Form 4: Tanger Inc. Executive Vice President, CFO and CIO, Michael Bilerman, Reports Share Forfeiture for Tax Obligations

Michael Bilerman, Executive Vice President, CFO and CIO of Tanger Inc., forfeited 35,686 shares to cover tax liabilities related to the vesting of restricted shares.

Summary

• Michael Bilerman, an executive at Tanger Inc., reported a transaction involving the forfeiture of company stock.
• On November 29, 2024, 64,533 restricted shares vested for Mr. Bilerman.
• To cover tax withholding liabilities, 35,686 shares were forfeited.
• The forfeiture was executed at a price of $37.1 per share.
• Following the transaction, Mr. Bilerman directly owns 145,205 shares of Tanger Inc. common stock.

Sentiment

Score: 5

Explanation: The document reports a routine transaction related to executive compensation and tax obligations. It is neither positive nor negative for the company's performance.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It does not indicate any change in the company's performance or outlook.

Comparison to Industry Standards

• Stock forfeitures to cover tax liabilities are a standard practice in executive compensation across various industries.
• The number of shares forfeited is proportional to the tax obligations arising from the vesting of restricted stock, which is a common practice.
• Similar transactions are regularly reported by executives in other publicly traded companies, such as Simon Property Group (SPG) and Macerich (MAC), which are also in the REIT sector.

Stakeholder Impact

• The transaction has a neutral impact on shareholders as it is a standard procedure related to executive compensation.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Tanger Inc., Michael Bilerman, stock forfeiture, tax withholding, restricted shares, executive compensation, insider trading, SEC Form 4