v3.26.1
Partners' Equity of the Operating Partnership
 3 Months Ended
Mar. 31, 2026
Partners' Equity of the Operating Partnership [Abstract]  
Partners' Equity of the Operating Partnership Partners’ Equity of the Operating Partnership
All operating partnership units issued by the Operating Partnership have equal rights with respect to earnings, dividends and net assets. When the Company issues common shares upon the exercise of options, the grant of restricted common share awards, or the exchange of Class A common limited partnership units, the Operating Partnership issues a corresponding Class B common limited partnership unit to Tanger LP Trust, a wholly-owned subsidiary of the Company. Likewise, when the Company repurchases its outstanding common shares, the Operating Partnership repurchases a corresponding amount of Class B common limited partnership units held by Tanger LP Trust.

The following table sets forth the changes in outstanding partnership units for the three months ended March 31, 2026 and March 31, 2025:
Limited Partnership Units
General Partnership UnitsClass AClass BClass CTotal
Balance December 31, 20241,250,000 4,707,958 111,488,633 — 116,196,591 
Options exercised— — 5,200 — 5,200 
Exchange of Class A limited partnership units— (45,054)45,054 — — 
Grant of restricted common share awards by the Company, net of forfeitures— — 595,924 — 595,924 
Units withheld for employee income taxes— — (211,605)— (211,605)
Balance March 31, 20251,250,000 4,662,904 111,923,206 — 116,586,110 
Balance December 31, 20251,250,000 4,662,904 113,847,359 — 118,510,263 
Options exercised— — 33,200 — 33,200 
Issuance of Class C limited partnership units upon conversion of Basic LTIP units (1)
— — — 15,180 15,180 
Grant of restricted common share awards by the Company, net of forfeitures— — 580,680 — 580,680 
Repurchase of common units
— — (589,622)— (589,622)
Units withheld for employee income taxes— — (245,766)— (245,766)
Balance March 31, 20261,250,000 4,662,904 113,625,851 15,180 118,303,935 
(1)Represents time-based LTIP units of certain non-employee directors which vested and satisfied minimum allocations to the capital account of the LTIP unit for federal income tax purposes. The units automatically converted into non-voting Class C common limited partnership units of the Operating Partnership on February 15, 2026.