NNN REIT Management

Management criteria checks 3/4

NNN REIT's CEO is Steve Horn, appointed in Apr 2022, has a tenure of 2.17 years. total yearly compensation is $7.19M, comprised of 11.5% salary and 88.5% bonuses, including company stock and options. directly owns 0.32% of the company’s shares, worth €22.46M. The average tenure of the management team and the board of directors is 5 years and 7.7 years respectively.

Key information

Steve Horn

Chief executive officer

US$7.2m

Total compensation

CEO salary percentage	11.5%
CEO tenure	2yrs
CEO ownership	0.3%
Management average tenure	5yrs
Board average tenure	7.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Steve Horn's remuneration changed compared to NNN REIT's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$7m	US$825k	US$392m
Sep 30 2023	n/a	n/a	US$386m
Jun 30 2023	n/a	n/a	US$367m
Mar 31 2023	n/a	n/a	US$343m
Dec 31 2022	US$7m	US$700k	US$334m
Sep 30 2022	n/a	n/a	US$308m
Jun 30 2022	n/a	n/a	US$298m
Mar 31 2022	n/a	n/a	US$293m
Dec 31 2021	US$3m	US$515k	US$264m
Sep 30 2021	n/a	n/a	US$255m
Jun 30 2021	n/a	n/a	US$228m
Mar 31 2021	n/a	n/a	US$202m
Dec 31 2020	US$2m	US$435k	US$210m
Sep 30 2020	n/a	n/a	US$212m
Jun 30 2020	n/a	n/a	US$218m
Mar 31 2020	n/a	n/a	US$247m
Dec 31 2019	US$2m	US$400k	US$258m
Sep 30 2019	n/a	n/a	US$227m
Jun 30 2019	n/a	n/a	US$242m
Mar 31 2019	n/a	n/a	US$234m
Dec 31 2018	US$2m	US$345k	US$258m
Sep 30 2018	n/a	n/a	US$293m
Jun 30 2018	n/a	n/a	US$272m
Mar 31 2018	n/a	n/a	US$260m
Dec 31 2017	US$2m	US$335k	US$217m

Compensation vs Market: Steve's total compensation ($USD7.19M) is above average for companies of similar size in the German market ($USD3.35M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.

CEO

Steve Horn (51 yo)

2yrs

Tenure

US$7,194,654

Compensation

Mr. Stephen A. Horn, Jr. also known as Steve, serves as President and Chief Executive Officer of NNN REIT, Inc. (formerly known as National Retail Properties, Inc.). since April 2022. He served as Chief Op...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Stephen Horn	President	2yrs	US$7.19m	0.32% $ 22.5m
Kevin Habicht	CFO, Executive VP	30.3yrs	US$3.84m	0.18% $ 12.5m
Michelle Miller	Chief Accounting Officer & Executive VP	8.1yrs	US$1.30m	0.040% $ 2.8m
Jonathan Adamo	Executive Vice President of Portfolio Operations	no data	US$1.47m	no data
Christopher Barry	Vice President of Corporate Communications & Investor Relations	no data	no data	no data
Gina Steffens	Executive VP	less than a year	no data	0.018% $ 1.2m
Margo Moeder	Vice President of Human Resources	no data	no data	no data
Matt Williams	Senior Vice President of Underwriting	no data	no data	no data
Mary Morrison	Senior Vice President of Financial Reporting & Operations	no data	no data	no data
Jon Adamo	Senior Vice President of Acquisitions	no data	no data	0.042% $ 2.9m
Sam Khatib	Director of Leasing & Asset Management	no data	no data	no data
Kella Schaible	Executive Assistant to CEO	no data	no data	no data

5.0yrs

Average Tenure

55yo

Average Age

Experienced Management: CZ2's management team is seasoned and experienced (5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Stephen Horn	President	2.2yrs	US$7.19m	0.32% $ 22.5m
Kevin Habicht	CFO, Executive VP	23.8yrs	US$3.84m	0.18% $ 12.5m
Pamela Kay Beall	Independent Director	7.7yrs	US$239.00k	0.016% $ 1.1m
Edward Fritsch	Independent Director	12.2yrs	US$250.25k	0.031% $ 2.2m
Steven Cosler	Independent Chairman	7.7yrs	US$328.75k	0.0091% $ 639.5k
Betsy Holden	Independent Director	5.2yrs	US$245.00k	0.0021% $ 145.2k
David Fick	Independent Director	13.4yrs	US$255.25k	0% $ 0
Elizabeth Gulacsy	Independent Director	1.7yrs	US$230.00k	0% $ 0
Kamau Witherspoon	Independent Director	2.3yrs	US$239.00k	0% $ 0

7.7yrs

Average Tenure

64yo

Average Age

Experienced Board: CZ2's board of directors are considered experienced (7.7 years average tenure).

NNN REIT Management

Management criteria checks 3/4

Key information

Recent management updates

NNN REIT, Inc., Annual General Meeting, May 15, 2024

Secretary recently sold €1.5m worth of stock

NNN REIT, Inc. Announces Retirement of Christopher P. Tessitore as an Executive Vice President, Appoints Gina M. Steffens as Successor

NNN REIT, Inc. Appoints Jonathan A. Adamo as Executive Vice President, Portfolio Operations

National Retail Properties, Inc. Appoints Elizabeth Castro Gulacsy to its Board of Directors

CFO, Executive VP recently sold €493k worth of stock

Recent updates

Upcoming dividend of US$0.56 per share

Fourth quarter dividend of US$0.56 announced

NNN REIT, Inc. Announces Quarterly Dividend, Payable on May 15, 2024

NNN REIT, Inc. to Report Q1, 2024 Results on May 01, 2024

NNN REIT, Inc., Annual General Meeting, May 15, 2024

NNN REIT, Inc. has filed a Follow-on Equity Offering.

