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NNN REIT, Inc. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and NNN REIT, Inc.’s Form 8-K, filed 2026-05-12 (Item 5.07 on EDGAR). Page generated 02 October 2026.

10Reported items
494Asset managers
4,555Fund votes
2026-05-12Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore NNN REIT, Inc. in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by NNN REIT, Inc.

These tallies are NNN REIT, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2026-05-12 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

NNN REIT, Inc. — official shareholder meeting results, meeting held 2026-05-12
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Pamela K. M. Beall	154,807,117	2,146,844	155,532	--	15,240,518	Majority: yes
Elect Director: David M. Fick	153,485,821	3,470,236	153,436	--	15,240,518	Majority: yes
Elect Director: Edward J. Fritsch	153,997,608	2,964,506	147,379	--	15,240,518	Majority: yes
Elect Director: Elizabeth C. Gulacsy	155,583,125	1,352,666	173,702	--	15,240,518	Majority: yes
Elect Director: Betsy D. Holden	153,648,879	3,314,363	146,251	--	15,240,518	Majority: yes
Elect Director: Stephen A. Horn, Jr.	155,369,506	1,594,572	145,415	--	15,240,518	Majority: yes
Elect Director: Kamau O. Witherspoon	155,344,706	1,581,794	182,993	--	15,240,518	Majority: yes
Proposal 2: An Advisory Vote on Executive Compensation The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers as set forth below:	151,646,947	5,056,586	405,960	--	15,240,518	Majority: yes
Proposal 3: Ratification of the Appointment of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm The appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending Decem	169,884,257	2,202,123	263,631	--	--	Majority: yes

Source: NNN REIT, Inc., Form 8-K, filed with the SEC on 2026-05-12 — read the filing on EDGAR.

How asset managers voted at the NNN REIT, Inc. 2025-2026 meeting

Each item below shows how the 494 asset managers that disclosed a NNN REIT, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of NNN REIT, Inc.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Non-binding advisory approval of the compensation of our named executive officers as described in this Proxy Statement.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 3 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 151,646,947AGAINST: 5,056,586

NNN REIT, Inc.’s own tally for this item (“Proposal 2: An Advisory Vote on Executive Compensation The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers as set forth below:”): 151,646,947 for, 5,056,586 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 80% for, 3% against (83% of the company cast a for/against vote).

The 475 asset managers below cast 98% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the total votes cast at the meeting.

FOR 98%

FOR: 98.3%AGAINST: 1.7%ABSTAIN: 0.0%NOT VOTED: 0.0%NO VOTE: 0.0%SPLIT: 0.0%

Largest asset managers voting on “Non-binding advisory approval of the compensation of our named executive officers as described in this Proxy S” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Fidelity	36,983,143	0	0	For
Vanguard	26,423,074	7	1	For
BlackRock	24,453,456	1,230	0	For
Victory Capital	14,149,705	0	0	For
State Street	9,979,692	0	0	For
Federated Hermes	6,009,277	0	0	For
Charles Schwab	5,809,193	0	0	For
GEODE CAPITAL MANAGEMENT, LLC	4,217,504	0	0	For
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	3,914,591	0	0	For
RUSH ISLAND MANAGEMENT, LP	2,580,626	0	0	For
AQR	2,182,665	0	0	For
SECURITY CAPITAL RESEARCH & MANAGEMENT INC	1,874,132	0	0	For
Northern Trust	1,812,088	0	0	For
MFS	1,774,616	0	0	For
EQUITY INVESTMENT CORP	1,445,948	0	0	For
MELLON INVESTMENTS Corp	1,288,456	0	0	For
Epoch Investment Partners, Inc.	983,273	0	0	For
Legg Mason	833,690	0	0	For
Clearbridge Investments, LLC	828,465	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
Amova Asset Management Co., Ltd.	656,042	0	0	For
Dimensional	652,511	0	0	For
Arbejdsmarkedets Tillaegspension	632,125	0	0	For
Legal & General Investment Management Ltd	0	625,633	0	Against

Showing the 25 largest of 475 asset managers. See all 475 in the interactive database.

