Tanger Inc. filings document the reporting profile of a NYSE-listed retail REIT and its operating partnership structure. Form 8-K reports cover operating results, financial condition, Regulation FD supplemental portfolio information, material definitive agreements, and capital-structure actions involving Tanger Properties Limited Partnership.
Proxy materials describe annual meeting matters, board composition and refreshment, executive compensation, shareholder voting items, and corporate governance practices. The filing record also includes disclosures on common shares, unsecured term loans, exchangeable senior notes, guarantees, liquidity, portfolio operating metrics, and the risks and obligations tied to owning and operating outlet and open-air retail shopping centers.
MATHRANI SANDEEP reported acquisition or exercise transactions in this Form 4 filing.
Tanger Inc. director Sandeep Mathrani reported an equity award of 5,207 shares of common stock in the form of deferred share units. These units were granted at a price of $0.00 per share as director compensation and increase his directly owned common stock to 36,143 shares.
Each deferred share unit is equivalent to one common share and will vest, with restrictions ending, on February 15, 2027, subject to possible accelerated vesting in cases such as death or certain involuntary terminations. The units are scheduled to be settled and paid in common shares on December 1, 2027.
Tanger Inc. director Luis A. Ubinas reported an equity award in the form of deferred share units. He acquired 5,207 deferred share units of common stock at a stated price of $0.00 per unit as a grant under Tanger’s Director Deferred Share Program.
Each deferred share unit is equivalent to one common share. These units vest and related restrictions lapse on February 15, 2027, with potential accelerated vesting in cases such as death or certain involuntary terminations, and they are payable in common shares when his board service ends. Since his last Form 4, an additional 2,251.93 deferred share units were acquired through a dividend reinvestment program. Following this award, his direct holdings total 69,190.26 common shares-equivalent.
Tanger Inc. officer Jessica K. Norman reported two equity-related transactions. On February 17, 2026, 3,488 shares of common stock were disposed of at $33.82 per share to satisfy tax withholding tied to the vesting of 6,507 restricted shares, leaving her with 29,906 common shares held directly. Separately, on February 13, 2026, she received an award of 10,712 Basic LTIP Units of Tanger Properties Limited Partnership at a stated price of $0.00 per unit. These Basic LTIP Units are designed as profits interests, can convert into non-voting Class C Common Units, and may ultimately be exchanged on a one-for-one basis for Tanger Inc. common shares, with vesting scheduled in one-third increments each February 15 over the first three years following the grant, subject to certain acceleration conditions.
Tanger Inc. President & CEO Stephen Yalof reported two equity-related transactions. On February 17, 2026, 50,706 shares of common stock were disposed of in a tax-withholding transaction at $33.82 per share to cover taxes on vesting, leaving him with 780,904.838 common shares held directly.
On February 13, 2026, he received an award of 49,391 Basic LTIP Units of Tanger Properties Limited Partnership at a stated price of $0.00 per unit. These Basic LTIP Units are intended as profits interests and, upon vesting and certain tax-related conditions, convert into non-voting Class C Common Units that may be exchanged one-for-one for Tanger Inc. common shares. The Basic LTIP Units are scheduled to vest in three equal installments on February 15 of each of the first three calendar years following the grant, subject to specified accelerated vesting conditions.
Tanger Inc. officer Michael J. Bilerman reported two equity-related transactions. On February 17, 2026, 14,577 restricted shares vested, with 7,556 common shares withheld at $33.82 per share to cover tax liabilities, leaving him with 128,839 common shares. Separately, on February 13, 2026, he received 20,828 Basic LTIP Units of Tanger Properties Limited Partnership at $0.00 per unit. These units are scheduled to vest in three equal installments each February 15 of the first three years after grant and can ultimately be exchanged one-for-one for Tanger Inc. common shares if vesting and tax allocation conditions are met.
Vanguard Portfolio Management LLC has filed a Schedule 13G reporting beneficial ownership of 11,943,299 shares of Tanger Inc common stock, representing 10.37% of the class as of the event date January 30, 2026.
The firm reports shared voting power over 93,907 shares and shared dispositive power over 11,943,299 shares, with no sole voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Tanger Inc.
The filing also notes an internal realignment at The Vanguard Group, Inc. on January 12, 2026, after which portfolio management and proxy voting responsibilities are carried out by Vanguard Portfolio Management LLC and certain affiliates, which now report beneficial ownership on a disaggregated basis.
Tanger Properties Limited Partnership, the operating partnership of Tanger Inc., issued $250 million of 2.375% Exchangeable Senior Notes due 2031 in a private Rule 144A offering, guaranteed on a senior unsecured basis by Tanger Inc. Net proceeds were about $243 million.
The partnership used about $9 million to enter capped call transactions and about $20 million to repurchase roughly 0.6 million common shares at $33.92 per share. It intends to use remaining proceeds, together with term loan funds, to repay borrowings under unsecured credit lines and to repay its $350 million 3.125% senior notes due September 1, 2026, with any balance for general corporate purposes, including additional debt repayment.
The notes are initially exchangeable at 24.0662 common shares per $1,000 principal amount (an implied exchange price of about $41.55, a 22.5% premium to the reference share price). Tanger also entered registration rights and capped call arrangements, with the capped calls initially capped at $47.4880 per share, to help manage potential exchange-related share dilution and cash outlays.
FMR LLC and Abigail P. Johnson report significant ownership in Tanger Inc. common stock as of 12/31/2025. They beneficially own 11,650,607.51 shares, representing 10.1% of the class. FMR LLC has sole voting power over 11,253,433.00 shares and sole dispositive power over 11,650,607.51 shares, with no shared voting or dispositive power. Abigail P. Johnson reports sole dispositive power over the same 11,650,607.51 shares and no voting power.
The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose, or with the effect, of changing or influencing control of Tanger Inc., nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under the specified proxy rule.
Tanger Properties Limited Partnership, guaranteed by Tanger Inc., launched and priced a private offering of $220 million aggregate principal amount of 2.375% Exchangeable Senior Notes due 2031 under Rule 144A. The Operating Partnership also granted initial purchasers an option to buy up to an additional $30 million of these notes at closing.
Tanger Inc. entered into capped call transactions and plans to use approximately $8 million of net proceeds to pay their cost, and approximately $20 million to repurchase about 0.6 million common shares in privately negotiated deals. The Operating Partnership and/or the Company intend to apply a portion of the proceeds, together with term loan proceeds, to repay outstanding unsecured lines of credit and the $350 million 3.125% senior notes due September 1, 2026, with the balance for general corporate purposes, including additional debt redemption or repayment.
Tanger Inc., through Tanger Properties Limited Partnership, updated its unsecured debt facilities. The partnership entered into a Fourth Amended and Restated Term Loan Agreement that increases the maximum borrowing capacity on its unsecured term loan from $325 million to $350 million, extends the maturity from January 13, 2027 to December 11, 2030, adds a delayed draw feature, and removes a 10 basis point SOFR credit adjustment spread.
The partnership also entered into a new unsecured term loan agreement with a maximum borrowing capacity of $200 million, a delayed draw feature, and a maturity date of January 6, 2033, with interest at SOFR plus a margin initially set at 125 basis points based on the company’s credit rating. Amendments to the revolving credit and liquidity credit agreements remove the 10 basis point SOFR credit adjustment spread and align terms with the new term loan agreements, all of which are guaranteed by Tanger Inc.