CITRIN JEFFREY B 4
4 · TANGER INC. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Tanger (SKT) Director Jeffrey B. Citrin Receives Equity Awards
What Happened
Jeffrey B. Citrin, a director of Tanger Inc. (SKT), was granted equity on 2026-02-13. He received 520.68 common‑share equivalents at a reported price of $33.61 each (total value $17,500) and was also awarded 5,207 deferred/long‑term units (recorded at $0 in the filing) under director and LTIP programs. These were reported as awards/acquisitions (code A) rather than open‑market purchases or sales — typical director compensation rather than a market trade.
Key Details
- Transaction date(s): February 13, 2026; Form 4 filed February 18, 2026 (appears filed within the normal two business‑day window).
- Awarded: 520.68 shares @ $33.61 (value $17,500).
- Derivative/long‑term units: 5,207 units reported at $0 (Basic LTIP/Deferred Share Units).
- Shares owned after transaction: not specified in the provided excerpt.
- Notable footnotes:
- F1: Deferred share units (DSUs) equal one common share and become payable in common shares upon termination of director service.
- F2: 101.18 DSUs were acquired since the last Form 4 via dividend reinvestment.
- F3–F5: Basic LTIP Units convert to non‑voting Class C Common Units (and can be exchanged one‑for‑one for Tanger Inc. common shares) if/when vested and certain tax allocation conditions are met; these LTIP units are scheduled to vest on February 15, 2027 (subject to accelerated vesting in some cases).
Context
These awards are routine director compensation and are recorded as grants/derivative units rather than open‑market buys or sales. The LTIP units are subject to vesting and conversion mechanics, so they do not represent immediately tradable shares until vesting/conversion conditions are satisfied.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-13$33.61/sh+520.68$17,500→ 150,716.53 total - Award
Limited Partnership Units exchangeable for Common Stock
[F3][F4][F5]2026-02-13+5,207→ 10,267 total→ Common Stock (5,207 underlying)
Footnotes (5)
- [F1]Represents deferred share units issued pursuant to the Director Deferred Share Program of Tanger Inc. and Tanger Properties Limited Partnership. Each deferred share unit is equivalent to one common share. The deferred share units become payable in common shares upon termination of his service as a director.
- [F2]Since the Reporting Person's last Form 4, 101.18 deferred share units were acquired through a dividend reinvestment program.
- [F3]Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes.
- [F4]These Basic LTIP Units are scheduled to vest on February 15, 2027 (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations).
- [F5]Includes Basic LTIP Units which were automatically converted into Class C Common Units. See footnote 3 discussing the conversion of the Basic LTIP Units.