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Get filing alertsNNN REIT appoints two directors in staged succession for Feb 2027 board retirement
Filed August 17, 2026 · Period ending August 13, 2026 · ~1 min read
Key Changes
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Christina Chiu (President of Empire State Realty Trust, former COO/CFO) and Charles Mueller (Vivmark Residential trustee, former Progress Residential CEO) join the board October 1, 2026.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Director Betsy D. Holden notified the board of her planned retirement effective February 19, 2027; the two appointments are part of staged succession planning for this departure.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Both new directors are expected to join the Audit Committee, adding public REIT financial and operational expertise (Chiu served as CFO at Empire State Realty Trust; Mueller held CFO/COO roles at prior firms).
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
NNN REIT disclosed a planned board transition: two new independent directors join October 1, 2026, ahead of a February 2027 retirement. Christina Chiu brings public REIT leadership as President of Empire State Realty Trust (where she previously served as CFO and COO) and nearly 18 years at Morgan Stanley in real estate investment roles. Charles Mueller adds over three decades of real estate executive experience, including current board service at Vivmark Residential (the largest U.S. multifamily REIT, formed from the 2026 AvalonBay-Equity Residential merger) and prior CEO tenure at Progress Residential.
The staged succession—appointing replacements four months before the departure—suggests orderly governance planning. Both appointees have public REIT board or C-suite experience and are slated for the Audit Committee, maintaining financial oversight continuity. For retail holders, this is a routine governance matter with no immediate operational or strategic implications; the board is refreshing expertise in advance of a planned retirement.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company issued a press release announcing the appointment of Christina Chiu and Charles “Chaz” D. Mueller, Jr., as part of succession planning in preparation for Betsy D. Holden’s planned retirement
NNN REIT appointed Christina Chiu and Charles "Chaz" D. Mueller, Jr. to the board as part of succession planning. The appointments are in preparation for the planned retirement of director Betsy D. Holden. The 8-K references Item 5.02 for additional details on the retirement and appointments, though those details are not included in the provided excerpt.
Event · Exhibit 99.1
Added in current filing · verify on EDGAR →
Christina Chiu and Charles “Chaz” D. Mueller, Jr. will join its Board of Directors (“Board”), effective October 1, 2026. These strategic additions are part of the Company’s staged Board succession planning in preparation for Betsy D. Holden’s planned retirement from the Board on February 19, 2027.
NNN REIT is appointing two new directors, Christina Chiu and Charles Mueller, effective October 1, 2026, as part of a planned board succession. The appointments precede the scheduled retirement of current director Betsy D. Holden on February 19, 2027. This represents proactive governance planning to maintain board continuity and expertise.
Added in current filing · verify on EDGAR →
Ms. Chiu is currently the President of Empire State Realty Trust, a publicly traded REIT focused on premier office, retail, and multifamily properties in the New York metropolitan area. Prior to her appointment as President, Ms. Chiu served as Executive Vice President and both Chief Operating Officer and Chief Financial Officer. Before joining ESRT in 2020, Ms. Chiu spent nearly 18 years at Morgan Stanley, where she most recently served as Managing Director and Chief Operating Officer of the Global Listed Real Assets Investing business
Christina Chiu brings public REIT executive experience as President of Empire State Realty Trust, where she previously served as COO and CFO. She also has nearly 18 years of capital markets and real estate investment experience from Morgan Stanley, where she led capital raising, investor relations, and real estate investment oversight as Managing Director and COO of the Global Listed Real Assets Investing business.
Added in current filing · verify on EDGAR →
Mr. Mueller currently serves as a member of the Board of Trustees of Vivmark Residential, the combined company formed in 2026 through the merger of AvalonBay Communities and Equity Residential, creating the largest publicly traded multifamily apartment REIT in the United States. Prior to the merger, Mr. Mueller served on the Board of Directors of AvalonBay Communities beginning in 2022. He brings more than three decades of executive leadership experience spanning public REITs, capital markets, private real estate ownership groups, and large-scale property management operations. He has extensive experience at some of the largest and most successful residential real estate companies in the country, most recently as Chief Executive Officer of Progress Residential until his retirement in 2021.
Charles Mueller brings over three decades of real estate executive leadership, including current board service at Vivmark Residential (the merged AvalonBay-Equity Residential entity, the largest publicly traded multifamily REIT). He previously served as CEO of Progress Residential until 2021 and held senior roles at Irvine Company Apartment Communities and Archstone Communities. His experience spans public REITs, capital markets, and large-scale property operations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 18, 2026 · How we verify