Cohen & Co Inc. — Director's Dealing 2013

Sep 27, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSTITUTIONAL FINANCIAL MARKETS, INC. (IFMI)
CIK: 0001270436
Period of Report: 2013-09-25

Reporting Person: COHEN DANIEL G (Director, See Remarks, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-09-25	Common Stock, par value $0.001	A	800000	$2.00	Acquired	800000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-09-25	Convertible Senior Promissory Note	$3.00	A		Acquired	2018-09-25	Common Stock, par value $0.001 (800000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.001	703142	Direct
Series E Voting Non-Convertible Preferred Stock	4983557	Indirect

Footnotes

F1: The reporting person is a trustee of EBC 2013 Family Trust ("EBC Trust") and the beneficiaries of EBC Trust are minor children of the reporting person. As a result, the reporting person may be deemed to be the beneficial owner of the 800,000 shares of common stock of Institutional Financial Markets, Inc. (the "Company") held by EBC Trust and of the convertible promissory note issued by the Company held by EBC Trust.

F2: Under certain circumstances, the Company can elect to pay interest on the convertible senior promissory note by increasing the principal amount of the note. If the Company elects this option, the number of shares into which the note converts will increase. The maximum number of shares of the Company's common stock (subject to customary anti-dilution adjustments) into which the note can convert is 1,189,104 shares (assuming no interest is paid in cash).