Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 55

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 55
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1,814,802; and Ms. Miller - $1,669,989. In February 2025, the Compensation Committee determined the 2022 TSR grant performance metrics met the 68.7 th percentile resulting in 174.8% of target shares.

Payment of health benefits and other perquisites for one year following termination.

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(3)The amounts shown represent the following payments:

A cash payment multiple of the annual salary and a cash payment of the average annual bonus for the three contract years preceding termination, both payable in equal installments over a 12-month period. Multiples are as follows: 300% for Mr. Horn, 250% for Mr. Habicht, and 200% for Mses. Steffens and Miller and Mr. Adamo.

Early vesting of certain service-based and performance-based stock awards. Certain awards that are to be paid based upon actual future performance were calculated assuming “target” performance. If “maximum” performance is achieved, the payout of early vesting would result in: Mr. Horn - $17,223,953; Mr. Habicht - $7,546,711; Ms. Steffens - $1,325,215; Mr. Adamo - $1,814,802; and Ms. Miller - $1,669,989. In February 2025, the Compensation Committee determined the grant performance metrics met the 68.7 th percentile resulting in 174.8% of target shares.

Payment of health benefits and other perquisites for one year following termination.

A cash payment of prorated annual bonus at the “target” level for the year of termination, payable in a single sum if the Executive is terminated upon or following a change of control. As calculated as of December 31, 2024, Mr. Habicht would not be subject to a golden parachute excise tax and, therefore, would not receive an excise tax gross-up. No other NEO is entitled to receive any excise tax gross-up.

(4)The amounts shown represent the following payments:

A cash payment of 100% of annual salary payable in equal installments over a 12-month period.

Early vesting of certain service-based and performance-based stock awards. In February 2025, the Compensation Committee determined the 2022 TSR grant performance metrics met the 68.7 th percentile resulting in 174.8% of target shares.

Payment of health benefits and other perquisites