Tanger Inc. (SKT) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders of Tanger Factory Outlet Centers, Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Mr. Steve Tanger, Executive Chair of Tanger Factory Outlet Centers, Inc. Mr. Tanger, the floor is yours.

Good morning, ladies and gentlemen. My name is Steve Tanger, Executive Chair of the Board of Tanger Factory Outlet Centers, Inc. It is 10:00 a.m. And in accordance with the notice of the meeting, I call to order the 28th Annual Meeting of the company's shareholders. Thank you all for coming, and welcome. Mr. Secretary, please present the business portion of the meeting.

Thank you, Mr. Tanger. Mr. Neil Handiekar of Computershare Trust Company, the company's transfer agent, has been appointed to act as the inspector of elections at this meeting. An affidavit is with the inspector of elections and on file, attesting to the fact that a notice document was mailed to all holders on April 8, 2021. Mr. Handiekar is present by telephone and has accepted his oath of office. He has submitted his report as follows.

On March 24, 2021, the record date, there were 100,513,059 of the company's common shares eligible to be voted at this meeting. The holders of more than a majority of the shares eligible to be cast at this meeting as of the record date are represented in person or by proxy at this meeting. Accordingly, a quorum is present.

Thank you. We will now turn to the 3 items of business on the agenda, all of which were described in detail in the proxy statement previously furnished to shareholders. The first item of business is the election of directors. The Board has nominated 8 director candidates for election to the Board at this meeting. The Board's nominees for directors for the ensuing year or until their successors are duly elected and qualified are listed in the proxy statement provided to all shareholders. Biographies of the nominees were also included in the proxy statement. The Board's slate of directors is now formally placed before the meeting: Jeffrey Citrin, David Henry, Thomas Reddin, Bridget Ryan-Berman, Susan Skerritt, Steven Tanger, Luis Ubinas, Stephen Yalof. No other nominations for director have been received in accordance with the company's bylaws. Accordingly, I declare the nominations closed. The second item of business is the ratification of the Board's appointment of Deloitte & Touche as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021, subject to ratification of the shareholders. This appointment is now submitted to the shareholders for ratification. The third item of business is to approve, on an advisory or nonbinding basis, named executive officer compensation. We will now vote on these 3 items of business. Shareholders who have sent in proxies or who have voted online may not take any further action with respect to any of the matters to be voted on today. If you are a shareholder of record who has not voted and wish to vote, please click the Vote link on your screen. The inspector of elections has presented his preliminary report. He has determined that each of the 8 directors nominated by the Board has been duly elected. The ratification of Deloitte as the company's independent registered public accounting firm for 2021 has been approved. And the advisory vote on executive compensation has passed. The business portion of the meeting is concluded. I now turn the meeting back to Mr. Tanger.

Thank you, Mr. Secretary. There being no further business to come before the meeting, the formal portion of the meeting is now concluded, and the annual meeting is adjourned.

Thank you. I'm showing no questions. If a shareholder has a matter of individual concern or one that was not addressed during the meeting, please e-mail the question to [email protected]. Thank you.

This concludes the meeting. You may now disconnect.