Form 4: Tanger Inc. Executive Thomas Guerrieri Jr. Reports Share Transactions

Thomas Guerrieri Jr., SVP, CAO of Tanger Inc., reports acquisition and disposal of common stock due to vesting of restricted shares and tax withholding.

Summary

• On February 27, 2025, Thomas Joseph Guerrieri Jr., SVP, CAO of Tanger Inc., reported transactions involving the company's common stock.
• These transactions include the conversion of 9,632 notional units into restricted common shares, the forfeiture of 2,097 shares to cover tax liabilities, and the grant of 3,896 restricted common shares under Tanger Inc.'s Amended and Restated Incentive Award Plan.
• Following these transactions, Guerrieri directly owns 66,393 shares of Tanger Inc. common stock.
• The conversion of notional units was based on Tanger's share price appreciation and TSR relative to its peer group over a three-year period.
• Vesting of the restricted common shares is contingent upon continued employment with Tanger Inc.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices and insider transactions, with no significant positive or negative implications for the company's outlook.

Positives

• The vesting of notional units into restricted common shares indicates that Tanger Inc. achieved certain share price and TSR targets.
• The grant of restricted common shares under the incentive plan aligns Guerrieri's interests with the company's long-term performance.

Negatives

• The forfeiture of shares to cover tax liabilities reduces the number of shares directly held by Guerrieri.

Risks

• The vesting of restricted shares is contingent upon continued employment, creating a potential risk if Guerrieri leaves the company before the vesting dates.

Future Outlook

The vesting schedule of the restricted common shares indicates a continued focus on long-term performance and retention of key personnel.

Industry Context

This filing is a routine disclosure of insider transactions and doesn't provide specific insights into broader industry trends. However, the use of TSR-based performance metrics is common in executive compensation within the real estate industry.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting changes in insider ownership.
• Employees are affected through the vesting of restricted shares and the incentive award plan.

Key Dates