NNN REIT (NNN) director converts board fees into 1,049 stock units

Rhea-AI Filing Summary

NNN REIT director Elizabeth Gulacsy received an equity-based compensation award. On April 30, 2026, she acquired 1,049 shares of Common Stock at a reference price of $43.52 per share through a grant classified as a grant, award, or other acquisition.

According to the footnote, this reflects a deferral of compensation for Board and Committee services into stock units under a company plan, rather than an open-market purchase. Following the award, she directly holds 16,733 shares of NNN REIT common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gulacsy Elizabeth

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,049	$43.52	$46K

Holdings After Transaction: Common Stock — 16,733 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 1,049 shares Price per share: $43.52 per share Shares held after: 16,733 shares

3 metrics

Shares acquired 1,049 shares Grant, award, or other acquisition on April 30, 2026

Price per share $43.52 per share Reference price for Common Stock grant

Shares held after 16,733 shares Direct ownership following reported transaction

Key Terms

stock units, deferral under the Plan, Board and Committee services, grant, award, or other acquisition

4 terms

stock units financial

"conversion into stock units of compensation otherwise payable"

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"

Board and Committee services financial

"compensation otherwise payable for Board and Committee services"

grant, award, or other acquisition financial

"transaction code description: Grant, award, or other acquisition"

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^*

Gulacsy Elizabeth

(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		1,049(1)	A	$43.52	16,733	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/ Elizabeth C. Gulacsy	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)

FAQ

What did NNN (NNN REIT, INC.) director Elizabeth Gulacsy report on this Form 4?

Elizabeth Gulacsy reported receiving 1,049 shares of NNN REIT Common Stock as an equity grant. The award reflects deferred compensation for Board and Committee services, converted into stock units under a company plan instead of cash payment.

How many NNN REIT (NNN) shares did Elizabeth Gulacsy acquire and at what price?

She acquired 1,049 shares of NNN REIT Common Stock at a reference price of $43.52 per share. This was a compensation-related grant, not an open-market purchase, linked to her Board and Committee service compensation.

What are Elizabeth Gulacsy’s NNN REIT holdings after this reported transaction?

Following the grant, Elizabeth Gulacsy directly holds 16,733 shares of NNN REIT Common Stock. This total reflects the addition of 1,049 shares received as deferred compensation for her Board and Committee services.

Was the NNN (NNN REIT) Form 4 transaction an open-market buy or a compensation award?

The transaction was a compensation award, not an open-market buy. The filing states the shares reflect deferral of compensation for Board and Committee services into stock units under a plan, categorized as a grant, award, or other acquisition.

What does the Form 4 footnote say about the NNN REIT stock units received by Elizabeth Gulacsy?

The footnote explains the transaction reflects deferral under a plan and conversion into stock units of compensation otherwise payable for Board and Committee services. This clarifies the award is part of director compensation structure, not discretionary trading.