X0306 4 2016-02-12 0 0001270436 INSTITUTIONAL FINANCIAL MARKETS, INC. IFMI 0001578554 Brafman Lester Raymond INSTITUTIONAL FINANCIAL MARKETS, INC., 2929 ARCH STREET, 17TH FLOOR PHILADELPHIA PA 19104-2870 0 1 0 0 Chief Executive Officer Common Stock, par value $0.001 2016-02-12 4 A 0 154321 0 A 213402 D Mr. Brafman was awarded 154,321 restricted shares under the Second Amended and Restated Institutional Financial Markets, Inc. 2010 Long-Term Incentive Plan. The restrictions expire with respect to one-half of these restricted shares on January 31, 2017 and with respect to the remaining one-half of these restricted shares on January 31, 2018, in each case, so long as Mr. Brafman is then employed by the Issuer or any of its subsidiaries. /s/ Joseph W. Pooler, Jr., as attorney-in-fact 2016-02-16