2. RATIFICATION OF THE SELECTION OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2026.

AUDIT-RELATEDMajority of the votes cast: yes

Combines 3 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 169,884,257AGAINST: 2,202,123

NNN REIT, Inc.’s own tally for this item (“Proposal 3: Ratification of the Appointment of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm The appointment of Ernst & Young LLP as the Company's independent registered public accounti”): 169,884,257 for, 2,202,123 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 89% for, 1% against (91% of the company cast a for/against vote).

The 108 asset managers below cast 99.7% of the shares they voted on this item FOR (81,995,782 for, 186,149 against).

FOR 99.7%

FOR: 81,995,782 (99.7%)AGAINST: 186,149 (0.2%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “RATIFICATION OF THE SELECTION OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBE” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,810,317	8,534	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,225	191	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	260,000	0	0	For
Dimensional	241,159	0	0	For

Showing the 25 largest of 108 asset managers. See all 108 in the interactive database.

3. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Betsy D. Holden

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 153,648,879AGAINST: 3,314,363

NNN REIT, Inc.’s own tally for this item (“Elect Director: Betsy D. Holden”): 153,648,879 for, 3,314,363 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,814,501 for, 260,005 against).

FOR 99.6%

FOR: 81,814,501 (99.6%)AGAINST: 260,005 (0.3%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,847	5	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,416	0	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

4. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: David M. Fick

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 153,485,821AGAINST: 3,470,236

NNN REIT, Inc.’s own tally for this item (“Elect Director: David M. Fick”): 153,485,821 for, 3,470,236 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,783,993 for, 290,512 against).

FOR 99.5%

FOR: 81,783,993 (99.6%)AGAINST: 290,512 (0.4%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,846	5	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,225	191	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

5. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Edward J. Fritsch

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 153,997,608AGAINST: 2,964,506

NNN REIT, Inc.’s own tally for this item (“Elect Director: Edward J. Fritsch”): 153,997,608 for, 2,964,506 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 81% for, 2% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,814,362 for, 260,145 against).

FOR 99.6%

FOR: 81,814,362 (99.6%)AGAINST: 260,145 (0.3%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,847	5	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,276	140	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

6. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Elizabeth C. Gulacsy

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

99.1% Majority: yes · of votes cast

FOR 99.1%

FOR: 155,583,125AGAINST: 1,352,666

NNN REIT, Inc.’s own tally for this item (“Elect Director: Elizabeth C. Gulacsy”): 155,583,125 for, 1,352,666 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 82% for, 0.8% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,814,504 for, 260,002 against).

FOR 99.6%

FOR: 81,814,504 (99.6%)AGAINST: 260,002 (0.3%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,850	2	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,416	0	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

7. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Kamau O. Witherspoon

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 155,344,706AGAINST: 1,581,794

NNN REIT, Inc.’s own tally for this item (“Elect Director: Kamau O. Witherspoon”): 155,344,706 for, 1,581,794 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 82% for, 0.9% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,814,503 for, 260,002 against).

FOR 99.6%

FOR: 81,814,503 (99.6%)AGAINST: 260,002 (0.3%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,849	2	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,416	0	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

8. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Pamela K. M. Beall

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 154,807,117AGAINST: 2,146,844

NNN REIT, Inc.’s own tally for this item (“Elect Director: Pamela K. M. Beall”): 154,807,117 for, 2,146,844 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 82% for, 1% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.4% of the shares they voted on this item FOR (81,658,527 for, 415,978 against).

FOR 99.4%

FOR: 81,658,527 (99.4%)AGAINST: 415,978 (0.5%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,810,316	8,534	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,416	0	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

9. To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their successors are duly elected and qualified: Stephen A. Horn, Jr.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 155,369,506AGAINST: 1,594,572

NNN REIT, Inc.’s own tally for this item (“Elect Director: Stephen A. Horn, Jr.”): 155,369,506 for, 1,594,572 against, per its Form 8-K filed 2026-05-12 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 189,939,441 outstanding shares: 82% for, 0.9% against (83% of the company cast a for/against vote).

The 107 asset managers below cast 99.6% of the shares they voted on this item FOR (81,814,364 for, 260,142 against).

