CEO Jay Whitehurst to retire Apr 28; Steve Horn named successor effective Apr 29

NNN REIT, INC.

Whitehurst retires as President and CEO effective April 28, 2022; will serve as consultant for 20 months at $60k/month.
Steve Horn (current EVP/COO) appointed President and CEO effective April 29, 2022; base salary $750k.
Whitehurst's time-based restricted stock awards (55,184 shares) vest immediately; performance-based awards continue per original terms.
Horn designated as participant in new Executive Severance Plan with termination multiple of 2.5x and change-of-control multiple of 3x.

item 5.02 item 9.01

Executive movements

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Role change

Stephen A. Horn Jr.

President and Chief Executive Officer

NNN · NNN REIT, INC.

Effective: 2022-04-29
Filed: January 21, 2022, 6:59 PM ET

the Board has appointed Steve Horn, age 50, the Company’s current Executive Vice President and Chief Operating Officer, as Mr. Whitehurst’s successor effective as of April 29, 2022

Departed

Julian E. Whitehurst

President and Chief Executive Officer

NNN · NNN REIT, INC.

Effective: 2022-04-28
Successor: Stephen A. Horn Jr.
Filed: January 21, 2022, 6:59 PM ET

Jay Whitehurst, the Company’s President and Chief Executive Officer (the “President and CEO”) and a member of the Board of Directors (the “Board”) of the Company, and the Board mutually agreed that Mr. Whitehurst will retire from employment with the Company and as a member of the Board effective as of April 28, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen A. Horn Jr. was appointed as President and Chief Executive Officer at NNN REIT, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Board has appointed Steve Horn, age 50, the Company’s current Executive Vice President and Chief Operating Officer, as Mr. Whitehurst’s successor effective as of April 29, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Julian E. Whitehurst departed as President and Chief Executive Officer at NNN REIT, INC..

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

Jay Whitehurst, the Company’s President and Chief Executive Officer (the “President and CEO”) and a member of the Board of Directors (the “Board”) of the Company, and the Board mutually agreed that Mr. Whitehurst will retire from employment with the Company and as a member of the Board effective as of April 28, 2022

View on SEC.gov

NNN REIT, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-014868

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