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AI brief of an SEC Form 8-K · NNN Reit (NNN)

NNN REIT signs new employment letter with executive Michelle L. Miller effective Jan. 1, 2025

Neutral Impact 3 of 5 leadership Written later

NNN REIT replaced the executive officer's 2018 employment agreement with a new employment letter and enrolled her in the company's Executive Severance and Change of Control Plan, both effective January 1, 2025. The filing sets a $350,000 base salary and severance terms tied to a two-times payment multiple, which matter to shareholders because they define potential future cash obligations to a senior officer.

Key points

  • Michelle L. Miller, Executive Vice President, Chief Accounting Officer and Chief Technology Officer, will receive an annual base salary of $350,000.
  • She is designated a participant in the Executive Severance and Change of Control Plan with a termination payment multiple of two and a change of control termination payment multiple of two.
  • Change of control protection period runs from three months before to 12 months after a change of control.
  • The letter and plan participation take effect January 1, 2025; the board committee approved the letter on December 16, 2024.

The filing

CompanyNNN Reit (NNN)
Form8-K, current report
Filed with the SECDec 17, 2024, 4:22 PM ET
Accession number0000950170-24-137241

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 17, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.