Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 10

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 10
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|                | ●  Corporate Governance Guidelines                                                        |
|                | ●  Incentive-Based Compensation Recoupment Policy ("Clawback Policy")                     |
| EFFECTIVENESS  
 and            
 ALIGNMENT      | ●  The Compensation Committee reviews our Company-wide compensation                       
 policies and practices to ensure those policies and plans are consistent with the         
 Company's culture and do not promote excessive risk taking inconsistent with              
 the Company's risk management philosophy                                                  |
|                | ●  Independent external consultant used to help ensure the executive                      
 compensation program and pay practices align with strategic priorities and                
 sound corporate governance                                                                |
|                | ●  Board has direct oversight over Corporate Sustainability matters and initiatives       
 through the Governance and Nominating Committee                                           |
|                | ●  Audit Committee oversight of all cyber risks and data privacy risks                    |
|                | ●  57% of independent directors are female, racially diverse or ethnically diverse        |

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Independence and Composition. Our Corporate Governance Guidelines and the rules and regulations of the New York Stock Exchange ("NYSE"), which we refer to as the NYSE listing standards, each requires that a majority of the Board of Directors are “independent” directors, as that term is defined in the NYSE listing standards.

Leadership Structure. The Board of Directors has determined that Mses. Beall, Holden and Gulacsy and Messrs. Cosler, Fick, Fritsch and Witherspoon, representing a majority of the Board of Directors, qualify as independent directors (the “Independent Directors”) as that term is defined in the NYSE listing standards. The Board of Directors made its determination based on information furnished by all directors regarding their relationships with us and our affiliates and research conducted by management. In addition, the Board of Directors consulted with our external legal counsel to ensure that the Board’s determination would be consistent with all relevant securities laws and regulations as well as the NYSE listing standards.

Our Board of Directors is led by a non-executive Chairperson of the Board. The Board of Directors believes that having its own leadership separate from our Chief Executive Officer provides the Board of Directors with an effective way to ensure that they are fully informed and have the opportunity to fully debate all important issues to fulfill their oversight responsibilities and hold management accountable for the performance of the Company. This also allows our Chief Executive Officer to focus his time on running our day-to-day business. Mr. Cosler has served as Chairperson of the Board since his election on May 1,