Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 32

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 32
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 if its discretion and flexibility in awarding compensation is not restricted, even though some compensation awards may result in non-deductible compensation expenses for income tax purposes. Therefore, the Committee has approved salaries and other awards for executive officers that were not fully deductible because of Section 162(m), and expects in the future to approve additional compensation that is not deductible for income tax purposes.

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Benchmarking

The Committee, with the assistance of Pearl Meyer, periodically reviews senior executive pay levels and practices disclosed by other comparable REITs to ensure that compensation opportunities provided to our NEOs remain competitive. For 2024, the Committee, determined that our Peer Group included Agree Realty Corporation, Brixmor Property Group, Inc., Camden Property Trust, EPR Properties, Federal Realty Investment Trust, Kimco Realty Corporation, Kite Realty Group Trust, Medical Properties Trust, Inc., Omega Healthcare Investors Inc., Realty Income Corporation, Regency Centers Corporation, Tanger Inc. and W. P. Carey, Inc. (collectively, the “Peer Group”).

|                                                                           | GICS                    |       |              |        Net 
  Operating |      Total | Equity Market | Enterprise | TSR (%)(3) |       |       |
| Company                                                                   | Industry                
 Description             |  

# of 
   EEs | Revenues (1) 
            $ | Income (1) 
          $ | Assets (2) 
          $ |       Cap (3) 
             $ |  Value (3) 
          $ |       1-Yr |  3-Yr |  5-Yr |
| Agree Realty Corporation                                                  | Retail REITs            |    72 |          601 |        528 |      8,184 |         7,277 |     10,144 |        17% |    4% |    4% |
| Brixmor Property Group Inc.                                               | Retail REITs            |   512 |        1,273 |        958 |      8,750 |         8,409 |     13,337 |        25% |    8% |   10% |
| Camden Property Trust                                                     | Residential REITs       | 1,640 |        1,557 |        996 |      8,947 |        12,379 |     15,875 |        21% |  -10% |    5% |
|