Stephen Horn is President and Chief Executive Officer of NNN REIT, Inc. (NNN). The company reported total compensation of $9,730,926 for fiscal year 2025.
| Salary | $975,000 |
|---|---|
| Bonus | $0 |
| Stock awards | $6,664,544 |
| Option awards | $0 |
| Non-equity incentive plan | $2,069,437 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $21,945 |
| Total | $9,730,926 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure NNN REIT, Inc. filed March 23, 2026, accession 0001193125-26-118585.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | President and Chief Executive Officer | $975,000 | $0 | $6,664,544 | $0 | $2,069,437 | $0 | $21,945 | $9,730,926 |
| FY2024 | President and Chief Executive Officer | $925,000 | $0 | $5,808,642 | $0 | $1,665,000 | $0 | $19,856 | $8,418,498 |
| FY2023 | Chief Executive Officer and President | $825,000 | $0 | $4,385,780 | $0 | $1,964,531 | $0 | $19,343 | $7,194,654 |
| FY2022 | Chief Executive Officer and President | $700,000 | $0 | $3,958,062 | $0 | $2,100,000 | $0 | $18,637 | $6,776,699 |
| FY2021 | Chief Executive Officer and President | $515,000 | $0 | $1,474,411 | $0 | $1,184,500 | $0 | $15,283 | $3,189,194 |
Totals as disclosed in each year's own compensation disclosure for NNN REIT, Inc..
| Peer-group chief executive median | $10,844,185 |
|---|---|
| Difference from that median | $-1,113,258 |
| Percentile within the disclosed peer group | 36th |
| Peers with a disclosed figure | 14 |
Medians and percentiles are computed across the peer group NNN REIT, Inc. discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Stephen Horn this page | President and Chief Executive Officer | $9,730,926 |
| Kevin Habicht | Former Executive Vice President, Chief Financial Officer, Assistant Secretary and Treasurer | $3,458,317 |
| Vincent Chao | Executive Vice President, Chief Financial Officer, Assistant Secretary and Treasurer | $3,307,343 |
| Jonathan Adamo | Executive Vice President, Chief Portfolio Officer | $2,076,870 |
| Gina Steffens | Executive Vice President, General Counsel and Secretary | $1,933,961 |
| Michelle Miller | Executive Vice President, Chief Accounting Officer and Chief Technology Officer | $1,728,762 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full NNN REIT, Inc. compensation brief.
Stephen Horn's compensation sits inside NNN REIT, Inc.'s full executive and board picture — the peer group, pay against peers, incentive design and the board itself.