KIMCO REALTY CORP
For the period ended Mar 31, 2025. Filed May 2, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 2, 2025
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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. During the three months ended March 31, 2025, the Company repurchased the following Class N depositary shares:
| Period | Total Number ofDepositary Shares Purchased | Average PricePaid per 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) |
|---|---|---|---|---|
| January 1, 2025 - January 31, 2025 | 6,245 | $59.86 | - | n/a |
| February 1, 2025 - February 28, 2025 | 11,489 | 59.95 | - | n/a |
| March 1, 2025 - March 31, 2025 | 29,301 | 59.86 | - | n/a |
| Total | 47,035 | $59.88 | - |
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 three months ended March 31, 2025. As of March 31, 2025, the Company had $224.9 million available under this common share repurchase program.
During the three months ended March 31, 2025, the Company repurchased 517,414 shares of the Company’s common stock for an aggregate purchase price of $11.5 million (weighted average price of $22.30 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 March 31, 2025:
| 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) |
|---|---|---|---|---|
| January 1, 2025 - January 31, 2025 | 11,488 | $22.60 | - | $224.9 |
| February 1, 2025 - February 28, 2025 | 505,499 | 22.29 | - | $224.9 |
| March 1, 2025 - March 31, 2025 | 427 | 21.47 | - | $224.9 |
| Total | 517,414 | $22.30 | - |
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