Full year 2023 earnings released: EPS: US$2.17 (vs US$1.89 in FY 2022)

NNN REIT, Inc. Provides Earnings Guidance for the Fiscal Year 2024

Upcoming dividend of US$0.56 per share at 5.4% yield

NNN REIT, Inc. Announces Quarterly Dividend, Payable on February 15, 2024

NNN REIT, Inc. to Report Q4, 2023 Results on Feb 08, 2024

Secretary recently sold €1.5m worth of stock

NNN REIT, Inc. Announces Retirement of Christopher P. Tessitore as an Executive Vice President, Appoints Gina M. Steffens as Successor

Third quarter 2023 earnings released: EPS: US$0.59 (vs US$0.50 in 3Q 2022)

Upcoming dividend of US$0.56 per share at 6.4% yield

NNN REIT, Inc. Announces Quarterly Dividend, Payable on November 15, 2023

NNN REIT, Inc. to Report Q3, 2023 Results on Nov 01, 2023

NNN REIT, Inc. Appoints Jonathan A. Adamo as Executive Vice President, Portfolio Operations

NNN REIT, Inc. has completed a Follow-on Equity Offering.

Second quarter 2023 earnings released: EPS: US$0.54 (vs US$0.42 in 2Q 2022)

Upcoming dividend of US$0.56 per share at 5.0% yield

NNN REIT, Inc. Announces Quarterly Dividend, Payable on August 15, 2023

NNN REIT, Inc. to Report Q2, 2023 Results on Aug 02, 2023

NNN REIT, Inc.(NYSE:NNN) dropped from Russell 1000 Dynamic Index

First quarter 2023 earnings released: EPS: US$0.50 (vs US$0.47 in 1Q 2022)

Now 20% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$1.90 (vs US$1.51 in FY 2021)

National Retail Properties, Inc. Provides Earnings Guidance for the Year 2023

National Retail Properties, Inc. Declares Quarterly Dividend, Payable on February 15, 2023

National Retail Properties, Inc. to Report Q4, 2022 Results on Feb 09, 2023

Third quarter 2022 earnings released: EPS: US$0.50 (vs US$0.45 in 3Q 2021)

National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022

Upcoming dividend of US$0.55 per share

National Retail Properties, Inc. Declares Quarterly Dividend, Payable on November 15, 2022

National Retail Properties, Inc. to Report Q3, 2022 Results on Nov 02, 2022

National Retail Properties, Inc. Appoints Elizabeth Castro Gulacsy to its Board of Directors

CFO, Executive VP recently sold €493k worth of stock

Second quarter 2022 earnings released: EPS: US$0.42 (vs US$0.39 in 2Q 2021)

National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022

Upcoming dividend of US$0.55 per share

National Retail Properties, Inc. Declares Quarterly Dividend, Payable on August 15, 2022

National Retail Properties, Inc. to Report Q2, 2022 Results on Aug 03, 2022

National Retail Properties, Inc. Provides Earnings Guidance for the Year 2022

First quarter 2022 earnings released: EPS: US$0.47 (vs US$0.30 in 1Q 2021)

Upcoming dividend of US$0.53 per share

National Retail Properties, Inc. Declares Quarterly Dividend, Payable May 16, 2022

National Retail Properties, Inc. Appoints Stephen A. "Steve" Horn, Jr. to Board of Directors

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

National Retail Properties, Inc. Announces Impairment Results for the Quarter Ended December 31, 2021

Upcoming dividend of US$0.53 per share

Insufficient new directors

Third quarter 2021 earnings released: EPS US$0.45 (vs US$0.30 in 3Q 2020)

Equisset LLC, Casey Bachrodt and Phil Bundy acquired All Star Adventures from National Retail Properties, Inc. (NYSE:NNN).

National Retail Properties, Inc. Provides Earnings Guidance for the Year 2021

Second quarter 2021 earnings released: EPS US$0.39 (vs US$0.24 in 2Q 2020)

Upcoming dividend of US$0.53 per share

First quarter 2021 earnings released

An unknown buyer acquired 29 properties with an aggregate 355,000 square feet from National Retail Properties, Inc. (NYSE:NNN).

Upcoming dividend of US$0.52 per share

CFO, Executive VP recently sold €836k worth of stock

Chief Accounting Officer & Executive VP recently sold €236k worth of stock

New 90-day high: €35.60

Executive VP recently sold €1.1m worth of stock

Full year 2020 earnings released: EPS US$1.22 (vs US$1.56 in FY 2019)

Revenue misses expectations

National Retail Properties, Inc.(NYSE:NNN PRDCL) dropped from S&P U.S. Preferred Stock Index

National Retail Properties, Inc. to Report Q4, 2020 Results on Feb 11, 2021

Executive VP & COO recently sold €482k worth of stock

National Retail Properties, Inc. Announces the Retirement of Paul Bayer as Executive Vice President and Chief Investment Officer, Effective December 31, 2020