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KIMCO REALTY : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders (form 8-K)

05/11/2015 | 12:54pm US/Eastern

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers.


On May 5, 2015, the Executive Compensation Committee of the Board of Directors (the "Committee") of Kimco Realty Corporation (the "Company") approved an increase in the annual compensation payable to Conor C. Flynn, the Company's President and Chief Operating Officer.

Effective May 5, 2015, Mr. Flynn's prospective annual base salary increased from $700,000 to $850,000. He will also be eligible to receive a target cash bonus in the annualized amount of $875,000 based on an evaluation of both the Company's performance and Mr. Flynn's individual performance, as determined and approved by the Committee.

Effective May 14, 2015, Mr. Flynn will receive long-term incentive equity grants of 1,050 shares of restricted stock vesting over four years, 25% on each anniversary of the award date, and 4,230 performance shares, vesting upon the Committee's determination that performance criteria have been met.

Effective January 1, 2016, upon Mr. Flynn's appointment as Chief Executive Officer, the Committee approved an award to be made to Mr. Flynn of retention grants of 100,000 shares of restricted stock vesting over five years, 20% on each anniversary of January 1, 2016, and of 100,000 shares of restricted stock, cliff vesting in five years, 100% on January 1, 2021.

Each of these grants to Mr. Flynn of restricted stock and performance shares are subject to the terms and conditions of the Company's 2010 Equity Participation Plan.

Item 5.07 Submission of Matters to a Vote of Security Holders.

The Company's annual meeting of stockholders was held on May 5, 2015. The Company previously filed with the Securities and Exchange Commission the 2015 proxy statement and related materials pertaining to this meeting. On the record date of March 16, 2015, there were 412,622,136 shares of the Company's common stock, par value $0.01 per share ("Common Stock") outstanding and eligible to vote.

Proposal 1: Election of Directors

Elected the following eight nominees to the Board of Directors to serve as directors until the next annual meeting of stockholders and until their respective successors are elected and qualify.


                Nominee        Votes For  Votes Withheld Broker Non-Votes
          Milton Cooper       345,134,908   7,197,271       22,238,965
          Philip E. Coviello  347,391,569   4,940,610       22,238,965
          Richard G. Dooley   288,735,139   63,597,040      22,238,965
          Joe Grills          334,438,330   17,893,849      22,238,965
          David B. Henry      347,626,131   4,706,048       22,238,965
          Frank Lourenso      334,445,560   17,886,619      22,238,965
          Colombe M. Nicholas 347,415,020   4,917,159       22,238,965
          Richard B. Saltzman 344,615,088   7,717,091       22,238,965


Proposal 2: Advisory Resolution to Approve the Compensation of our Named Executive Officers

Approved, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the Compensation Discussion and Analysis and the accompanying tables in our 2015 proxy statement. There were 347,090,325 votes for the proposal; 4,522,869 votes against the proposal; 718,985 abstentions; and 22,238,965 broker non-votes.

Proposal 3: Ratification of the Appointment of PricewaterhouseCoopers LLP as the Company's Independent Registered Public Accounting Firm

Ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ended December 31, 2015. There were 372,681,143 votes for the appointment; 1,340,241 votes against the appointment; 549,760 abstentions; and no broker non-votes.

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© Edgar Online, source Glimpses

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