8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

November 17, 2021

NATIONAL RETAIL PROPERTIES, INC.

(Exact name of registrant as specified in its charter)

Maryland	001-11290	56-1431377
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

450 South Orange Avenue
Suite 900 Orlando, Florida	32801
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (407) 265-7348

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of exchange on which registered
Common Stock, $0.01 par value	NNN	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 17, 2021, the Board of Directors (the “Board”) of National Retail Properties, Inc. (the “Company”), pursuant to the recommendation of the Governance and Nominating Committee, increased the size of the Board from eight (8) to nine (9) directors and appointed Kamau Witherspoon to the Board of the Company, effective January 1, 2022.

Mr. Witherspoon is a Senior Vice President of Operations at Target Corporation, serving in that role since 2018. He previously served in various roles at Target Corporation from 2007 to 2015, including Senior Director of Store Operations. Between 2015 and 2018, Mr. Witherspoon was Chief Restaurant Excellence Officer, KFC U.S., with Yum! Brands, Inc., and Senior Vice President of Operational Performance & Readiness at UnitedHealth Group. Mr. Witherspoon served in the United States Navy from 1996 to 2007, rising to the rank of Lieutenant Commander. He is a graduate of Morehouse College, and received his MBA from Old Dominion University.

The Board is expected to appoint Mr. Witherspoon to serve on both the Audit Committee and the Governance and Nominating Committee.

No plan, contract or other arrangement was entered into at the time of his appointment or otherwise exists between Mr. Witherspoon and the Company.

Item 7.01. Regulation FD Disclosure.

On November 18, 2021, the Company issued a press release announcing the appointment of Mr. Witherspoon described above in Item 5.02. The press release is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise subject to the liabilities of such section, nor shall such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release, dated November 18, 2021

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NATIONAL RETAIL PROPERTIES, INC.
By:	/s/ Kevin B. Habicht
Name:	Kevin B. Habicht
Title:	Executive Vice President and Chief Financial Officer

Dated: November 18, 2021

EX-99.1

Exhibit 99.1

NEWS RELEASE

For information contact:

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348

November 18, 2021

KAMAU WITHERSPOON APPOINTED TO BOARD OF DIRECTORS

OF NATIONAL RETAIL PROPERTIES, INC.

Orlando, Florida, November 18, 2021 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Kamau Witherspoon was appointed to the Board of Directors.

“We are delighted that Kamau Witherspoon has agreed to join the Board of Directors of National Retail Properties,” said Jay Whitehurst, President and Chief Executive Officer. “Drawing on his experiences with Target, Yum Brands and the U.S. Navy, Kamau will bring valuable insights to our business strategy and execution. I look forward to working with Kamau as we continue to grow the company.”

“I am pleased to join Jay in welcoming Kamau Witherspoon to the Board of Directors of National Retail Properties. Kamau’s talents and perspective will further strengthen our Board as we look ahead to NNN’s continued growth and success,” said Steve Cosler, Chairman.

Mr. Witherspoon is a Senior Vice President of Operations at Target Corporation, serving in that role since 2018. He previously served in various roles at Target Corporation from 2007 to 2015, including Senior Director of Store Operations. Between 2015 and 2018, Mr. Witherspoon was Chief Restaurant Excellence Officer, KFC U.S., with Yum! Brands, Inc., and Senior Vice President of Operational Performance & Readiness at UnitedHealth Group. Mr. Witherspoon served in the United States Navy from 1996 to 2007, rising to the rank of Lieutenant Commander. He is a graduate of Morehouse College, and received his MBA from Old Dominion University.

450 S. Orange Ave., Suite 900   Orlando, FL 32801
(800) NNN-REIT   www.nnnreit.com

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2021, the company owned 3,195 properties in 48 states with a gross leasable area of approximately 33.0 million square feet and with a weighted average remaining lease term of 10.6 years. For more information on the company, visit www.nnnreit.com.

XML

Cover	Nov. 17, 2021
Entity Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 17, 2021
Entity File Number	001-11290
Entity Registrant Name	NATIONAL RETAIL PROPERTIES, INC.
Entity Central Index Key	0000751364
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	56-1431377
Entity Address, Address Line One	450 South Orange Avenue
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32801
City Area Code	407
Local Phone Number	265-7348
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NNN
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false