Kimco Realty Corp. Files Definitive Proxy Statement

Ticker: KIM-PN · Form: DEF 14A · Filed: Mar 25, 2024 · CIK: 879101

Kimco Realty Corp DEF 14A Filing Summary
FieldDetail
CompanyKimco Realty Corp (KIM-PN)
Form TypeDEF 14A
Filed DateMar 25, 2024
Risk Levellow
Pages15
Reading Time17 min
Key Dollar Amounts$2.8 billion, $57 million, $1.1 billion, $657.5 million, $0.24
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Kimco Realty, DEF 14A, Corporate Governance, Executive Compensation

TL;DR

<b>Kimco Realty Corp. has filed its Definitive Proxy Statement for the upcoming shareholder meeting.</b>

AI Summary

KIMCO REALTY CORP (KIM-PN) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. Kimco Realty Corp. filed a Definitive Proxy Statement (DEF 14A) on March 25, 2024. The filing covers the period ending May 7, 2024. The company's fiscal year ends on December 31. Kimco Realty Corp. is incorporated in Maryland. The company's principal executive offices are located in Jericho, NY.

Why It Matters

For investors and stakeholders tracking KIMCO REALTY CORP, this filing contains several important signals. This filing is a standard requirement for publicly traded companies to inform shareholders about matters to be voted on at the annual meeting, including executive compensation and director elections. Shareholders should review this document to understand the company's governance, executive pay structure, and any proposals that may impact their investment.

Risk Assessment

Risk Level: low — KIMCO REALTY CORP shows low risk based on this filing. The filing is a routine proxy statement, indicating no immediate or significant negative events.

Analyst Insight

Review the executive compensation details and any shareholder proposals to assess potential impacts on corporate governance and shareholder value.

Key Numbers

  • 2024-05-07 — Reporting Period End (Conformed Period of Report)
  • 2024-03-25 — Filing Date (As of Date)
  • 1231 — Fiscal Year End (Fiscal Year End)
  • 6798 — SIC Code (Standard Industrial Classification)

Key Players & Entities

  • KIMCO REALTY CORP (company) — Registrant
  • 0000879101 (company) — Central Index Key
  • 1934 Act (regulator) — SEC Act
  • MD (company) — State of Incorporation
  • NY (company) — State of Business Address
  • Jericho (company) — City of Business Address
  • 500 NORTH BROADWAY (company) — Street 1 of Business Address
  • March 25, 2024 (date) — Filing Date

FAQ

When did KIMCO REALTY CORP file this DEF 14A?

KIMCO REALTY CORP filed this Proxy Statement (DEF 14A) with the SEC on March 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by KIMCO REALTY CORP (KIM-PN).

Where can I read the original DEF 14A filing from KIMCO REALTY CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by KIMCO REALTY CORP.

What are the key takeaways from KIMCO REALTY CORP's DEF 14A?

KIMCO REALTY CORP filed this DEF 14A on March 25, 2024. Key takeaways: Kimco Realty Corp. filed a Definitive Proxy Statement (DEF 14A) on March 25, 2024.. The filing covers the period ending May 7, 2024.. The company's fiscal year ends on December 31..

Is KIMCO REALTY CORP a risky investment based on this filing?

Based on this DEF 14A, KIMCO REALTY CORP presents a relatively low-risk profile. The filing is a routine proxy statement, indicating no immediate or significant negative events.

What should investors do after reading KIMCO REALTY CORP's DEF 14A?

Review the executive compensation details and any shareholder proposals to assess potential impacts on corporate governance and shareholder value. The overall sentiment from this filing is neutral.

How does KIMCO REALTY CORP compare to its industry peers?

Kimco Realty Corp. operates as a Real Estate Investment Trust (REIT) in the United States.

Are there regulatory concerns for KIMCO REALTY CORP?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholder voting.

Industry Context

Kimco Realty Corp. operates as a Real Estate Investment Trust (REIT) in the United States.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholder voting.

What Investors Should Do

  1. Analyze the detailed breakdown of executive compensation for Named Executive Officers.
  2. Examine any shareholder proposals and the company's recommendation for voting.
  3. Review the election of directors and any changes in the board composition.

Key Dates

  • 2024-03-25: Filing Date — Definitive Proxy Statement filed
  • 2024-05-07: Reporting Period End — Period covered by the proxy statement

Year-Over-Year Comparison

This is a DEF 14A filing, which is a definitive proxy statement, indicating it follows any preliminary filings and is ready for distribution to shareholders.

