Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 42

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 42
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 | -2 |                                                           2,310 |     |  9,241 |     |  18,481 |     |                                                          - |     |                                          509,891 |
| Jonathan A. Adamo    |     | 2/14/2024 | -1 |                                                               - |     |      - |     |       - |     |                                                      3,494 |     |                                          138,782 |
|                      |     | 2/14/2024 | -2 |                                                           2,038 |     |  8,154 |     |  16,307 |     |                                                          - |     |                                          449,910 |
| Michelle L. Miller   |     | 2/14/2024 | -1 |                                                               - |     |      - |     |       - |     |                                                      3,261 |     |                                          129,527 |
|                      |     | 2/14/2024 | -2 |                                                           1,903 |     |  7,610 |     |  15,220 |     |                                                          - |     |                                          419,919 |

The amounts shown in column (f) reflect the service-based restricted stock issued under our 2017 Performance Incentive Plan in 2024. These shares are only subject to service-based vesting and vest 25% per year over a four-year period.

The amounts shown in columns (c), (d) and (e) reflect the performance-based stock grants issued under the Executive Compensation program. The potential stock award is based on our TSR performance relative to other REITs for the three-year period ending December 31, 2026. This performance-based stock award amount is determined in accordance with FASB ASC Topic 718, using a Monte Carlo simulation model.

Mr. Habicht will retire from the Company effective March 31, 2025.

<div align='center'>42</div>

The following table sets forth certain information with respect to equity awards outstanding as of December 31, 2024, for each of the NEOs. All shares are valued based on the Company’s closing stock price of $40.85 per share on December 31, 2024.

<div align='center'>Outstanding EquityAwards at Fiscal Year End</div>

|                      |     |                                                Stock Awards |    |                                                               |     |                                                                                                         |    |                                                                                                                         |
| Name                 |     | Number of Shares or