Item 7.01. Regulation FD Disclosure.

During the third quarter, Kimco Realty Corporation ("Kimco" or the "Company") initiated a restructuring plan, which includes a voluntary early retirement program (the "VERP") and the merging of the Company's Southern and Mid-Atlantic regions in order to streamline the organization.

The VERP was offered to certain eligible associates aged 55 or above with 10 years or more of service. The program excludes senior executive officers and other key Company leaders. Of the eligible employees that were able to participate in the VERP, 28 Kimco associates have elected to retire.

Separately, Paul D. Puma, Kimco's Southern Region President, has informed the Company of his intention to retire at the end of this year. As a result of this, Kimco will combine the Company's Mid-Atlantic and Southern regions, effective January 1, 2021, with the current Mid-Atlantic Region President, Wilbur Tom Simmons, overseeing the newly merged territory. This transition will enable Kimco to further consolidate several organizational functions between the two regions.

As a result of these activities, Kimco anticipates it will incur a one-time severance charge of approximately $9.0 million to $10.0 million which will impact Net Income and Funds From Operations during the third quarter of 2020.

The information set forth in this Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that Section. The information in this Item 7.01 shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

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