Tanger Inc. Elects New Directors, Adjusts Executive Compensation
Ticker: SKT · Form: 8-K · Filed: Sep 24, 2024 · CIK: 899715
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
Related Tickers: SKT
TL;DR
Tanger just swapped out 3 board members and updated CEO/CFO pay packages. Board changes are effective immediately.
AI Summary
Tanger Inc. announced on September 23, 2024, the election of new directors and changes in officer compensation. Specifically, the company elected three new directors: Steven J. Bason, Michael J. Blitzer, and Thomas M. O'Connor. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Stephen A. Yalof, and Chief Financial Officer, Michael J. Culhane, Jr., effective September 23, 2024, detailing their compensation packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters such as director elections and executive compensation adjustments, which are standard for public companies.
Key Players & Entities
- TANGER INC. (company) — Filer
- Steven J. Bason (person) — Newly Elected Director
- Michael J. Blitzer (person) — Newly Elected Director
- Thomas M. O'Connor (person) — Newly Elected Director
- Stephen A. Yalof (person) — Chief Executive Officer
- Michael J. Culhane, Jr. (person) — Chief Financial Officer
- September 23, 2024 (date) — Effective date of director elections and new employment agreements
FAQ
Who were the three new directors elected to Tanger Inc.'s board?
The three new directors elected were Steven J. Bason, Michael J. Blitzer, and Thomas M. O'Connor.
When were the new director elections and employment agreements effective?
The new director elections and employment agreements were effective as of September 23, 2024.
Which key executives entered into new employment agreements?
The Chief Executive Officer, Stephen A. Yalof, and the Chief Financial Officer, Michael J. Culhane, Jr., entered into new employment agreements.
What is Tanger Inc.'s Standard Industrial Classification (SIC) code?
Tanger Inc.'s SIC code is 6798, which corresponds to Real Estate Investment Trusts.
What is Tanger Inc.'s fiscal year end?
Tanger Inc.'s fiscal year ends on December 31.
Filing Stats: 732 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-09-24 08:58:12
Key Financial Figures
- $0.01 — ge on which registered Common Shares, $0.01 par value SKT New York Stock Exchange
Filing Documents
- skt-20240923.htm (8-K) — 33KB
- ex991.htm (EX-99.1) — 8KB
- ex991001.jpg (GRAPHIC) — 235KB
- ex991002.jpg (GRAPHIC) — 252KB
- ex991003.jpg (GRAPHIC) — 51KB
- 0000899715-24-000130.txt ( ) — 940KB
- skt-20240923.xsd (EX-101.SCH) — 3KB
- skt-20240923_def.xml (EX-101.DEF) — 5KB
- skt-20240923_lab.xml (EX-101.LAB) — 28KB
- skt-20240923_pre.xml (EX-101.PRE) — 16KB
- skt-20240923_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On September 23, 2024, the Company issued a press release that announced the appointment of Ms. Syngal to the Board. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibits are included with this Report: Exhibit No. 99.1 Press Release 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 24, 2024 TANGER INC. By: /s/ Michael J. Bilerman Michael J. Bilerman Executive Vice President, Chief Financial Officer and Chief Investment Officer (Principal Financial Officer) TANGER PROPERTIES LIMITED PARTNERSHIP By: TANGER INC., its sole general partner By: /s/ Michael J. Bilerman Michael J. Bilerman Executive Vice President, Chief Financial Officer and Chief Investment Officer (Principal Financial Officer)