TANGER STEVEN B 4

What Happened Steven B. Tanger, a director of Tanger Inc. (SKT), received a grant of 5,207 Basic LTIP Units on February 13, 2026. The award is recorded at $0.00 per unit (total recorded value $0) because these are derivative profit‑interest units rather than a cash purchase. Under the plan, Basic LTIP Units are intended to convert into non‑voting Class C Common Units and may be exchanged one‑for‑one for Tanger Inc. common shares if certain tax allocation conditions are met.

Key Details

• Transaction type: Award/Grant (code A) of 5,207 Basic LTIP Units on 2026-02-13 at $0.00 per unit.
• Report filed: 2026-02-18 — filed timely (deadline fell on 2026-02-18 given the Presidents’ Day holiday).
• Vesting: These Basic LTIP Units are scheduled to vest on February 15, 2027 (subject to accelerated vesting for death and certain involuntary terminations).
• Conversion: Basic LTIP Units, if and when vested and tax conditions satisfied, automatically convert into non‑voting Class C Common Units, which may be exchanged 1:1 for Tanger Inc. common shares.
• Tax treatment: Basic LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnote note: Filing also indicates some Basic LTIP Units have been automatically converted into Class C Common Units (see footnote referencing such conversions).

Context This was an equity award (not a market purchase or sale), so it reflects compensation/long‑term incentive rather than an open‑market buy or sell. Such grants are common for aligning management/director incentives with shareholder interests; they do not by themselves indicate a purchase or sale signal.