FOR 99.6%

FOR: 81,814,364 (99.6%)AGAINST: 260,142 (0.3%)ABSTAIN: 42,400 (0.1%)NOT VOTED: 144 (0.0%)

Largest asset managers voting on “To elect seven directors to serve for a term ending at the 2027 annual meeting of stockholders and until their” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	24,818,849	2	0	For
Fidelity	16,934,584	0	0	For
BlackRock	11,851,160	0	0	For
Victory Capital	6,108,378	0	0	For
State Street	3,608,276	140	0	For
Federated Hermes	2,979,397	0	0	For
Charles Schwab	2,894,692	0	0	For
MFS	1,774,616	0	0	For
Legg Mason	833,690	0	0	For
Brighthouse	688,280	0	42,400	For
Principal	697,846	0	0	For
ProShares	613,896	0	0	For
JPMorgan	462,663	0	0	For
WisdomTree	462,100	0	0	For
AIG/SunAmerica	397,967	0	0	For
Columbia Threadneedle	369,539	0	0	For
John Hancock	368,565	0	0	For
Jackson National	362,363	0	0	For
New York Life	343,723	0	0	For
TIAA	318,838	0	0	For
Empower	309,551	0	0	For
Equitable	300,068	0	0	For
Northern Trust	269,296	0	0	For
DOMINI INVESTMENT TRUST	0	260,000	0	Against
Dimensional	241,159	0	0	For

Showing the 25 largest of 107 asset managers. See all 107 in the interactive database.

10. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 5 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 151,646,947AGAINST: 5,056,586

The 17 asset managers below cast 56% of the shares they voted on this item FOR (648,337 for, 500,350 against).

FOR 56%AGAINST 44%

FOR: 648,337 (56.4%)AGAINST: 500,350 (43.6%)ABSTAIN: 58 (0.0%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at NNN REIT, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
APG Asset Management US Inc.	0	500,350	0	Against
Empower	309,551	0	0	For
LASALLE INVESTMENT MANAGEMENT SECURITIES LLC	200,110	0	0	For
CAMBIAR INVESTORS LLC	89,586	0	0	For
Lincoln Financial	16,106	0	0	For
BlackRock	10,939	0	0	For
TD Waterhouse Canada Inc.	8,483	0	0	For
Purpose Unlimited Inc.	8,053	0	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	4,000	0	0	For
Pinnacle Family Advisors, LLC	815	0	0	For
Convergence Investment Partners, LLC	589	0	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	58	Abstain
Baker Avenue Asset Management, LP	40	0	0	For
Modern Wealth Management, LLC	22	0	0	For
Tandem Financial, LLC	22	0	0	For
Wilshire Advisors LLC	14	0	0	For
Triton Financial Group Inc	7	0	0	For

Largest NNN REIT, Inc. shareholders voting in 2025-2026

Ranked by the number of NNN REIT, Inc. shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 189,939,441 shares outstanding at the time of that meeting.

Top NNN REIT, Inc. shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	Fidelity	19.47%
2	Vanguard	13.91%
3	BlackRock	12.87%
4	Victory Capital	7.45%
5	State Street	5.25%
6	Federated Hermes	3.16%
7	Charles Schwab	3.06%
8	GEODE CAPITAL MANAGEMENT, LLC	2.22%
9	MASSACHUSETTS FINANCIAL SERVICES CO /MA/	2.06%
10	RUSH ISLAND MANAGEMENT, LP	1.36%

Reported NNN REIT, Inc. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

NNN REIT, Inc. beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	13.81%	13F
BlackRock	13.65%	13F
FMR (Fidelity)	10.13%	13F
Vanguard Portfolio Management	8.76%	13G
State Street	5.97%	13F
Geode Capital	2.29%	13F
AQR Capital	2.03%	13F
Charles Schwab	1.57%	13F
Dimensional Fund Advisors	1.48%	13F
Morgan Stanley	1.32%	13F

Percentages above are of 189,939,441 shares outstanding, as reported by NNN REIT, Inc. on its Form 10-K dated 2026-01-30 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from NNN REIT, Inc.’s 10-K dated 2026-01-30. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At NNN REIT, Inc.'s shareholder meeting held 2026-05-12, in the 2025-2026 proxy season, 494 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,555 separate fund positions. Their filings are grouped here into 10 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Non-binding advisory approval of the compensation of our named executive officers as described… — FOR was 97% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: NNN REIT, Inc.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2026-05-12.

NNN REIT, Inc. proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).