Form 4: Tanger Executive Granted Restricted Stock, Covers Taxes

Tanger's SVP, CAO, Thomas Joseph Guerrieri JR, received a grant of 4,092 restricted common shares and subsequently forfeited 3,571 shares for tax withholding upon vesting.

Summary

• Thomas Joseph Guerrieri JR, SVP, CAO of Tanger Inc. (SKT), was granted 4,092 restricted common shares on February 13, 2026, under the company's Amended and Restated Incentive Award Plan.
• The restricted shares vest in one-third increments on February 15th of each of the first three calendar years following the grant, with accelerated vesting possible under certain conditions.
• On February 17, 2026, 7,827 restricted shares vested, leading to a forfeiture of 3,571 shares at a price of $33.82 per share to satisfy tax withholding liabilities.
• Following these transactions, Mr. Guerrieri's direct beneficial ownership of common stock stands at 65,779 shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a slightly positive development, reflecting routine executive compensation that aligns management's interests with long-term company performance, without indicating any significant operational or financial changes.

Positives

• The grant of restricted common shares aligns the interests of a key executive (SVP, CAO) with those of shareholders, promoting long-term retention and performance.
• The compensation structure, tied to future vesting, incentivizes sustained executive commitment to Tanger Inc.'s success.

Negatives

• The forfeiture of 3,571 shares, while standard for tax withholding upon vesting, represents a reduction in the executive's direct shareholding from the initial vested amount.

Future Outlook

The restricted common shares granted to the executive are scheduled to vest in three annual installments on February 15th of 2027, 2028, and 2029, subject to certain accelerated vesting conditions.

Management Comments

• The grant of restricted common shares is part of Tanger Inc.'s Amended and Restated Incentive Award Plan, designed to incentivize and retain key personnel.
• The forfeiture of shares was solely undertaken to satisfy tax withholding obligations related to the vesting of previously granted restricted shares.

Industry Context

StockSavvy.ai notes that the grant of restricted stock units (RSUs) and subsequent tax-related forfeitures upon vesting are standard practices in executive compensation across various industries, including real estate investment trusts (REITs) like Tanger Inc. This mechanism is widely used to align executive incentives with long-term shareholder value creation and ensure compliance with tax obligations.

Comparison to Industry Standards

• The use of restricted common shares as a component of executive compensation is a common practice among publicly traded companies, including peers in the retail REIT sector such as Simon Property Group (SPG) and Federal Realty Investment Trust (FRT).
• The vesting schedule over three years is typical for such grants, aiming to promote long-term retention and performance.
• The forfeiture of shares to cover tax withholding upon vesting is a standard, non-discretionary event, consistent with compensation practices observed across the S&P 500.

Stakeholder Impact

• Shareholders: Experience minor dilution from the issuance of new shares, but benefit from increased alignment of executive incentives with long-term company performance.
• Employees (Executive): The SVP, CAO, receives equity compensation, enhancing wealth accumulation and retention.

Next Steps

• Future vesting of the remaining restricted common shares on February 15th of 2027, 2028, and 2029.

Key Dates

Keywords

Tanger Inc., SKT, Restricted Stock, Executive Compensation, Insider Transaction, Form 4, Stock Grant, Tax Withholding, Beneficial Ownership