NNN REIT (NNN) EVP Jonathan Adamo reports new stock awards

Rhea-AI Filing Summary

NNN REIT, INC. executive vice president Jonathan Adamo reported stock awards of common shares. On the reported date, he acquired 6,510 shares and a separate 30,382-share award at a grant price of $44.34 per share, both classified as grant or award acquisitions.

After these awards, his directly held common stock increased to 132,358 shares. The filing notes that some shares vest 25% annually from 2027 through 2030 with voting and dividend rights even before vesting, while another portion will vest on January 1, 2029 based on total shareholder return and carries no dividend rights until vested.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Adamo Jonathan

Role EVP Chief Portfolio Operations

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	6,510	$44.34	$289K
Grant/Award	Common Stock	30,382	$44.34	$1.35M

Holdings After Transaction: Common Stock — 101,976 shares (Direct)

Footnotes (1)

1. The shares will vest 25% annually beginning 2027 through 2030. The Reporting Person has voting and dividend rights on all of these shares, including unvested shares. Shares will vest on January 1, 2029 based upon achieving certain total shareholder returns. The Reporting Person has no dividend rights on these shares until the shares have vested.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Adamo Jonathan

(Last) (First) (Middle)

450 S. ORANGE AVE

SUITE 900

(Street)

ORLANDO FL 32801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NNN REIT, INC. [ NNN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Chief Portfolio Operations

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/17/2026	02/17/2026	A		6,510(1)	A	$44.34	101,976	D
Common Stock	02/17/2026	02/17/2026	A		30,382(2)	A	$44.34	132,358	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares will vest 25% annually beginning 2027 through 2030. The Reporting Person has voting and dividend rights on all of these shares, including unvested shares.

2. Shares will vest on January 1, 2029 based upon achieving certain total shareholder returns. The Reporting Person has no dividend rights on these shares until the shares have vested.

	/s/ Jonathan Adamo	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did NNN (NNN) executive Jonathan Adamo report?

Jonathan Adamo reported receiving stock awards of NNN REIT, INC. common shares. The Form 4 shows two grant or award acquisitions of 6,510 and 30,382 shares, both at a grant price of $44.34 per share, classified as non-derivative common stock.

How many NNN REIT, INC. shares does Jonathan Adamo hold after this Form 4?

After the reported stock awards, Jonathan Adamo directly holds 132,358 shares of NNN REIT, INC. common stock. This figure reflects his direct ownership following the grant or award acquisitions disclosed for the transaction date in the Form 4 filing.

What are the vesting terms for Jonathan Adamo’s time-based NNN stock awards?

One portion of Jonathan Adamo’s shares will vest 25% annually from 2027 through 2030. He has voting and dividend rights on all of these shares, including the unvested portion, according to the vesting footnote included in the Form 4 filing.

How do performance-based NNN shares for Jonathan Adamo vest and pay dividends?

Another portion of Jonathan Adamo’s shares will vest on January 1, 2029 based on achieving specified total shareholder returns. For these performance-based shares, he has no dividend rights until they vest, as disclosed in the Form 4 footnote.

What transaction code is used for Jonathan Adamo’s NNN stock awards?

The transactions use code “A,” which indicates a grant, award, or other acquisition. Both entries are non-derivative common stock awards categorized as grant or award acquisitions rather than open-market purchases or sales of NNN REIT, INC. shares.