Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 39

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 39
---
 or the Exchange Act except to the extent that the Company incorporated it by specific reference.

The Compensation Committee of the Company has reviewed and discussed the Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K with management. Based on such review and discussions, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement and in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, both filed with the SEC.

COMPENSATION COMMITTEE

Betsy D. Holden, Chairperson

David M. Fick

Edward J. Fritsch

<div align='center'>40</div>

Executive Compensation Tables

The following table shows total compensation paid or earned by the NEOs for the fiscal years ended December 31, 2024, 2023 and 2022.

<div align='center'>Summary Compensation Table</div>

| Name                                                                                                   
 and                                                                                                    
 Principal                                                                                              
 Position                                                                                               |     | Year |     |  Salary 
       $ |     |     Stock 
    Awards 
      $(1) |     |         Non- 
       Equity 
    Incentive 
         Plan 
 Compensation 
            $ |     | Bonus 
 $     |     |          All 
        Other 
 Compensation 
         $(2) |     |     Total 
         $ |
| (a)                                                                                                    |     |   -b |     |      -c |     |        -d |     |           -e |     | -f    |     |           -g |     |        -h |
| Stephen A. Horn, Jr. President and Chief Executive Officer                                             |     | 2024 |     | 925,000 |     | 5,808,642 |     |    1,665,000 |     | -     |     |       19,856 |     | 8,418,498 |
|                                                                                                        |     | 2023 |     | 825,000 |     | 4,385,780 |     |    1,964,531 |     | -     |     |       19,343 |     | 7,194,654 |
|                                                                                                        |     | 2022 |     | 700,000 |     | 3,958,062 |     |    2,100,000 |     | -     |     |       18,637 |     | 6