Stein Justin C 4

What Happened
Justin C. Stein, EVP & Chief Revenue Officer of Tanger Inc. (SKT), was granted 10,712 Basic LTIP Units (derivative award) on 2026-02-13 and on 2026-02-17 had 19,349 restricted shares vest. To satisfy tax withholding, 10,036 of those vested shares were forfeited (disposed) at $33.82 per share, totaling $339,418. The LTIP Units were reported as acquired at $0 (derivative award).

Key Details

• Transactions reported: 2026-02-13 (grant/award of 10,712 Basic LTIP Units, code A) and 2026-02-17 (forfeiture/tax withholding of 10,036 shares, code F).
• Withholding sale: 10,036 shares × $33.82 = $339,418 withheld to cover taxes.
• Vested on 2026-02-17: 19,349 restricted shares (10,036 withheld for taxes).
• Shares owned after transaction: not specified in this Form 4.
• Filing date: Form 4 filed 2026-02-18 (covers transactions on 2/13 and 2/17); no late-filing flag noted in the data provided.

Context

• The 10,712 Basic LTIP Units are derivative awards that, subject to vesting and certain tax conditions, automatically convert into non-voting Class C Common Units, which may be exchanged one-for-one for Tanger Inc. common shares (see footnotes). These LTIP Units are intended to qualify as profits interests for U.S. tax purposes and have scheduled vesting provisions (see filing footnote).
• The forfeiture of 10,036 shares was a routine tax-withholding action tied to the vesting of restricted shares, not an open-market sale for cash. This type of withholding is common and does not necessarily signal insider sentiment.