M&A - KIMCO REALTY CORP

Form Type: 11-K

Filing Date: 2025-06-26

Corporate Action: Merger

Type: New

Accession Number: 000095017025090113

Filing Summary: Kimco Realty Corporation filed its annual report on Form 11-K for its 401(k) plan covering the fiscal year ended December 31, 2024. The report is accompanied by financial statements for the plan, which demonstrate a growth in net assets available for benefits, from $206,133,910 in 2023 to $237,229,875 in 2024, reflecting a net increase due to contributions and investment performance. The report highlights an acquisition undertaken by Kimco Realty, where it merged with RPT Realty on January 2, 2024, enhancing the assets of the 401(k) plan by including those from RPT’s separate plan valued at approximately $10,628,408. The overall audit report states that the financial statements present fairly, in all material respects, the net assets of the plan in accordance with U.S. GAAP. Key additions and deductions are outlined, revealing significant contributions from both participants and the company, and noting an unusual discretionary contribution of 7.5% made in September 2023 to all active eligible participants. The report includes information about matching contributions and participant investment options in mutual funds and company stock. The financial health of the plan appears robust, driven by strong investor engagement and strategic company contributions that foster participant benefits.