Form 4: Kimco Director Gifts Shares to Family via LLC
Insider Transaction Report
Kimco Realty Director Philip E. Coviello Jr. reported gifting 40,123 shares of common stock held through an LLC to immediate family members.
Summary
- Philip E. Coviello Jr., a Director of Kimco Realty Corp. (KIM), reported a gift transaction on January 1, 2026.
- The transaction involved the disposition of 40,123 shares of Common Stock held indirectly through an LLC.
- This disposition represents a gift of LLC interest to Mr. Coviello Jr.'s immediate family members for no consideration.
- Following this transaction, Mr. Coviello Jr. remained the sole manager of the LLC and may still be deemed to beneficially own the securities held by the LLC.
- His beneficial ownership after the transaction includes 40,942 shares indirectly through the LLC, 83,495 shares directly, 85,000 shares indirectly through an IRA, and 10,000 shares indirectly through a Testamentary Trust, totaling 219,437 shares.
Sentiment
Score: 5
Explanation: The filing reports a personal insider transaction (a gift) with beneficial ownership largely retained, which is neutral regarding company performance or future outlook.
Positives
- The director, Philip E. Coviello Jr., continues to serve as the sole manager of the LLC from which the shares were gifted, implying continued oversight and potential beneficial ownership of the securities held by the LLC.
- The transaction was a gift to immediate family members for no consideration, which is a personal estate planning matter and not a sale for cash, suggesting no immediate intent to reduce exposure to the company for liquidity reasons.
Negatives
- The filing reports a disposition of 40,123 shares of common stock from an LLC associated with the director, reducing the directly reported indirect holdings.
Industry Context
This filing reports an individual insider transaction and does not provide information related to broader industry trends or competitive landscape.
Key Dates
| Date | Description |
|---|---|
| 01/01/2026 | Transaction date for the gift of common stock. |
| 01/05/2026 | Date of earliest transaction and filing date of the Form 4. |
Keywords
Kimco Realty, KIM, insider transaction, Form 4, director, common stock, gift, beneficial ownership
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