The following table sets forth a reconciliation of the numerators and denominators in computing the Company’s earnings per share (in thousands, except per share amounts):


	Three months ended March 31,
	2025		2024
Numerator:
Net income attributable to Tanger Inc.	$	19,201	$	22,413
Less allocation of earnings to participating securities	(202)		(231)
Net income available to common shareholders of Tanger Inc.	$	18,999	$	22,182
Denominator:
Basic weighted average common shares	112,396		108,369
Effect of dilutive securities
Equity awards	1,557		1,654
Diluted weighted average common shares	113,953		110,023
Basic earnings per common share:
Net income	$	0.17	$	0.20
Diluted earnings per common share:
Net income	$	0.17	$	0.20

The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit (in thousands, except per unit amounts):


	Three months ended March 31,
	2025		2024
Numerator:
Net income attributable to partners of the Operating Partnership	$	19,999	$	23,386
Less allocation of earnings to participating securities	(202)		(231)
Net income available to common unitholders of the Operating Partnership	$	19,797	$	23,155
Denominator:
Basic weighted average common units	117,072		113,077
Effect of dilutive securities
Equity awards	1,557		1,654
Diluted weighted average common units	118,629		114,731
Basic earnings per common unit:
Net income	$	0.17	$	0.20
Diluted earnings per common unit:
Net income	$	0.17	$	0.20