NNN REIT (NNN) director defers board fees into 1,391 stock units

Rhea-AI Filing Summary

NNN REIT director Kamau Omari Witherspoon acquired additional equity-based compensation through a board fee deferral. On April 30, he received 1,391 shares of Common Stock-equivalent stock units at an indicated value of $43.52 per share, reflecting the deferral and conversion of compensation for Board and Committee services. Following this award, he directly holds 22,696 shares or share-equivalent units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Witherspoon Kamau Omari

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,391	$43.52	$61K

Holdings After Transaction: Common Stock — 22,696 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Stock units granted: 1,391 units Grant reference price: $43.52 per unit Total holdings after transaction: 22,696 shares/units

3 metrics

Stock units granted 1,391 units Grant/award acquisition on April 30, 2026

Grant reference price $43.52 per unit Value used for deferred Board and Committee compensation

Total holdings after transaction 22,696 shares/units Direct ownership following the Form 4 award

Key Terms

stock units, deferral, Board and Committee services

3 terms

stock units financial

"conversion into stock units of compensation otherwise payable for Board and Committee services"

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 financial

"Reflects the deferral under the Plan and conversion into stock units"

Board and Committee services financial

"compensation otherwise payable for Board and Committee services"

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^*

Witherspoon Kamau Omari

(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		1,391(1)	A	$43.52	22,696	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/ Kamau Omari Witherspoon	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 insider transaction did NNN REIT (NNN) director Kamau Omari Witherspoon report?

Director Kamau Omari Witherspoon reported an acquisition of 1,391 stock units tied to NNN REIT Common Stock. The units reflect deferred compensation for Board and Committee services, not an open-market share purchase or sale.

Was the NNN REIT (NNN) Form 4 transaction a market purchase or sale?

The Form 4 shows a grant/award acquisition, not a market trade. Compensation owed for Board and Committee work was deferred and converted into stock units, so no open-market buying or selling occurred in this transaction.

How many NNN REIT (NNN) shares or units does Kamau Omari Witherspoon hold after this filing?

After this compensation-related award, Kamau Omari Witherspoon directly holds 22,696 shares or share-equivalent units of NNN REIT Common Stock. This figure reflects his position immediately following the reported Form 4 transaction.

What was the reference price for the NNN REIT (NNN) stock units granted to the director?

The 1,391 stock units for Kamau Omari Witherspoon were valued at $43.52 per unit. This price is used to convert deferred Board and Committee compensation into equity-based units linked to NNN REIT Common Stock.

Why did NNN REIT (NNN) director compensation convert into stock units on this Form 4?

The footnote explains the transaction reflects deferral under a company plan. Compensation for Board and Committee services was deferred and then converted into stock units, providing equity-based pay instead of immediate cash.