Form 4: Tanger Inc. Executive Thomas Joseph Guerrieri JR Reports Stock Transactions

SVP and CAO of Tanger Inc., Thomas Joseph Guerrieri JR, reports acquisition of 11,659 common shares from notional unit conversion and disposition of 2,552 shares for tax withholding.

Summary

• On February 26, 2024, Thomas Joseph Guerrieri JR, SVP and CAO of Tanger Inc., acquired 11,659 shares of common stock through the conversion of notional units.
• These notional units converted into restricted common shares based on Tanger Inc.'s share price appreciation and TSR relative to its peer group over a three-year period.
• Also on February 26, 2024, Guerrieri disposed of 2,552 shares of common stock to satisfy tax withholding obligations related to the vesting of stock.
• Following these transactions, Guerrieri directly owns 66,782 shares of Tanger Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing reflects routine stock transactions related to executive compensation. The vesting of shares is a positive sign, but the tax-related sale is a neutral event.

Positives

• The vesting of notional units into common stock indicates that performance targets related to share price appreciation and TSR were met.

Negatives

• The disposition of shares to cover tax liabilities, while a common practice, slightly reduces the executive's holdings in the company.

Future Outlook

50% of the shares vested on February 26, 2024 and the remaining 50% will vest on February 15, 2025, contingent upon continued employment with Tanger Inc.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation matters.

Key Dates