Steven B. Tanger - Nov 27, 2023 Form 4 Insider Report for TANGER INC. (SKT)

Signature
/s/ Thomas J. Guerrieri Jr., attorney-in-fact for Mr. Tanger
Stock symbol
SKT
Transactions as of
Nov 27, 2023
Transactions value $
-$1,637,406
Form type
4
Date filed
11/29/2023, 04:11 PM
Previous filing
Nov 24, 2023
Next filing
Dec 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SKT Common Stock Sale -$1.64M -64.2K -5.7% $25.50 1.06M Nov 27, 2023 Direct F1, F2, F3
holding SKT Common Stock 5K Nov 27, 2023 By wife
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan that was adopted on August 21, 2023.
F2 Represents the weighted average sales price of multiple transactions ranging from $25.50 to $25.52.
F3 Number of shares of common stock beneficially owned following reported transactions does not include 2,879,797 Limited Partnership Units that are exchangeable into shares of Tanger Inc. held by Tango 7 LLC and considered indirectly beneficially owned by the Reporting Person.