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KIMKimco Realty

Real estate · REIT · NYSE
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The 10-K against last year's

137 changes: 11 added, 24 removed, 100 reworded, 2 quiet changes

10-K Feb 20, 2026 vs Feb 21, 2025
Risk FactorsRedline ↓
9.9%
of the text changed · 10,605 words now
20.7%
of the text changed · 9,885 words now

10-K 0001193125-26-060760 (2026-02-20) vs 10-K 0000950170-25-024723 (2025-02-21) Not compared: Legal Proceedings, Accounting Policies.

The redline

The paragraph that changed most in each section

Marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

Risk Factors 160 words changed in this paragraph; it is 66% similar to last year's version.
Scrutiny from investors and other stakeholders on how companies address a variety of sustainability-related matters, such as climate and human capital management, has increased in recent years. We engage in certain initiatives, including disclosures, to address such matters and related stakeholder expectations; however, such initiatives can be costly and may not have the desired effect. For example, as part of our sustainability efforts, we have adopted certain corporate responsibility goals, including greenhouse gas GHG emissions reduction targets and other initiatives. If we cannot meet these goals fully or on time, we may face reputational damage. Moreover, many corporate responsibility initiatives leverage methodologies and data that are complex, and in some cases subjective or prone to error or misinterpretation given the long timelines involved and the lack of an established single approach to identifying, measuring and reporting on many corporate responsibility matters. For example, we note that various relevant third-party standards continue to evolve, including those regarding the monitoring and accounting of GHG emissions, as well as any GHG emissions and reductions, continue to evolve. As with other companies, our approach to such corporate responsibility matters also evolves, and we cannot guarantee that our approach will align with any particular stakeholder’s expectations or preferences. Stakeholders (including policymakers) have varying, and at times conflicting, expectations. We may face reputational damage, including impacts to any related ratings, or additional costs in the event our sustainability procedures or standards do not meet the standards set and/or targets issued by various constituencies, and any failure to successfully navigate competing stakeholder interests may also result in adverse impacts to our business. Both advocates and opponents to certain corporate responsibility matters are increasingly resorting to a range of activism forms, including media campaigns and litigation, to advance their perspectives. To the extent we are subject to such activism, it may require us to incur costs or otherwise adversely impact our business. GHG

Source: Item 1A, 10-K 0001193125-26-060760 vs Item 1A, 10-K 0000950170-25-024723

MD&A 150 words changed in this paragraph; it is 46% similar to last year's version.
The increase decrease in Other income, net of $17.6 $26.0 million is primarily due to (i) a net increase in mortgage and other financing income of $17.6 million, primarily due to the issuance of new loan financing during 2024 and 2023, (ii) an increase decrease in interest income of $6.4 $14.9 million due resulting from lower cash balances during 2025 as compared to 2024, (ii) $6.9 million in higher levels of cash on hand, costs associated with potential transactions for which the Company is no longer pursuing, (iii) a decrease of $1.9 million from insurance proceeds received from 2025 as compared to 2024, (iv) a decrease of $1.5 million from settlement proceeds of a contract during 2024, (v) an increase in environmental remediation expense of $4.4 million, (iv) an increase in income of $3.8 million from settlement of contracts, and (v) an increase costs of $1.2 million from insurance proceeds, partially offset by million, and (vi) a decrease of $8.7 million relating to net settlement gains recognized upon liquidation of the Company’s defined benefit plan during 2023 and (vii) a decrease in dividend income of $6.9 $1.2 million, primarily due to the sale of the remaining shares of ACI common stock held by the Company. Company during 2024, partially offset by (vii) an increase of $2.2 million due to mark-to-market fluctuations of an embedded derivative liability.

Source: Item 7, 10-K 0001193125-26-060760 vs Item 7, 10-K 0000950170-25-024723

Every change, by type

Sentences and paragraphs added, removed or reworded

Sentences and paragraphs of KIM's Risk Factors and MD&A, 10-K 2026-02-20 against 10-K 2025-02-21. Each links to the text at sec.gov.

RemovedRisk Factors
We operate, are currently developing, and may in the future develop, properties either alone or through joint ventures with other persons that are known as “mixed-use” developments. This means that, in addition to the development of retail space, the project may also

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
A decline in the value of our other investments may require us to recognize an other-than-temporary impairment (“OTTI”) against such assets. When the fair value of an investment is determined to be less than its amortized cost at the balance sheet date, we assess whether the decline is temporary or other-than-temporary. If we intend to sell an impaired asset, or it is more likely than not that we will be required to sell the impaired asset before any anticipated recovery, then we must recognize an OTTI through charges to earnings equal to the entire difference between the asset’s amortized cost and its fair value at the balance sheet date. When an OTTI is recognized through earnings, a new cost basis is established for the asset, and the new cost basis may not be adjusted through earnings for subsequent recoveries in fair value.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedRisk Factors
services providers will be fully implemented, complied with, or effective or that security breaches or disruptions will not materially impact our business.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
In January of 2023, the Company completed the Reorganization into an UPREIT structure as described in the Explanatory Note at the beginning of this Annual Report. Prior to the Reorganization, the Company’s business was conducted through the Predecessor. This Annual Report includes the business and results of operations of the Predecessor for its fiscal year ended December 31, 2022. As a result of the Reorganization, the Company became the successor issuer to the Predecessor under the Exchange Act. The Company and Kimco OP have elected to co-file this Annual Report on Form 10-K to ensure continuity of information to investors. For additional information about the Reorganization, please see the Company’s Current Reports on Form 8-K filed with the SEC on January 3, 2023 and January 4, 2023.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
•Monetized the remaining 14.2 million shares of Albertsons Companies Inc. (“ACI”) common stock held by the Company, generating net proceeds of $299.1 million.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
•Obtained a $550.0 million unsecured term loan credit facility, in separate transactions, maturing in January 2026 (with three one-year options to extend to January 2029).

Read it in 10-K 2025-02-21 at sec.gov ↗

Show the other 7
RemovedMD&A
•Assumed $821.5 million of unsecured notes and term loans in conjunction with the RPT Merger, of which the Company repaid $511.5 million of unsecured notes in January 2024.

Read it in 10-K 2025-02-21 at sec.gov ↗

RemovedMD&A
Under the terms of the Merger Agreement, each 7.25% Series D Cumulative Convertible Perpetual Preferred Share of RPT was converted into the right to receive one depositary share representing one one-thousandth of a share of Class N Preferred Stock of the Company, having the rights, preferences and privileges substantially as set forth in the Merger Agreement, in each case, without interest, and subject to any withholding required under applicable law, upon the terms and subject to the conditions set forth in the Merger Agreement.

Read it in 10-K 2025-02-21 at sec.gov ↗

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