member.

Mr. Dawson (the "Reporting Person") was awarded 2,300 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Haraburda was awarded 2,300 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Listman was awarded 12,000 restricted shares of common stock (the "Restricted Shares") of Cohen & Co Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan. The restrictions expire with respect to one-third of the Restricted Shares on each of January 31, 2027, January 31, 2028 and January 31, 2029.

Mr. Pooler was awarded 15,500 restricted shares of common stock (the "Restricted Shares") of Cohen & Co Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan. The restrictions expire with respect to one-third of the Restricted Shares on each of January 31, 2027, January 31, 2028 and January 31, 2029.

Mr. DiMaio was awarded 2,300 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

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.

Ms. Liberto was awarded 2,300 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

On December 3, 2025, Columbus Circle 1 Sponsor Corp (the "Sponsor") distributed (i) 8,245,833 of its Class B ordinary shares (the "Class B Ordinary Shares"), par value $0.0001 per share, of Columbus Circle Capital Corp I (the "Issuer") and (ii) all of its 265,000 private placement units (the "Private Placement Units"), each Private Placement Unit consisting of one Class A ordinary share, par value $0.0001 per share, of the Issuer (the "Class A Ordinary Shares") and one-half of one warrant (with each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share) to its members and members of Columbus Circle 1E Sponsor Corporation LLC ("Columbus Circle 1E"), a member of the Sponsor, for no consideration (the "Sponsor Distribution"). Cohen & Company, LLC ("Cohen LLC"), the managing member of the Sponsor, received 2,151,666 Class B Ordinary Shares pursuant to the Sponsor Distribution. Cohen & Company Inc. ("Cohen") is the parent company of Cohen LLC.

The Class B Ordinary Shares have no expiration date, will automatically convert into Class A Ordinary Shares upon the closing of the Issuer's initial business combination (the "Closing"), are subject to certain time and price vesting conditions pursuant to the Sponsor Letter Agreement, effective as of December 3, 2025, by and between the Sponsor and ProCap Financial, Inc, and are subject to a six-month lock-up restrictions on transfer following the Closing pursuant to the Insider Letter Agreement, dated May 15, 2025, by and among the Issuer, the Sponsor, and other parties thereto.

Includes the 87,500 Class B Ordinary Shares held by the Sponsor, for which Cohen LLC holds voting and investment discretion. Each of Cohen and Cohen LLC disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest each of them may have therein, directly or indirectly.

As described in the Issuer's registration statement on Form S-1 (File No. 333-286778) under the heading "Description of Securities--Founder Shares", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time and from time to time at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights.

As contemplated in connection with the initial public offering of Columbus Circle Capital Corp. I (the "Issuer"), 100,000 Class B ordinary shares were surrendered by Columbus Circle 1 Sponsor Corp LLC (the "Sponsor") to the Issuer for no consideration and cancelled because the underwriters' over-allotment option was not fully exercised by the underwriters.

Cohen & Company, LLC ("Cohen LLC"), the managing member of the Sponsor, holds voting and investment discretion with respect to the securities held of record by the Sponsor. Cohen & Company Inc. ("Cohen") controls, through subsidiaries, the Sponsor. Each of Cohen and Cohen LLC disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest each of them may have therein, directly or indirectly.

Reflects the 265,000 Class A ordinary shares of the Issuer that are included in the 265,000 private placement units of the Issuer purchased by the Sponsor. Each private placement unit was purchased for $10 per unit and consists of one Class A ordinary share and one-half of a warrant, each whole warrant exercisable into one Class A ordinary share at an exercise price of $11.50 per ordinary share.

Cohen & Company, LLC ("Cohen LLC"), the managing member of the Sponsor, holds voting and investment discretion with respect to the securities held of record by the Sponsor. Cohen & Company Inc. ("Cohen") controls, through subsidiaries, the Sponsor. Each of Cohen and Cohen LLC disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest each of them may have therein, directly or indirectly.

Represents (i) the 265,000 Class A ordinary shares referred to in footnote 5 and (ii) 8,333,333 Class B ordinary shares held by the Sponsor acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor.

