KIMCO REALTY CORP
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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Jun 30, 2024 · Filed Aug 2, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Issuer Purchases of Equity Securities
The Company’s Board of Directors authorized the repurchase of up to 891,000 depositary shares of Class L preferred stock, 1,047,000 depositary shares of Class M preferred stock, and 185,000 depositary shares of Class N Preferred Stock par value $1.00 per share through February 28, 2026. The Company did not repurchase any Class L, Class M or Class N depositary shares during the six months ended June 30, 2024.
The Company has a common share repurchase program, which is scheduled to expire on February 28, 2026. Under this program, the Company may repurchase shares of its common stock, par value $0.01 per share, with an aggregate gross purchase price of up to $300.0 million. The Company did not repurchase any shares under the common share repurchase program during the six months ended June 30, 2024. As of June 30, 2024, the Company had $224.9 million available under this common share repurchase program.
During the six months ended June 30, 2024, the Company repurchased 740,406 shares of the Company’s common stock for an aggregate purchase price of $14.7 million (weighted average price of $19.81 per share) in connection with common shares surrendered or deemed surrendered to the Company to satisfy statutory minimum tax withholding obligations in connection with equity-based compensation plans.
The following table presents information regarding the shares of common stock repurchased by the Company during the three months ended June 30, 2024:
| Period | Total Number ofShares Purchased | Average Price Paidper Share | Total Number ofShares Purchased asPart of PubliclyAnnounced Plansor Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs(in millions) |
|---|---|---|---|---|
| April 1, 2024 – April 30, 2024 | 877 | $18.90 | - | $224.9 |
| May 1, 2024 – May 31, 2024 | 278 | 19.34 | - | $224.9 |
| June 1, 2024 – June 30, 2024 | 618 | 19.09 | - | $224.9 |
| Total | 1,773 | $19.04 | - |
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