Cohen & Co Inc. — Director's Dealing 2011

May 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSTITUTIONAL FINANCIAL MARKETS, INC. (IFMI)
CIK: 0001270436
Period of Report: 2011-05-12

Reporting Person: DAWSON G STEVEN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-12	Common Stock, $0.001 par value per share	G	8660	$0.00	Disposed	11854	Direct
2011-05-12	Common Stock, $0.001 par value per share	G	8660	$0.00	Acquired	17663	Indirect
2011-05-16	Common Stock, $0.001 par value per share	P	5000	$4.00	Acquired	22663	Indirect
2011-05-18	Common Stock, $0.001 par value per share	P	5000	$3.848	Acquired	27663	Indirect

Footnotes

F1: Upon vesting of restricted stock previously issued to the Reporting Person, the newly vested common stock was gifted to Corriente Private Trust. See footnote 2.

F2: These securities are held by Corriente Private Trust, an irrevocable trust (the "Trust"). The Reporting Person is the Primary Trustee and sole beneficiary of the Trust and has voting and investment control with respect to the securities in the Trust. The Reporting Person disclaims any interest in the securities beyond his pecuniary interest.