Filing Stats: 4,350 words · 17 min read · ~15 pages · Grade level 17 · Accepted 2024-03-25 06:00:57

Key Financial Figures

  • $2.8 billion — ional Resilience Ended the year with $2.8 billion of immediate liquidity. Reported Conso
  • $57 million — asis points, representing approximately $57 million in future annual base rent. Dividend G
  • $1.1 billion — y & Capital Recycling Generated over $1.1 billion in net cash flow provided by operating
  • $657.5 million — ing activities and paid an aggregate of $657.5 million of dividends. Raised the quarterly div
  • $0.24 — mmon shares payable in December 2023 to $0.24 per share, an increase of 4.3% over the
  • $0.09 — nding period of the prior year. Paid a $0.09 per share special dividend as a result
  • $194.1 million — vidend as a result of Kimco receiving a $194.1 million special dividend payment from Albertson
  • $172.5 million — dominant grocery-anchored property for $172.5 million. Also, announced the $2.2 billion acqui
  • $2.2 billion — for $172.5 million. Also, announced the $2.2 billion acquisition of RPT Realty, that closed
  • $282.3 million — January 2024. Realized net proceeds of $282.3 million from the sale of 14.1 million shares of
  • $299.1 million — ck which were sold in February 2024 for $299.1 million. Total Return Performance Indexed to
  • $17.3 million — am Highlights Allocated an additional $17.3 million towards the Company's green bond, with
  • $373.8 million — towards the Company's green bond, with $373.8 million total allocated as of June 30, 2023.
  • $2 billion — ne 30, 2023. Amended and restated its $2 billion unsecured revolving credit facility wit

Filing Documents

executive compensation ("Say-on-Pay") as described in the Proxy Statement

executive compensation ("Say-on-Pay") as described in the Proxy Statement See page 22 3. Approval of an amendment to the charter of the Company to increase the number of authorized shares of stock See page 45 4. Ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024 See page 48 5. The transaction of any other business that may properly come before the meeting or any postponement(s) or adjournment(s) thereof Logistics Date: May 7, 2024 Time: 10:00 a.m. (Eastern Time). Online check-in will begin at 9:30 a.m. (Eastern Time). Place: Online only at: www.virtualshareholdermeeting.com/KIM2024 Record Date: The close of business on March 12, 2024 If you plan to attend the 2024 Annual Meeting of Stockholders (the "Annual Meeting") online, you will need the 16-digit control number included in your Notice of Internet Availability of Proxy Materials on your proxy card or on the instructions that accompany your proxy materials. During this virtual meeting, you may ask questions, and you will be able to vote your shares electronically. You may also submit questions in advance by visiting www.virtualshareholdermeeting.com/KIM2024. The Company will respond to as many inquiries as time allows. How to Vote or Authorize Your Proxy By Internet: www.proxyvote.com By Telephone: 1-800-690-6903 By Mail: Complete your proxy card and cast your vote by pre-paid mail Beneficial Owners: If you own shares registered in the name of a broker, bank or other nominee, please follow the instructions they provide on how to vote your shares. Proxy Voting: Please submit your proxy or voting instructions as soon as possible to instruct how your shares are to be voted at the Annual Meeting, even if you plan to attend the Annual Meeting. If you later vote at the Annual Meeting, your previously submitted proxy or voting instructions will not be used. YOUR V

Executive Compensation Committee Report

Executive Compensation Committee Report 34

Executive Compensation Tables

Executive Compensation Tables 35 Pay Versus Performance 42 Proposal 3: Amendment of Charter to Increase Number of Authorized Shares of Stock 45 Audit Committee Report 47 Proposal 4: Ratification of Independent Accountants 48 Beneficial Ownership 49 Other Matters 50 Information About the Annual Meeting 52 Why You are Receiving These Materials 52 How to Vote 52 Eliminating Duplicative Proxy Materials 53 Solicitation of Proxies 53 Other Business 53 Annex A 54 Annex B 57 kimcorealty.com 2024 Proxy Statement iii Table of Contents This page is intentionally left blank. Table of Contents About Kimco About Kimco Kimco Realty (NYSE: KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America's largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets. The company's portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of December 31, 2023, the company owned interests in 523 U.S. shopping centers and mixed-use assets comprising 90 million square feet ("SF") of gross leasable space. On January 2, 2024, Kimco Realty closed the acquisition of RPT Realty, which added 56 open-air shopping centers, comprising 13.3 million square feet of gross leasable area, to Kimco's portfolio.

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