Form 4: Tanger Inc. Executive Michael Bilerman Reports Tax-Related Stock Forfeiture

Executive Vice President, CFO, and CIO of Tanger Inc., Michael Bilerman, reports a stock forfeiture to cover tax liabilities related to vesting restricted shares.

Summary

• On March 17, 2025, Michael Bilerman, Executive Vice President, Chief Financial Officer, and Chief Investment Officer of Tanger Inc. (SKT), reported a transaction on Form 4.
• The transaction involved the forfeiture of 6,310 shares of common stock to satisfy a tax withholding liability related to the vesting of 11,409 restricted shares.
• The price per share was $31.95.
• Following the transaction, Bilerman directly owns 154,234 shares of Tanger Inc. common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard tax-related transaction. It doesn't inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Industry Context

Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates a routine transaction related to executive compensation and tax obligations, which is a common occurrence in publicly traded companies.

Comparison to Industry Standards

• Executive compensation practices, including stock vesting and tax withholding, are common across publicly traded REITs like Simon Property Group (SPG) and Macerich (MAC).
• The number of shares forfeited for tax purposes is proportional to the vested shares and the executive's tax bracket, aligning with standard practices.
• Form 4 filings are a standard requirement for insiders in all publicly listed companies, ensuring transparency and compliance with SEC regulations.

Key Dates