CITRIN JEFFREY B 4

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.