Tanger Inc. (SKT) director adds 538.96 deferred units; dividend reinvestment increased holdings

Rhea-AI Filing Summary

Jeffrey B. Citrin, a director of Tanger Inc. (SKT), reported on Form 4 that on 08/15/2025 he was credited with 538.96 deferred share units under the company’s Director Deferred Share Program at an attributed price of $32.47 per unit, bringing his total holdings to 149,481.97 deferred share units. The filing explains each deferred share unit equals one common share and becomes payable in common shares upon termination of his director service. Since his last Form 4, 93.51 deferred share units were added via a dividend reinvestment program. The Form 4 is signed by an attorney-in-fact on 08/18/2025.

Insights

Corporate Governance Expert

TL;DR: Director received deferred share units; routine compensation and dividend reinvestment recorded, no new cash sale or purchase reported.

This disclosure records non-cash compensation under an established director deferred share program. The units are equivalent to common shares but remain deferred and payable upon termination, so immediate voting or transfer implications are limited. The additional 93.51 units from dividend reinvestment modestly increased his stake. There is no evidence in the filing of open-market purchases or dispositions that would signal a change in the director's near-term view of the company.

Securities Analyst

TL;DR: Transaction is administrative and compensation-related; it is unlikely to materially affect SKT’s share count or capital structure.

The reported 538.96 deferred share units are granted or credited, not sold or exercised, and will convert to shares only upon termination of service, limiting immediate dilution. The filing quantifies total deferred units at 149,481.97 and notes 93.51 units from dividend reinvestment since the last filing, providing transparency on director holdings. No derivative transactions or cash sales are present.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CITRIN JEFFREY B

(Last) (First) (Middle)

3200 NORTHLINE AVENUE, SUITE 360

(Street)

GREENSBORO NC 27408

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TANGER INC. [ SKT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/15/2025		A		538.96(1)	A	$32.47	149,481.97(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents deferred share units issued pursuant to the Director Deferred Share Program of Tanger Inc. and Tanger Properties Limited Partnership. Each deferred share unit is equivalent to one common share. The deferred share units become payable in common shares upon termination of his service as a director.

2. Since the Reporting Person's last Form 4, 93.51 deferred share units were acquired through a dividend reinvestment program.

Remarks:

	/s/ Eric Richardson, attorney-in-fact for Mr. Citrin	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did SKT director Jeffrey Citrin report on Form 4?

The filing reports 538.96 deferred share units credited on 08/15/2025, increasing his total to 149,481.97 deferred share units.

Are the deferred share units immediately convertible to common stock for SKT?

No. The filing states each deferred share unit becomes payable in common shares upon termination of his director service.

Did Jeffrey Citrin purchase or sell SKT stock in this filing?

No. The transaction is recorded as acquisition of deferred share units under a director program and includes units from a dividend reinvestment program.

How many deferred share units were added via dividend reinvestment since the last Form 4?

The filing discloses that 93.51 deferred share units were acquired through dividend reinvestment since the prior Form 4.

When was the Form 4 signed and filed?

The signature block shows the form was signed by an attorney-in-fact on 08/18/2025.