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Pay vs Performance Disclosure | 4 Months Ended | 12 Months Ended | 20 Months Ended
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Apr. 28, 2022 | Dec. 31, 2024 USD ($) UsdPerShare | Dec. 31, 2023 USD ($) UsdPerShare | Dec. 31, 2022 USD ($) UsdPerShare | Dec. 31, 2021 USD ($) UsdPerShare | Dec. 31, 2020 USD ($) UsdPerShare | Dec. 31, 2023
Pay vs Performance Disclosure |  |  |  |  |  |  |
Pay vs Performance Disclosure, Table |  | Pay versus Performanc e As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between compensation actually paid (“CAP”) for our NEOs and certain financial performance of the Company. Please refer to "Compensation Discussion and Analysis" for a more complete discussion on how executive compensation relates to performance and how the Committee makes its decisions.
| Julian E. Whitehurst(2) |  | Stephen A. Horn, Jr.(3) |  | Average SCT Total for | Average CAP to | Value of Initial Fixed $100 Investment Base On: |  |  |  |
Year | SCT Total for CEO $ | CAP to CEO $ |  | SCT Total for CEO $ | CAP to CEO $ |  | Non-CEO NEOs $ | Non-CEO NEOs $ | Company TSR $ | Peer Group TSR(1) $ |  | Net Income $ |  | Core FFO per Share $
2024 | - | - |  | 8,418,498 | 7,051,148 |  | 2,115,652 | 1,923,107 | 99.27 | 87.69 |  | 396,835,000 |  | 3.32
2023 | - | - |  | 7,194,654 | 6,320,139 |  | 2,308,351 | 2,101,005 | 122.12 | 118.03 |  | 392,340,000 |  | 3.26
2022 | 5,010,993 | 9,118,484 |  | 6,776,699 | 8,868,801 |  | 2,544,244 | 3,624,286 | 99.13 | 100.62 |  | 334,626,000 |  | 3.14
2021 | 7,785,586 | 7,727,120 |  | - | - |  | 2,591,922 | 2,682,871 | 99.22 | 134.06 |  | 264,217,000 |  | 2.86
2020 | 5,594,166 | 2,108,174 |  | - | - |  | 2,344,128 | 1,166,529 | 80.65 | 94.88 |  | 210,859,000 |  | 2.59
(1) NNN’s peer group TSR is based on FNER, which is the index used for purposes of the performance graphs in Part II, Item 5 of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Compensation Discussion and Analysis. (2) The following represents the adjustments made to the SCT totals to derive the compensation actually paid to Mr. Whitehurst in his role as CEO. Mr. Whitehurst served as the CEO through the entire reporting period until his retirement on April 28, 2022.
Adjustments |  | 2022 $ | 2021 $ | 2020 $
Amounts reported in “Stock Awards” column of SCT |  | (3,413,088) | (4,306,835) | (3,704,914)
Fair value of outstanding and unvested equity awards granted in the current year |  | 4,994,125 | 4,529,787 | 2,617,686
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | 2,639,640 | (814,466) | (2,769,278)
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (188,929) | 72,371 | (9,880)
Addition for the common stock dividends paid on unvested stock awards |  | 75,743 | 460,677 | 380,394
Total Adjustments |  | 4,107,491 | (58,466) | (3,485,992)
(3) The following represents the adjustments made to the SCT total to derive the compensation actually paid to Mr. Horn in his role as CEO. Mr. Horn has served as the CEO since April 29, 2022.
Adjustments |  | 2024 $ | 2023 $ | 2022 $
Amounts reported in “Stock Awards” column of SCT |  | (5,808,642) | (4,385,780) | (3,958,062)
Fair value of outstanding and unvested equity awards granted in the current year |  | 5,193,551 | 3,718,014 | 5,152,995
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | (1,004,033) | (395,561) | 784,246
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (109,603) | (47,083) | (10,370)
Addition for the common stock dividends paid on unvested stock awards |  | 361,377 | 235,895 | 123,293
Total Adjustments |  | (1,367,350) | (874,515) | 2,092,102
(4) The following represents the adjustments made to the SCT totals for our non-CEO named executive officers to derive the average compensation actually paid for our non-CEO named executive officers.
