secwatch.observer — SEC 8-K summary
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Issuer:     NNN REIT, INC. (NNN)
CIK:        0000751364
Form:       8-K
Filed at:   2022-01-21T23:59:59+00:00
Accession:  0001193125-22-014868
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/0001193125-22-014868-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751364/000119312522014868/d209621d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-014868

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer