Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 19

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 19
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 and Nominating Committee consist solely of independent directors. The Board of Directors, upon the unanimous recommendation of the Governance and Nominating Committee, has determined that all current members of the Governance and Nominating Committee are “independent” as that term is defined in the NYSE listing standards.                                                                                                                                    |   |                                                                                                                                                                                                                                                                                                                |

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CompensationCommittee

General. The Board of Directors has established a Compensation Committee, which is governed by a written charter, a copy of which is available on our website athttp://www.nnnreit.com.

| Compensation Committee        |   |                                                                                                                                                                                                                                     |
| MEMBERS                       |   | COMMITTEE RESPONSIBILITIES                                                                                                                                                                                                          |
| Besty D. Holden (Chairperson) 
 David M. Fick                 
 Edward J. Fritsch             | • | Authorizes, in its sole discretion, the engagement of compensation consultants as needed or desired to evaluate executive officer and non-employee director compensation programs.                                                  |
|                               | • | Considers the recommendations of the CEO when determining the base salary and incentive performance compensation levels of other executive officers and when setting specific Company and individual incentive performance targets. |
| INDEPENDENT                   
 All Members                   | • | Approves all awards to any executive officer, director or associate under our equity incentive plan.                                                                                                                                |
| MEETINGS IN 2024              
 4                             | • | Approves and evaluates compensation plans, policies and programs for our executive officers and directors.                                                                                                                          |
|                               | • | Evaluates compensation policies and practices with respect to all associates and impact to the Company.                                                                                                                             |
|                               | • | Retains Pearl Meyer & Partners, LLC, an independent compensation consulting firm (“Pearl Meyer”), to assist in reviewing and evaluating the Company’s executive and non-employee director compensation programs.                    |
|                               | • | Administers the 2017 Performance Incentive Plan.                                                                                                                                                                                    |

Our executive compensation programs and philosophy are described in greater detail under the section entitled “Compensation Discussion and Analysis.”

Independence and Composition. The NYSE listing standards require that the Compensation Committee consist solely of independent directors. The Board of Directors, upon the unanimous recommendation of the Governance and Nominating Committee, has determined that all current members of the Compensation Committee are “independent” as that term is defined in the NYSE listing standards.

Independent Third-Party Compensation Consultants. The use of independent third-party consultants provides additional assurance that our executive compensation programs are reasonable