SCHEDULE: FMR LLC, Abigail Johnson Disclose 10.1% Stake in Tanger Inc.

FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 10.1% in Tanger Inc.'s common stock as of December 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson reported beneficial ownership of 11,650,607.51 shares of Tanger Inc. common stock.
• This represents 10.1% of the total outstanding common stock of Tanger Inc.
• FMR LLC holds sole voting power over 11,253,433.00 shares and sole dispositive power over 11,650,607.51 shares.
• Abigail P. Johnson holds sole dispositive power over 11,650,607.51 shares, with no sole or shared voting power directly attributed.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a previous disclosure of ownership.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Tanger Inc.
• FMR LLC is classified as a parent holding company or control person.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, and through family ownership and a voting agreement, may be deemed to form a controlling group with respect to FMR LLC.
• Several subsidiaries and affiliates of FMR LLC, including Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership by a major institutional investor. The certification that the shares are held in the ordinary course of business and not for control purposes suggests a stable, passive investment, which is generally a neutral to slightly positive signal for the issuer.

Positives

• Disclosure of a significant, stable institutional investor (FMR LLC) holding a substantial 10.1% stake in Tanger Inc.
• The reporting persons certify that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive investment stance.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Tanger Inc., mitigating immediate control-related risks from this specific filing.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Tanger Inc.'s future outlook, as it is a disclosure of beneficial ownership.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

This filing indicates a significant institutional investment in Tanger Inc., a publicly traded real estate investment trust (REIT). Such disclosures are common for large asset managers like FMR LLC, reflecting their portfolio allocations within the retail or outlet center REIT sector. The 10.1% stake suggests a notable, but passive, position in the company, consistent with a diversified investment strategy rather than an activist one.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, potentially reinforcing confidence in the stock due to a large, passive investment.
• Management: Awareness of a major shareholder, though the filing indicates no intent to influence control.

Key Dates

Recommendation

This Schedule 13G filing is a disclosure of beneficial ownership, not a performance report or a strategic announcement. While the presence of a significant institutional investor like FMR LLC holding a 10.1% stake in Tanger Inc. is a positive indicator of institutional confidence, the filing itself does not provide new information to warrant a change in investment recommendation. The certification that the shares are held for ordinary course investment purposes, without intent to influence control, suggests a stable, passive position. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on existing fundamental analysis of Tanger Inc., as this filing does not introduce new factors for a 'buy' or 'sell' decision.

Keywords

Tanger Inc, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Ownership Stake, Real Estate Investment Trust