Adjustments |  | 2024 $ | 2023 $ | 2022 $ | 2021 $ | 2020 $
Amounts reported in “Stock Awards” column of SCT |  | (1,034,154) | (1,112,801) | (1,100,638) | (1,140,025) | (1,178,281)
Fair value of outstanding and unvested equity awards granted in the current year |  | 924,656 | 973,724 | 1,511,141 | 1,199,019 | 740,821
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | (158,372) | (195,207) | 618,455 | (126,740) | (879,404)
Fair value of stock awards granted and vested in the current year |  | - | - | - | - | 29,913
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (36,641) | 11,248 | (10,217) | 18,156 | (31,578)
Addition for the common stock dividends paid on unvested stock awards |  | 111,966 | 115,690 | 61,301 | 140,539 | 140,930
Total Adjustments |  | (192,545) | (207,346) | 1,080,042 | 90,949 | (1,177,599)
(5) T he named executive officers included in the non-CEO named executive average for each year are as follows:
2024 | Messrs. Habicht and Adamo and Mses. Steffens and Miller
2023 | Messrs. Habicht, Tessitore and Adamo and Ms. Miller
2022 | Messrs. Habicht and Tessitore and Ms. Miller
2021 | Messrs. Horn, Habicht and Tessitore and Ms. Miller
2020 | Messrs. Horn, Habicht, Tessitore and Bayer
Company Selected Measure Name |  | Core FFO per Share |  |  |  |  |
Named Executive Officers, Footnote |  | (5) T he named executive officers included in the non-CEO named executive average for each year are as follows:
2024 | Messrs. Habicht and Adamo and Mses. Steffens and Miller
2023 | Messrs. Habicht, Tessitore and Adamo and Ms. Miller
2022 | Messrs. Habicht and Tessitore and Ms. Miller
2021 | Messrs. Horn, Habicht and Tessitore and Ms. Miller
2020 | Messrs. Horn, Habicht, Tessitore and Bayer
Peer Group Issuers, Footnote |  | (1) NNN’s peer group TSR is based on FNER, which is the index used for purposes of the performance graphs in Part II, Item 5 of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Compensation Discussion and Analysis. |  |  |  |  |
Adjustment To PEO Compensation, Footnote |  | (2) The following represents the adjustments made to the SCT totals to derive the compensation actually paid to Mr. Whitehurst in his role as CEO. Mr. Whitehurst served as the CEO through the entire reporting period until his retirement on April 28, 2022.
Adjustments |  | 2022 $ | 2021 $ | 2020 $
Amounts reported in “Stock Awards” column of SCT |  | (3,413,088) | (4,306,835) | (3,704,914)
Fair value of outstanding and unvested equity awards granted in the current year |  | 4,994,125 | 4,529,787 | 2,617,686
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | 2,639,640 | (814,466) | (2,769,278)
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (188,929) | 72,371 | (9,880)
Addition for the common stock dividends paid on unvested stock awards |  | 75,743 | 460,677 | 380,394
Total Adjustments |  | 4,107,491 | (58,466) | (3,485,992)
(3) The following represents the adjustments made to the SCT total to derive the compensation actually paid to Mr. Horn in his role as CEO. Mr. Horn has served as the CEO since April 29, 2022.
Adjustments |  | 2024 $ | 2023 $ | 2022 $
Amounts reported in “Stock Awards” column of SCT |  | (5,808,642) | (4,385,780) | (3,958,062)
Fair value of outstanding and unvested equity awards granted in the current year |  | 5,193,551 | 3,718,014 | 5,152,995
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | (1,004,033) | (395,561) | 784,246
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (109,603) | (47,083) | (10,370)
Addition for the common stock dividends paid on unvested stock awards |  | 361,377 | 235,895 | 123,293
Total Adjustments |  | (1,367,350) | (874,515) | 2,092,102
Non-PEO NEO Average Total Compensation Amount |  | $ 2,115,652 | $ 2,308,351 | $ 2,544,244 | $ 2,591,922 | $ 2,344,128 |
Non-PEO NEO Average Compensation Actually Paid Amount |  | $ 1,923,107 | 2,101,005 | 3,624,286 | 2,682,871 | 1,166,529 |
Adjustment to Non-PEO NEO Compensation Footnote |  | (4) The following represents the adjustments made to the SCT totals for our non-CEO named executive officers to derive the average compensation actually paid for our non-CEO named executive officers.
