Form 4: SKT Officer Disposes 17,500 Shares; Holdings Now 92,665

Rhea-AI Filing Summary

Tanger Inc. (SKT) reporting person Leslie Swanson Gallardo, EVP and Chief Operating Officer, reported a sale of common stock on 09/05/2025. The filing shows 17,500 shares sold at a weighted average price of $34.74 per share (individual trade prices ranged $34.62–$34.83). Following the sale, Ms. Swanson Gallardo beneficially owned 92,665 shares, reported as direct ownership. The Form 4 was signed by an attorney-in-fact on 09/08/2025. The report is a Section 16 disclosure of an insider disposition and contains no additional commentary, derivatives, or plans disclosed in the filing.

Positive

• Timely compliance: The insider filed the Form 4 and it was signed, indicating adherence to Section 16 reporting requirements
• Clear transaction details: The filing lists transaction date, number of shares sold, weighted average price, and post-transaction holdings

Negative

• Insider selling: The EVP/COO disposed of 17,500 shares, which may be interpreted negatively by some investors despite lack of context

Insights

Financial Analyst

TL;DR: Insider sale of 17,500 shares at $34.74 reduces direct holdings to 92,665 shares; transaction appears routine and provides limited signal about company fundamentals.

The Form 4 documents a single non-derivative disposition by the EVP/COO on 09/05/2025. The sale size relative to the remaining holdings is modest and the filing does not indicate a Rule 10b5-1 plan or any derivative activity. For investors, this is a required disclosure of insider liquidity but does not itself reveal operational or financial changes at Tanger Inc.

Corporate Governance Expert

TL;DR: Officer sold shares; disclosure complies with Section 16 reporting but offers no governance red flags on its face.

The Form 4 is properly executed and signed by an attorney-in-fact, and it lists direct ownership after the sale. There is no indication of amendments, joint filings, or unusual transaction codes. Absent additional context—such as a 10b5-1 plan, timing around material events, or repeated pattern of sales—this single filing aligns with routine insider reporting obligations.

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

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^*

Swanson Gallardo Leslie

(Last) (First) (Middle)

3200 NORTHLINE AVE., 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		S		17,500	D	$34.74(1)	92,665	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 the weighted average sales price of multiple transactions ranging from $34.62 to $34.83.

Remarks:

	/s/ Eric Richardson, attorney-in-fact for Ms. Swanson Gallardo	09/08/2025
	** 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 Leslie Swanson Gallardo report on Form 4 for SKT?

She reported a sale of 17,500 common shares on 09/05/2025 at a weighted average price of $34.74, leaving 92,665 shares beneficially owned.

What was the price range for the SKT shares sold by the officer?

The filing states the transactions ranged from $34.62 to $34.83, with a weighted average of $34.74.

Does the Form 4 indicate the sale was part of a 10b5-1 trading plan?

No. The filing does not check or state that the transaction was made pursuant to a 10b5-1 plan.

How many shares did the reporting person own after the transaction?

After the reported sale, the reporting person beneficially owned 92,665 shares as direct ownership.

When was the Form 4 signed and by whom?

The Form 4 was signed on 09/08/2025 by Eric Richardson as attorney-in-fact for Ms. Swanson Gallardo.