Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 43

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 43
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636 in 2026, 6,158 in 2027 and 3,460 in 2028.

The service-based restricted shares vest as follows: 990 in 2025, 10,990 in 2026, 990 in 2027 and 990 in 2028.

The service-based restricted shares vest as follows: 7,249 in 2025, 15,749 in 2026, 4,248 in 2027 and 873 in 2028.

The service-based restricted shares vest as follows: 10,569 in 2025, 1,907 in 2026, 1,402 in 2027 and 816 in 2028.

The amounts shown in columns (d) and (e) reflect the "maximum" achievement levels under the long-term performance-based stock awards issued on February 15, 2023. The amount of the performance-based stock that will vest is based on the Company's TSR performance relative to other REITs for the three-year period ending December 31, 2025. For a detailed discussion of the long-term incentive compensation, see "Compensation Discussion & Analysis - Long Term Incentive Compensation."

The amounts shown in columns (d) and (e) reflect the “maximum” achievement levels under the long-term performance-based stock awards issued on February 14, 2024. The amount of the performance-based stock that will vest is based on the Company’s TSR performance relative to other REITs for the three-year period ending December 31, 2026. For a detailed discussion of the long-term incentive compensation, see “Compensation Discussion and Analysis - Long-Term Incentive Compensation.”

Mr. Habicht will retire from the Company effective March 31, 2025.

<div align='center'>43</div>

The following table sets forth certain information with respect to restricted and performance-based stock that vested during the fiscal year ended December 31, 2024.

<div align='center'>Option Exercises and Stock Vested</div>

|                      |     |        Stock Awards |     |                |
| Name                 |     |    Number of Shares 
 Acquired on Vesting 
                 (#) |     | Value Realized 
     on Vesting 
            ($) |
| (a)                  |     |                  -d |     |             -e |
| Stephen A. Horn, Jr. |     |              45,924 |     |      1,