Adjustments |  | 2024 $ | 2023 $ | 2022 $ | 2021 $ | 2020 $
Amounts reported in “Stock Awards” column of SCT |  | (1,034,154) | (1,112,801) | (1,100,638) | (1,140,025) | (1,178,281)
Fair value of outstanding and unvested equity awards granted in the current year |  | 924,656 | 973,724 | 1,511,141 | 1,199,019 | 740,821
Change in fair value for equity awards outstanding and unvested at the end of the current year that were granted in a prior year |  | (158,372) | (195,207) | 618,455 | (126,740) | (879,404)
Fair value of stock awards granted and vested in the current year |  | - | - | - | - | 29,913
Change in fair value for equity awards vested in the current year that were granted in a prior year |  | (36,641) | 11,248 | (10,217) | 18,156 | (31,578)
Addition for the common stock dividends paid on unvested stock awards |  | 111,966 | 115,690 | 61,301 | 140,539 | 140,930
Total Adjustments |  | (192,545) | (207,346) | 1,080,042 | 90,949 | (1,177,599)
Compensation Actually Paid vs. Total Shareholder Return |  | The reported amount of compensation actually paid to our CEO, and the reported average amount of compensation actually paid to our non-CEO executive officers, is primarily driven by the value of our executives’ unvested equity. Further, as discussed in the Compensation Discussion and Analysis, our TSR is a component metric in our long-term incentive plan, and Core FFO per share is a component metric of our cash incentive bonus. As a result, the TSR figures reported above have a strong correlation to our executives’ calculated CAP, while Core FFO per share has a lesser degree of impact on and correlation to the compensation actually paid figures. |  |  |  |  |
Tabular List, Table |  | The following metrics represent the three most important financial performance measures as well as subjective strategic and individual goals used by the Company in setting NEO compensation for the most recent fiscal year: • Core FFO per share • Leverage ratio (total liabilities divided by gross book assets) • Subjective strategic and individual goals: • G&A expense • Acquisition volume • Portfolio occupancy |  |  |  |  |
Total Shareholder Return Amount |  | $ 99.27 | 122.12 | 99.13 | 99.22 | 80.65 |
Peer Group Total Shareholder Return Amount |  | 87.69 | 118.03 | 100.62 | 134.06 | 94.88 |
Net Income (Loss) |  | $ 396,835,000 | $ 392,340,000 | $ 334,626,000 | $ 264,217,000 | $ 210,859,000 |
Company Selected Measure Amount | UsdPerShare |  | 3.32 | 3.26 | 3.14 | 2.86 | 2.59 |
PEO Name | Julian E. Whitehurst |  |  |  |  |  | Stephen A. Horn, Jr.
Measure:: 1 |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Name |  | Core FFO per share |  |  |  |  |
Measure:: 2 |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Name |  | Leverage ratio (total liabilities divided by gross book assets |  |  |  |  |
Measure:: 3 |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Name |  | Subjective strategic and individual goals:•G&A expense•Acquisition volume•Portfolio occupancy |  |  |  |  |
Julian Whitehurst [Member] |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
PEO Total Compensation Amount |  | $ 0 | $ 0 | $ 5,010,993 | $ 7,785,586 | $ 5,594,166 |
PEO Actually Paid Compensation Amount |  | 0 | 0 | 9,118,484 | 7,727,120 | 2,108,174 |
Stephen Horn [Member] |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
PEO Total Compensation Amount |  | 8,418,498 | 7,194,654 | 6,776,699 |  |  |
PEO Actually Paid Compensation Amount |  | 7,051,148 | 6,320,139 | 8,868,801 |  |  |
PEO | Julian Whitehurst [Member] |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | 4,107,491 | (58,466) | (3,485,992) |
PEO | Julian Whitehurst [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | (3,413,088) | (4,306,835) | (3,704,914) |
PEO | Julian Whitehurst [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | 4,994,125 | 4,529,787 | 2,617,686 |
PEO | Julian Whitehurst [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | 2,639,640 | (814,466) | (2,769,278) |
PEO | Julian Whitehurst [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | (188,929) | 72,371 | (9,880) |
PEO | Julian Whitehurst [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  |  |  | 75,743 | 460,677 | 380,394 |
PEO | Stephen Horn [Member] |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (1,367,350) | (874,515) | 2,092,102 |  |  |
PEO | Stephen Horn [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (5,808,642) | (4,385,780) | (3,958,062) |  |  |
PEO | Stephen Horn [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | 5,193,551 | 3,718,014 | 5,152,995 |  |  |
PEO | Stephen Horn [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (1,004,033) | (395,561) | 784,246 |  |  |
PEO | Stephen Horn [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (109,603) | (47,083) | (10,370) |  |  |
PEO | Stephen Horn [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | 361,377 | 235,895 | 123,293 |  |  |
Non-PEO NEO |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (192,545) | (207,346) | 1,080,042 | 90,949 | (1,177,599) |
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (1,034,154) | (1,112,801) | (1,100,638) | (1,140,025) | (1,178,281) |
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | 924,656 | 973,724 | 1,511,141 | 1,199,019 | 740,821 |
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (158,372) | (195,207) | 618,455 | (126,740) | (879,404) |
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | 0 | 0 | 0 | 0 | 29,913 |
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | (36,641) | 11,248 | (10,217) | 18,156 | (31,578) |
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year |  |  |  |  |  |  |
Pay vs Performance Disclosure |  |  |  |  |  |  |
Adjustment to Compensation, Amount |  | $ 111,966 | $ 115,690 | $ 61,301 | $ 140,539 | $ 140,930 |

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