4//SEC Filing
Stein Justin C 4
Accession 0000899715-25-000072
CIK 0000899715other
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 8:58 PM ET
Size
12.7 KB
Accession
0000899715-25-000072
Insider Transaction Report
Form 4
TANGER INC.SKT
Stein Justin C
EVP, Leasing
Transactions
- Tax Payment
Common Stock
2025-02-27$35.30/sh−6,604$233,121→ 51,059 total - Exercise/Conversion
Notional Units
2025-02-27−25,685→ 0 total→ Common Stock (25,685 underlying) - Exercise/Conversion
Common Stock
2025-02-27+25,685→ 57,663 total - Award
Common Stock
2025-02-27+9,066→ 60,125 total
Footnotes (6)
- [F1]Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into one restricted common share. 50% of the shares vested on February 27, 2025 and the remaining 50% will vest on February 15, 2026, contingent upon continued employment with the Tanger Inc. (the "Company") through the vesting dates.
- [F2]This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of shares held by the reporting person. On February 27, 2025, 12,843 restricted shares vested, with 6,604 shares withheld to cover tax withholding liability.
- [F3]Represents a grant of restricted common shares under Tanger Inc.'s Amended and Restated Incentive Award Plan. The restricted common shares vest and the restrictions cease to apply on one-third of the award on February 15th of each of the first three calendar years following the grant (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations).
- [F4]100% of the absolute and relative portions were actually earned.
- [F5]Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025.
- [F6]With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
Documents
Issuer
TANGER INC.
CIK 0000899715
Entity typeother
Related Parties
1- filerCIK 0001913505
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 8:58 PM ET
- Size
- 12.7 KB