---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-014868"
form_type: "8-K"
ticker: "NNN"
cik: "0000751364"
company_name: "NNN REIT, INC."
filed_at: "2022-01-21T23:59:59+00:00"
generated_at: "2026-06-27T16:39:36.786609+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-014868
- form_type: 8-K
- ticker: NNN
- cik: 0000751364
- company_name: NNN REIT, INC.
- filed_at: 2022-01-21T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/0001193125-22-014868-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/d209621d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-014868
- JSON: https://secwatch.observer/filing/0001193125-22-014868.json
- Plain text: https://secwatch.observer/filing/0001193125-22-014868.txt

## Key facts
- Executive change
  Stephen A. Horn Jr. was appointed as President and Chief Executive Officer at NNN REIT, INC..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/0001193125-22-014868-index.htm
- Executive change
  Julian E. Whitehurst departed as President and Chief Executive Officer at NNN REIT, INC..
  - Action: retire
  - Role: President and Chief Executive Officer
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/0001193125-22-014868-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.