NNN director receives 1,787 stock units as fees

NNN REIT, INC. director David M. Fick acquired 1,787 shares of Common Stock-equivalent stock units at a reference price of $43.52 per share.

Rhea-AI Filing Summary

NNN REIT, INC. director David M. Fick acquired 1,787 shares of Common Stock-equivalent stock units at a reference price of $43.52 per share. These units reflect the deferral under a company plan of compensation otherwise payable for Board and Committee services, converting that cash compensation into stock units.

Following this grant, Fick directly holds 70,965 shares or stock units in total. The transaction is characterized as a grant or award rather than an open-market purchase or sale, and represents routine director compensation paid in equity form.

Insider Trade Summary

Grant/Award: 1,787 shares

Grant/Award 1 txn

Insider FICK DAVID M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,787	$43.52	$78K

Holdings After Transaction: Common Stock — 70,965 shares (Direct)

Footnotes (1)

1. F1. Reflects the deferral under the Plan and conversion into stock units of compensation otherwise payable for Board and Committee services.

Key Figures

Stock units granted: 1,787 shares Reference price per share: $43.52 per share Holdings after transaction: 70,965 shares

3 metrics

Stock units granted 1,787 shares Grant of Common Stock-equivalent units on April 30, 2026

Reference price per share $43.52 per share Price associated with the 1,787 stock units granted

Holdings after transaction 70,965 shares Total direct holdings following the grant

Key Terms

Grant, award, or other acquisition, stock units, deferral under the Plan

3 terms

Grant, award, or other acquisition financial

"The transaction code description is “Grant, award, or other acquisition”."

stock units financial

"Reflects the deferral under the Plan and conversion into stock units of compensation."

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

deferral under the Plan financial

"Reflects the deferral under the Plan and conversion into stock units of compensation."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NNN (NNN) director David M. Fick report in this Form 4 filing?

Director David M. Fick reported receiving 1,787 Common Stock-equivalent stock units at $43.52 per share. These were granted as deferred compensation for Board and Committee services, increasing his direct holdings to a total of 70,965 shares or stock units.

Was the NNN (NNN) Form 4 transaction an open-market stock purchase?

No, the Form 4 does not show an open-market purchase. It records a grant of 1,787 stock units classified as a “Grant, award, or other acquisition,” reflecting deferred compensation for Board and Committee services rather than a discretionary market trade.

How many NNN (NNN) shares or units does David M. Fick hold after this grant?

After the reported grant, David M. Fick directly holds 70,965 shares or stock units of NNN REIT, INC. This total includes the newly acquired 1,787 stock units received as deferred compensation under the company’s plan for Board and Committee service.

What is the nature of the compensation reported in NNN (NNN) director Fick’s Form 4?

The compensation consists of deferred fees for Board and Committee services converted into 1,787 stock units. A footnote explains this deferral under a company plan, meaning cash fees otherwise payable were instead taken in equity-linked units tied to the company’s Common Stock.

How is the transaction in NNN (NNN) director Fick’s Form 4 coded and classified?

The transaction is coded “A” on the Form 4, described as a “Grant, award, or other acquisition.” It involves 1,787 non-derivative Common Stock-equivalent stock units at a reference price of $43.52, and is treated as an acquisition related to director compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/01/2026 - 04:15 PM EDT Learn about SEC filing dates

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^*

FICK DAVID M

(Last) (First) (Middle)

450 S. ORANGE AVE., SUITE 900

(Street)

ORLANDO FLORIDA 32801

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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

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

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

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	04/30/2026	04/30/2026	A		1,787(1)	A	$43.52	70,965	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. Reflects the deferral under the Plan and conversion into stock units of compensation otherwise payable for Board and Committee services.

	/s/ David M. Fick	05/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)