| | |
Page
|
| |||
| | | | 6 | | | |
| | | | 10 | | | |
| | | | 25 | | | |
| | | | 28 | | | |
| | | | 29 | | | |
| | | | 30 | | | |
| | | | 31 | | | |
| | | | 33 | | | |
| | | | 36 | | | |
| | | | 37 | | | |
| | | | 40 | | | |
| | | | 42 | | | |
| | | | 43 | | | |
| | | | 49 | | | |
| | | | 50 | | | |
| | | | 51 | | | |
| | | | 52 | | |
| | |
Executive Compensation Table
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($) |
| |
Stock
Awards ($)(1) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Non-Qualified
Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($)(2) |
| |
Total
($) |
| |||||||||||||||||||||||||||
Lester R. Brafman
|
| | | | 2022 | | | | | | 630,000 | | | | | | 2,120,000 | | | | | | 178,506(6) | | | | | | — | | | | | | — | | | | | | — | | | | | | 48,665 | | | | | | 2,977,171 | | |
Chief Executive Officer(3)
|
| | | | 2021 | | | | | | 630,000 | | | | | | 5,500,000 | | | | | | 4,586,673(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,754,559(12) | | | | | | 12,462,232 | | |
Daniel G. Cohen
|
| | | | 2022 | | | | | | 630,000 | | | | | | 2,120,000 | | | | | | 178,506(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,390 | | | | | | 2,978,896 | | |
Executive Chairman(4)
|
| | | | 2021 | | | | | | 630,000 | | | | | | 5,500,000 | | | | | | 4,586,673(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,754,510(12) | | | | | | 12,471,183 | | |
Joseph W. Pooler, Jr.
|
| | | | 2022 | | | | | | 463,000 | | | | | | 637,501 | | | | | | 131,130(10) | | | | | | — | | | | | | — | | | | | | — | | | | | | 36,159 | | | | | | 1,267,790 | | |
Executive Vice President, Chief Financial Officer & Treasurer(5)
|
| | | | 2021 | | | | | | 463,000 | | | | | | 1,413,665 | | | | | | 254,665(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | 290,618(12) | | | | | | 2,421,948 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards; Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares of Stock or Units That Have Not Vested (#) |
| |
Market
Value of Shares of Stock or Units That Have Not Vested ($)(1) |
| |
Equity
Incentive Plan Awards; Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
| |||||||||||||||||||||||||||
Lester R. Brafman
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | |
|
(2)
|
| | | | | 3,435,654 | | | | | | — | | | | | | — | | |
Joseph W. Pooler, Jr.
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 36,000(3) | | | | | | 300,240 | | | | | | — | | | | | | — | | |
Daniel G. Cohen
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,119,500(4) | | | | | | 3,435,663 | | | | | | — | | | | | | — | | |
| | |
(a)
|
| |
(b)
|
| |
(c)
|
| |||||||||
Plan Category
|
| |
Number of
securities to be issued upon the exercise of outstanding options, warrants and rights |
| |
Weighted-average
exercise price of outstanding options, warrants and rights |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) |
| |||||||||
Equity compensation plans approved by security holders
|
| | | | — | | | | | | — | | | | | | 697,324 | | |
Equity compensation plans not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | | | | | | | | | | | | | 697,324 | | |
Year
|
| |
Summary
compensation table total for CEO(1) ($) |
| |
Compensation
actually paid to CEO(2) ($) |
| |
Average
summary compensation table total for non-CEO named executive officers(3) ($) |
| |
Average
compensation actually paid to non-CEO named executive officers(4) ($) |
| |
Value of
initial fixed $100 investment based on total shareholder return(5) ($) |
| |
Net
income(6) ($) |
| ||||||||||||||||||
(a)
|
| |
(b)
|
| |
(c)
|
| |
(d)
|
| |
(e)
|
| |
(f)
|
| |
(g)
|
| ||||||||||||||||||
2022
|
