X0202 4 2007-01-16 0 0001355007 Cowen Group, Inc. COWN 0001361384 Conner Thomas K COWEN GROUP, INC. 1221 AVENUE OF THE AMERICAS NEW YORK NY 10020 0 1 0 0 CFO & Treasurer Common Stock 2007-01-16 4 A 0 3322 19.57 A 16125 D This is restricted stock that will vest with respect to 25% of the shares on each of the first and second anniversaries of the grant date and the remaining 50% of the shares on the third anniversary of the grant date. /s/ Thomas K Conner 2007-01-18