Steven B. Tanger - Feb 20, 2025 Form 4 Insider Report for TANGER INC. (SKT)

Role
Director
Signature
/s/ Thomas J. Guerrieri Jr., attorney-in-fact for Mr. Tanger
Stock symbol
SKT
Transactions as of
Feb 20, 2025
Transactions value $
$0
Form type
4
Date filed
2/21/2025, 06:32 PM
Previous filing
Feb 28, 2024
Next filing
Feb 27, 2025
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SKT Limited Partnership Units exchangeable for Common Stock Award $0 +5.06K $0.00 5.06K Feb 20, 2025 Common Stock 5.06K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, are convertible, conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes.
F2 Reflects an award of Basic LTIP Units, issued in lieu of an award of restricted common shares. These Basic LTIP Units are scheduled to vest on February 15, 2026 (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations).
F3 Includes 5,060 Basic LTIP Units subject to time-based vesting.
F4 Does not include 2,879,797 Limited Partnership Units held by Tango 7 LLC that are exchangeable into shares of Tanger Inc. and considered indirectly beneficially owned by the Reporting Person.