| | | | 2,977,171 | | | | | | 475,156 | | | | | | 2,123,343 | | | | | | 806,060 | | | | | | 64 | | | | | | (13,389,900) | | |
2021
|
| | | | 12,462,232 | | | | | | 7,542,963 | | | | | | 7,446,566 | | | | | | 4,944,439 | | | | | | 93 | | | | | | 11,808,000 | | |
Year
|
| |
Reported
Summary Compensation Table Total for CEO ($) |
| |
Deduct Reported
Value of Equity Awards(A) ($) |
| |
Add Equity
Award Adjustments(B) ($) |
| |
Compensation
Actually Paid to CEO (in thousands) ($) |
| ||||||||||||
2022
|
| | | | 2,977,171 | | | | | | 178,506 | | | | | | (2,323,509) | | | | | | 475,156 | | |
2021
|
| | | | 12,462,232 | | | | | | 4,586,673 | | | | | | (332,597) | | | | | | 7,542,963 | | |
Year
|
| |
Year End Fair
Value of Outstanding and Unvested Equity Awards Granted in the Year ($) |
| |
Year over
Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years ($) |
| |
Fair Value as
of Vesting Date of Equity Awards Granted and Vested in the Year ($) |
| |
Year over
Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) |
| |
Fair Value at
the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) |
| |
Value of
Dividends or other Earnings Paid on Stock or Option Awards Prior to the Vesting Date Not Otherwise Reflected in Fair Value or Total Compensation ($) |
| |
Service Costs
and Prior Service Costs ($) |
| |
Total
Equity Award Adjustments ($) |
| ||||||||||||||||||||||||
2022
|
| | | | 175,974 | | | | | | (2,528,793) | | | | | | — | | | | | | 29,310 | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,323,509) | | |
2021
|
| | | | 312,476 | | | | | | (680,703) | | | | | | — | | | | | | 35,630 | | | | | | — | | | | | | — | | | | | | — | | | | | | (332,597) | | |
Year
|
| |
Average
Reported Summary Compensation Table Total for Non-CEO named executive officers ($) |
| |
Deduct
Average Reported Value of Equity Awards ($) |
| |
Add
Average Equity Award Adjustments(a) ($) |
| |
Average Compensation
Actually Paid to Non- CEO named executive officers ($) |
| ||||||||||||
2022
|
| | | | 2,123,343 | | | | | | 154,818 | | | | | | (1,162,465) | | | | | | 806,060 | | |
2021
|
| | | | 7,446,566 | | | | | | 2,420,669 | | | | | | (81,458) | | | | | | 4,944,439 | | |
Year
|
| |
Year End Fair
Value of Outstanding and Unvested Equity Awards Granted in the Year ($) |
| |
Year over
Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years ($) |
| |
Fair Value as
of Vesting Date of Equity Awards Granted and Vested in the Year ($) |
| |
Year over
Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) |
| |
Fair Value at
the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) |
| |
Value of
Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($) |
| |
Service Costs
and Prior Service Costs ($) |
| |
Total
Equity Award Adjustments ($) |
| ||||||||||||||||||||||||
2022
|
| | | | 152,622 | | | | | | (1,330,717) | | | | | | — | | | | | | 15,630 | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,162,465) | | |
2021
|
| | | | 271,023 | | | | | | (382,625) | | | | | | — | | | | | | 30,145 | | | | | | — | | | | | | — | | | | | | — | | | | | | (81,457) | | |
Name
|
| |
Fees
Earned or Paid in Cash ($)(1) |
| |
Stock
Awards ($) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Nonqualified
Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||
G. Steven Dawson
|
| | | | 95,000 | | | | | | 9,306 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 104,306 | | |
Jack DiMaio
|
| | | | 75,000 | | | | | | 9,306 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 84,306 | | |
Jack Haraburda
|
| | | | 78,750 | | | | | | 9,306 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 88,056 | | |
