secwatch.observer — SEC 8-K summary
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Issuer:     NNN REIT, INC. (NNN)
CIK:        0000751364
Form:       8-K
Filed at:   2023-11-21T23:59:59+00:00
Accession:  0001193125-23-281481
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NNN REIT EVP, General Counsel Chris Tessitore to retire Jan 1, 2024; consulting agreement in place
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- Chris Tessitore steps down as General Counsel and Secretary on Nov 30, 2023, remains EVP until Jan 1, 2024 retirement.
- 15,740 time-based restricted stock units vest immediately; performance-based awards continue vesting with proration.
- Monthly consulting fee of $20,416.66 for up to 20 hours/week during the 12-month transition period.
- Non-competition and non-solicitation covenants expire Jan 1, 2025; health benefits and 2023 bonus included.
- Retirement and transition agreement filed as Exhibit 10.1; no named successor disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751364/000119312523281481/0001193125-23-281481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751364/000119312523281481/d935543d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-281481

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