Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 54

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 54
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 or Disability (1)             |  58,333 |                  - |   350,000 |                   852,903 |                         - | 21,975 |  1,283,211 |
| Other than Change in Control (2)    |       - |          1,616,666 |         - |                 1,135,099 |                         - | 21,975 |  2,773,740 |
| Change in Control (3)               |       - |          1,616,666 |         - |                 1,135,099 |                   350,000 | 21,975 |  3,123,740 |
| Employment Agreement Expiration (4) | 350,000 |                  - |   350,000 |                   852,903 |                         - | 21,975 |  1,574,878 |

(1)The amounts shown represent the following payments:

Payable in the case of death only and represents payment of two months of the Executive’s salary.

A cash payment of the prorated annual bonus at "target" level for the year of termination, payable in a single lump sum.

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 for spouse and dependents of Executive for one year following the event of death.

(2)The amounts shown represent the following payments:

A cash payment multiple of the annual salary and a cash payment multiple 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: 250% for Messrs. Horn and Habicht, 200% for Ms. Miller and 150% for Ms. Steffens 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 for each of the NEOs would be as follows: Mr. Horn - $17,223,953; Mr. Habicht - $7,546,711; Ms. Steffens - $1,325,215; Mr. Adamo - $