TANGER INC.: directors' dealings · United States · SEC (Form 4)

About TANGER INC.

Tanger Inc. (NYSE: SKT) is a U.S.-listed real estate investment trust focused on owning, operating, developing, and acquiring outlet centers and other open-air retail destinations. The company is headquartered in Greensboro, North Carolina, United States, and traces its history back to 1981. Formerly known as Tanger Factory Outlet Centers, it adopted the Tanger Inc. name in 2023, signaling a broader platform that still remains rooted in outlet retail but has expanded into open-air lifestyle assets as well. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai)) From an equity analyst’s perspective, Tanger’s business model is straightforward but resilient: lease retail space to national and international brands in high-traffic locations, then monetize that real estate through occupancy, rent growth, tenant mix, and disciplined capital allocation. As of December 31, 2025, Tanger’s consolidated portfolio consisted of 31 outlet centers and 3 open-air lifestyle centers, totaling approximately 14.0 million square feet of gross leasable area. Management reported 98% occupancy, more than 2,600 stores, and over 700 store brands across the consolidated portfolio. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai)) Tanger’s competitive position comes from the strength of its branded outlet platform, the quality of its site selection, and its ability to attract traffic through destinations that are often located near tourist corridors, major highways, and growing consumer markets. The company is primarily U.S.-centric, with properties across 21 states, while also maintaining some exposure to Canada through unconsolidated joint ventures. This footprint gives Tanger geographic diversification without abandoning its core specialty in outlet and open-air retail real estate. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai)) Key business lines include property leasing, center management, merchandising and marketing support, redevelopment, and selective acquisitions. Tanger’s income profile is therefore driven not by product sales but by recurring real estate cash flows linked to tenant demand and occupancy. Its tenants span apparel, footwear, accessories, home goods, restaurants, and other consumer brands seeking value-oriented shopping channels and brand visibility. The company’s strategy has long emphasized dominant outlet centers and, more recently, open-air lifestyle centers that can broaden the customer base and improve the resilience of the portfolio. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai)) Recent developments underscore that strategy. In February 2025, Tanger acquired a 640,000-square-foot open-air, grocery-anchored mixed-use center in Cleveland, Ohio for $167.0 million, using cash and available liquidity. Management described the asset as a premier retail and entertainment destination with strong market-entry appeal for tenants. Tanger also completed renovations at select properties, including Charleston, South Carolina and Sevierville, Tennessee, while adding amenities and localized design features to enhance the shopper experience. In its 2025 reporting, Tanger highlighted year-over-year growth in same-center NOI, driven by improved occupancy and rental rates. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai)) For investors in France, Belgium, or Switzerland, Tanger represents a U.S. retail real estate name with a comparatively simple model, visible cash-flow drivers, and exposure to the healthier end of the outlet and open-air retail segment. Its NYSE listing under SKT provides direct access to a specialized U.S. property platform with a long operating history and a clear brand identity. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000899715/000162828026021254/skt2025annualreport.htm?utm_source=openai))