Tanger (SKT) Proxy Filing summary

Executive summary

• Achieved 28% total shareholder return in 2024, outpacing retail REITs and the broader market; dividends increased 12% over 2023 to $1.085 per share.

• Net income for 2024 was $98.6 million ($0.88/share); Core FFO rose to $2.13/share; same center NOI increased to $333.4 million.

• Portfolio expanded with the acquisition of The Promenade at Chenal; occupancy reached 98% at year-end 2024.

• Strengthened balance sheet: increased unsecured credit lines to $620 million, extended maturities, and reduced pricing margin.

• Board refreshment included the addition of Sonia Syngal and the retirement of David Henry.

Voting matters and shareholder proposals

• Shareholders to elect nine director nominees for terms expiring at the 2026 annual meeting.

• Ratification of Deloitte & Touche LLP as independent auditor for fiscal 2025.

• Advisory vote on executive compensation (Say-on-Pay).

• Shareholder proposals and nominations for 2026 annual meeting outlined, with clear submission deadlines.

Board of directors and corporate governance

• Board comprises nine nominees post-2025 meeting, with 78% independence and 45% gender or racial/ethnic diversity.

• Board committees (Audit, Compensation and Human Capital, Nominating and Corporate Governance) are fully independent.

• Annual board evaluations, active shareholder engagement, and no stockholder rights plan.

• Lead Independent Director role held by Bridget Ryan-Berman, with significant authority and responsibilities.