Guerrieri Thomas Joseph JR 4

What Happened

• Thomas Joseph Guerrieri Jr., SVP and CAO of Tanger Inc. (SKT), had notional/performance units convert into 9,313 restricted common shares on March 20, 2026.
• Of the shares associated with the conversion, 4,657 restricted shares vested on March 20, 2026; 1,325 of those vested shares were forfeited/withheld to cover tax withholding, valued at $35.48 per share (total $47,011). The remaining 50% of the converted award will vest on March 15, 2027, subject to continued employment.

Key Details

• Transaction date: March 20, 2026. Filing date: March 23, 2026 (timely).
• Shares received via conversion: 9,313 restricted shares (conversion of notional units tied to performance).
• Tax withholding: 1,325 shares withheld/forfeited to satisfy tax liability; withheld value reported as $47,011.
• Vesting schedule: 50% vested Mar 20, 2026 (4,657 shares), remaining 50% vests Mar 15, 2027, contingent on continued employment.
• Performance/derivative details: These were notional units that converted into restricted shares based on total shareholder return (TSR) and relative TSR vs. peers over the three-year measurement period (Mar 14, 2023–Mar 13, 2026). Footnotes indicate 100% of the performance award was earned.
• Shares owned after transaction: not specified in the filing.

Context

• This was a performance-based conversion of notional units into restricted shares, not an open-market purchase or discretionary sale. The withholding of shares to cover taxes is a routine administrative step (not an optional sale signal).
• The award’s payout was determined by TSR metrics and peer-relative performance thresholds (pro-rata interpolation between targets); according to the filing, the performance conditions were fully met.