Company: NNN
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001193125-25-146859
Chunk: 86

Company: NNN REIT, INC.
Filing Date: 2025-06-25
Form: 424B5
Chunk 86
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 to make a control share acquisition could, under certain circumstances, compel our Board of Directors to call a special meeting of stockholders to consider the voting rights of the control shares. We could also present the question at any stockholders’ meeting on our own. If this provision becomes applicable to us, subject to certain conditions and limitations, we would be able to redeem any or all control shares. If voting rights for control shares were approved at a stockholders’ meeting and the acquirer were entitled to vote a majority of the shares entitled to vote, all other stockholders could exercise appraisal rights and exchange their shares for a fair value as defined by statute. Number of Directors.The number of directors may be increased or decreased pursuant to our bylaws, provided that the total number of directors may not be less than three, and not more than twelve. Under Maryland law and our articles of incorporation, directors are elected for one-year terms. Removal of Directors .Under our bylaws and charter, any director may be removed from office at any time, with or without cause, by the affirmative vote of the holders of a majority of the then outstanding capital stock entitled to vote for the election of directors. Vacancies on the Board of Directors .Our bylaws provide that, subject to the rights of any holders of preferred shares then outstanding, any vacancy on the Board of Directors, including a vacancy created by an increase in the number of directors, may be filled by vote of a majority of the remaining directors, or, if the remaining directors fail to act, at a meeting called for that purpose by the vote of a majority of the shares entitled to vote on the matter and present in person or by proxy. Each director so elected shall serve for the unexpired term of the director he is replacing. Meetings of Stockholders.Our bylaws provide for an annual meeting of stockholders to elect individuals to the Board of Directors and transact such other business as may properly be brought before the meeting. Special meetings of stockholders may be called by the Chairman of the Board of Directors, the Chief Executive Officer 30

or a majority of the members of the Board of Directors, and shall be called by the Secretary at the request in writing of the holders of not less than a majority of the outstanding shares of common stock entitled to vote. Our bylaws provide that any action required or permitted to be taken at a meeting of stockholders may be taken by unanimous written consent without a meeting. Advance Notice for Stockholder Nominations and Stockholder New Business Proposals .Our bylaws require