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NNN REIT, INC. Director's Dealing 2010

Apr 1, 2010

30741_dirs_2010-04-01_0dd0ecc1-6da6-4f57-a429-50452217f15a.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RETAIL PROPERTIES, INC. (NNN)
CIK: 0000751364
Period of Report: 2010-03-30

Reporting Person: Bayer Paul Eugene (Executive Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2010-03-30 Common Stock A 4744 $23.11 Acquired 84776 Direct
2010-03-30 Common Stock A 8302 $23.11 Acquired 93078 Direct

Footnotes

F1: The shares will vest 25% annually beginning in 2011 through 2014. The Reporting Person has voting and dividend rights on all of these shares, including unvested shares.

F2: The shares will vest in December 2012 based upon achieving certain performance measures. The reporting person has voting rights on the shares, even unvested shares. Dividends on the shares will accumulate, and the reporting person will receive the accumulated dividends related to any performance shares that vest. Shares that do not meet the performance measures will be forfeited.