Form 4: Kimco Realty Corp. Executive VP, CFO Glenn Gary Cohen Reports Changes in Beneficial Ownership

Glenn Gary Cohen, Executive VP and CFO of Kimco Realty Corp., reports acquisition and disposal of common stock due to performance-based restricted stock award and tax withholding.

Summary

• Glenn Gary Cohen, the Executive VP and CFO of Kimco Realty Corp., filed a Form 4 detailing changes in beneficial ownership.
• On February 13, 2025, Cohen acquired 56,553 shares of common stock as a result of the company meeting certain performance criteria, with a value of $0.
• On the same day, Cohen disposed of 42,926 shares of common stock at a price of $22.29 for tax withholding purposes.
• Following these transactions, Cohen directly owns 642,973 shares of common stock and indirectly owns 18,592 shares through a 401(k).
• The restricted stock award was granted on February 13, 2022, and was based on Kimco's performance relative to its peer group and the National Association of Real Estate Investment Trust retail peers.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares due to meeting performance criteria suggests positive company performance. The disposal is simply for tax purposes and doesn't indicate negative sentiment.

Positives

• The acquisition of shares indicates that Kimco Realty Corp. met certain performance criteria relative to its peer group and the National Association of Real Estate Investment Trust retail peers, suggesting positive performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Performance-based equity awards are a common practice in the real estate industry to align executive compensation with company performance.
• Many REITs use similar metrics, such as relative total shareholder return compared to a peer group, to determine vesting of performance shares.
• Tax withholding upon vesting of restricted stock is a standard procedure.

Stakeholder Impact

• The acquisition of shares due to performance criteria being met could positively impact shareholder confidence.

Key Dates

Keywords

Form 4, Beneficial Ownership, Kimco Realty Corp, Glenn Gary Cohen, Restricted Stock, Performance Shares, Tax Withholding, Common Stock