Yalof Stephen 4

What Happened

• Stephen Yalof, President & CEO and Director of Tanger Inc. (SKT), had 111,402 restricted shares vest and 50,706 of those shares were withheld to satisfy tax-withholding obligations (reported as a forfeiture/disposition) on Feb 17, 2026. The withheld shares were valued at $33.82 each for a total of $1,714,877.
• On Feb 13, 2026, Yalof was granted 49,391 Basic LTIP Units (reported as a derivative award at $0.00). Those LTIP Units are structured to convert into non-voting Class C Common Units and may be exchanged one-for-one for Tanger common shares if vesting and tax-allocation conditions are met.

Key Details

• Transaction dates & prices: Feb 13, 2026 — grant of 49,391 Basic LTIP Units at $0.00; Feb 17, 2026 — 50,706 shares withheld at $33.82/share (total $1,714,877) to cover taxes.
• Shares owned after transaction: not provided in the excerpt of the filing.
• Footnotes: (1) Withholding was solely to satisfy tax liability related to vesting (111,402 restricted shares vested, 50,706 withheld). (2) Basic LTIP Units convert to Class C Common Units, exchangeable 1:1 for common shares subject to conditions. (3) LTIP Units vest one-third on each Feb 15 for the first three years after grant (subject to certain accelerated vesting).
• Filing timeliness: Form 4 filed Feb 18, 2026. Based on the transaction dates, the filing appears to be timely.

Context

• The Feb 17 disposition was a tax-withholding settlement (routine) rather than an open-market sale; such withholdings don't necessarily indicate the insider's view on the stock.
• The LTIP grant is a derivative/profits-interest style award that vests over time and can convert to common shares if conditions are met; these are long-term incentive compensation rather than an immediate purchase.