Mr. Cohen redeemed 460,679 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $456,533.10, or $0.991 per Unit, in order to fund certain tax liabilities incurred by Mr. Cohen in connection with the vesting, on January 31, 2025, of 1,011,001 restricted Units granted to Mr. Cohen under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Cohen had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Mr. Brafman redeemed 502,053 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $497,534.63, or $0.991 per Unit, in order to fund certain tax liabilities incurred by Mr. Brafman in connection with the vesting, on January 31, 2025, of 610,996 Units and 40,000 restricted shares of the Company's common stock granted to Mr. Brafman under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Brafman had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2025, of 5,000 shares of restricted stock granted to the reporting person by the Company pursuant to the Company's 2020 Long-Term Incentive Plan, as amended.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2025, of 15,500 shares of restricted stock granted to the reporting person by the Company pursuant to the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Haraburda was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Pooler was awarded 15,500 restricted shares of common stock (the "Restricted Shares") of Cohen & Co Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan. The restrictions expire with respect to one-third of the Restricted Shares on each of January 31, 2026, January 31, 2027 and January 31, 2028.

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, 2026, January 31, 2027 and January 31, 2028. 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.

Ms. Liberto was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. DiMaio was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Dawson (the "Reporting Person") was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Cohen 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, 2026, January 31, 2027 and January 31, 2028. Following the expiration of the restrictions on the applicable Units, Mr. Cohen 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.

5,252,002 membership units in the Operating LLC are owned by Cohen Bros. Financial, LLC, a Delaware limited liability company of which Mr. Cohen is the sole member.

Mr. Listman was awarded 10,000 restricted shares of common stock (the "Restricted Shares") of Cohen & Co Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan. The restrictions expire with respect to one-third of the Restricted Shares on each of January 31, 2026, January 31, 2027 and January 31, 2028.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.42 to $11.75, inclusive. The reporting person undertakes to provide to Cohen & Company Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2024, of 10,333 shares of restricted stock granted to the reporting person by the Company pursuant the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Brafman redeemed 483,301 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $343,627, or $0.711 per Unit, in order to fund certain tax liabilities incurred by Mr. Brafman in connection with the vesting, on January 31, 2024, of 540,633 restricted membership units of the Operating LLC and 40,000 restricted shares of the Company's common stock granted to Mr. Brafman under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Brafman had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Mr. Cohen redeemed 443,474 membership units (the "Units") of Cohen & Company, LLC (the "Operating LLC"), a subsidiary of Cohen & Co Inc. (the "Company"), for an aggregate of $315,310, or $0.711 per Unit, in order to fund certain tax liabilities incurred by Mr. Cohen in connection with the vesting, on January 31, 2024, of 940,669 restricted Units granted to Mr. Cohen under the Company's 2020 Long-Term Incentive Plan, as amended. In accordance with the Operating LLC's Amended and Restated Limited Liability Company Agreement, as amended, Mr. Cohen had the right to redeem the Units at any time for, at the Company's option, (i) cash or (ii) one share of the Company's common stock for every ten Units.

Represents shares of common stock of Cohen & Company Inc. (the "Company") withheld by the Company to fund certain tax liabilities incurred by the reporting person in connection with the vesting, on January 31, 2024, of 3,333 shares of restricted stock granted to the reporting person by the Company pursuant to the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Listman was awarded 5,000 restricted shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended. The restrictions expire with respect to one-third of the common stock on each of January 31, 2025, January 31, 2026 and January 31, 2027.

Mr. DiMaio was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Cohen 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, 2025, January 31, 2026 and January 31, 2027. Following the expiration of the restrictions on the applicable Units, Mr. Cohen 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.

5,252,002 membership units in the Operating LLC are owned by Cohen Bros. Financial, LLC, a Delaware limited liability company of which Mr. Cohen is the sole member.

Mr. Dawson (the "Reporting Person") was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Mr. Haraburda was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.

Ms. Liberto was awarded 1,100 shares of common stock of Cohen & Company Inc. (the "Company") under the Company's 2020 Long-Term Incentive Plan, as amended.