Diana Louise Liberto
|
| | | | 78,750 | | | | | | 9,306 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 88,056 | | |
| | |
Year Ended
December 31, 2022 |
| |
Year Ended
December 31, 2021 |
| ||||||
Audit Fees(1)
|
| | | $ | 647,600 | | | | | $ | 631,857 | | |
Audit-Related Fees(2)
|
| | | | 19,950 | | | | | | 19,950 | | |
Tax Fees
|
| | | | 13,131 | | | | | | — | | |
All Other Fees
|
| | | | 17,096 | | | | | | 10,000 | | |
Total Principal Accounting Firm Fees
|
| | | $ | 697,777 | | | | | $ | 661,807 | | |
Name
|
| |
Series E
Preferred Stock Beneficially Owned |
| |
Percent of
Class(1) |
| |
Series F
Preferred Stock Beneficially Owned |
| |
Percent of
Class(2) |
| |
Common
Stock Beneficially Owned |
| |
Percent of
Class(3) |
| ||||||||||||||||||
Greater than 5% owners: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Betsy Zubrow Cohen(4)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 83,595 | | | | | | 4.59% | | |
Edward E. Cohen(5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 105,484 | | | | | | 5.80% | | |
EBC 2013 Family Trust(6)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 80,000 | | | | | | 4.40% | | |
Directors and Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Lester R. Brafman(7)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,702 | | | | | | 10.75% | | |
Daniel G. Cohen(8)
|
| | | | 4,983,557 | | | | | | 100% | | | | | | 22,429,541(9) | | | | | | 100% | | | | | | 4,189,796 | | | | | | 71.90% | | |
G. Steven Dawson(10)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 27,816 | | | | | | 1.53% | | |
Jack J. DiMaio, Jr.
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,733 | | | | | | 1.03% | | |
Jack Haraburda
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,384 | | | | | | * | | |
Diana Louise Liberto
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,438 | | | | | | * | | |
Joseph W. Pooler, Jr.(11)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 57,637 | | | | | | 3.17% | | |
All current executive officers and directors
as a group (7 persons)(12) |
| | | | 4,983,557 | | | | | | 100% | | | | | | 22,429,541 | | | | | | 100% | | | | | | 4,512,506 | | | | | | 77.44% | | |
Name
|
| |
Age
|
| |
Position
|
|
Lester R. Brafman | | |
60
|
| | Chief Executive Officer | |
Daniel G. Cohen | | |
53
|
| | Executive Chairman | |
Joseph W. Pooler, Jr. | | |
57
|
| | Executive Vice President, Chief Financial Officer and Treasurer | |
SPAC
|
| |
Business
Combination Target |
| |
Post-Business
Combination Trading Symbol |
| |
Business
Combination Closing Date |
| |
Founder Shares
Allocable to Solomon Cohen |
| |
Trading Price as
of April 17, 2023 |
| ||||||
FTAC Olympus Acquisition Corp.
|
| | Payoneer Global Inc. | | |
NASDAQ: PAYO
|
| | June 25, 2021 | | | | | 339,979 | | | | | $ | 5.67 | | |
FinTech Acquisition Corp. IV
|
| |
Perella Weinberg Partners
|
| | NASDAQ: PWP | | | June 24, 2021 | | | | | 204,562 | | | | | $ | 8.85 | | |
10X Capital Venture Acquisition Corp.
|
| | REE Automotive Ltd. | | | NASDAQ: REE | | | July 22, 2021 | | | | | 440,427 | | | | | $ | 0.3203 | | |
Atlas Crest Investment Corp.
|
| | Archer Aviation Inc. | | | NYSE: ACHR | | |
September 16, 2021
|
| | | | 155,957 | | | | | $ | 2.03 | | |
Virtuoso Acquisition Corp
|
| | Wejo Group Ltd. | | |
NASDAQ: WEJO
|
| | November 18, 2021 | | | | | 275,362 | | | | | $ | 0.4057 | | |
Athena Technology Acquisition Corp.
|
| | Heliogen, Inc. | | | NYSE: HLGN | | | December 30, 2021 | | | | | 578,093 | | | | | $ | 0.3333 | | |
Healthcare Capital Corp.
|
| | Alpha Tau Medical Ltd. | | |
NASDAQ: DRTS
|
| | March 7, 2022 | | | | | 131,563* | | | | | $ | 3.08 | | |