Tanger Inc. (SKT) CFO reports tax-related forfeiture of vested shares on Form 4

Rhea-AI Filing Summary

Tanger Inc. executive officer Michael P. Bilerman reported an automatic share withholding related to equity compensation. On December 1, 2025, 32,267 restricted shares vested, and 17,839 shares of common stock were forfeited at a price of $33.58 per share to cover his tax withholding obligations. Following this tax-related forfeiture, he directly beneficially owns 136,395 shares of Tanger Inc. common stock. The filing reflects a routine administrative transaction tied to previously granted restricted stock, rather than an open-market sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bilerman Michael J

Role See Remarks

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	17,839	$33.58	$599K

Holdings After Transaction: Common Stock — 136,395 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

Bilerman Michael J

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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	12/01/2025		F(1)		17,839	D	$33.58	136,395	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. This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of shares held by the reporting person. On December 1, 2025, 32,267 restricted shares vested, with 17,839 shares withheld to cover tax withholding liability.

Remarks:

Title - Executive Vice President, Chief Financial Officer and Chief Investment Officer

	/s/ Eric Richardson, attorney-in-fact for Mr. Bilerman	12/03/2025
	** 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 insider transaction did Tanger Inc. (SKT) report for Michael P. Bilerman?

The report shows that 17,839 shares of Tanger Inc. common stock were forfeited on December 1, 2025 to cover a tax withholding liability tied to vested restricted shares.

Was the Tanger Inc. (SKT) Form 4 transaction an open-market sale?

No. The Form 4 states the forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of previously granted restricted shares.

How many restricted Tanger Inc. (SKT) shares vested for the executive?

On December 1, 2025, 32,267 restricted shares vested for the reporting person, according to the explanation of responses.

What is Michael P. Bilerman’s role at Tanger Inc. (SKT)?

He is listed as Executive Vice President, Chief Financial Officer and Chief Investment Officer of Tanger Inc.

How many Tanger Inc. (SKT) shares does the executive own after this tax withholding?

After the reported transaction, he beneficially owns 136,395 shares of Tanger Inc. common stock directly.

At what price were the Tanger Inc. (SKT) shares withheld for taxes?

The forfeited common stock shares were valued at $33.58 per share for purposes of satisfying the tax withholding liability.