Kimco Realty management check
KIM · Real Estate · Retail REITs · CEO Conor Flynn
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $167, against $176 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.54 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
2.1% of net income$11.6m of reported pay in fiscal 2025, against $554.4m of net income.
- n/a
Do they own the stock?
No recent CEO filingNo open-market insider buying or selling in the last six months.
- Flag
Are owners being diluted?
Share count growingDiluted shares changed +4.5% a year over the last three fiscal years. Stock-based pay was 1.6% of revenue in the latest year.
- Good
Is leadership stable?
4 leadership filings in 3 yearsCEO in the pay table: Conor Flynn. 4 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Real Estate.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 44 | 45 | |
| Pay for performance | 77 | 86 | |
| CEO cost | 23 | 23 | |
| Skin in the game | — | — | 32 |
| Dilution | 0 | 23 | |
| Stable leadership | 100 | 85 | |
| Clean books | 100 | 100 |
Closest peers
Others in Retail REITs, by management score. Kimco Realty is 20th of 29 in its sector.
Pay versus performance
From the proxy statement filed April 8, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Conor Flynn | $11.6m | $9.7m | $3.1m | $167 | $176 | $554.4m |
| 2024 | Conor Flynn | $10.9m | $18.4m | $3.9m | $184 | $184 | $375.7m |
| 2023 | Conor Flynn | $14.0m | $14.6m | $5.4m | $160 | $158 | $629.3m |
| 2022 | Conor Flynn | $11.6m | $11.1m | $4.8m | $151 | $142 | $100.8m |
| 2021 | Conor Flynn | $10.5m | $22.6m | $4.0m | $169 | $164 | $818.6m |
The board says pay is tied most to Adjusted FFO per Diluted Share. Its other key measures: Peer Group TSR, Adjusted FFO per diluted share, EBITDA, Leverage.
Insiders and the CEO's stake
No open-market insider buying or selling in the last six months.
Leadership and governance on file
- Jan 28, 2026Leadership change8-K 5.02
- Jan 21, 2026Leadership change8-K 5.02
- Apr 30, 2025Leadership change8-K 5.02
- Jan 21, 2025Leadership change8-K 5.02
Latest shareholder vote results: May 22, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $3.1bn returned to owners in buybacks and dividends, 125% of net income, and $151.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.4bn | $1.7bn | $1.8bn | $2.0bn | $2.1bn |
| Net income | $818.6m | $100.8m | $629.3m | $375.7m | $554.4m |
| Stock-based pay | $23.1m | $26.6m | $33.1m | $34.9m | $33.2m |
| Buybacks | — | — | $0 | $0 | $120.3m |
| Dividends | $380.3m | $542.3m | $654.4m | $682.8m | $711.7m |
| Diluted shares | 511m | 618m | 618m | 672m | 675m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.