Thomas Reddin
About Thomas J. Reddin
Independent director at Tanger Inc. (SKT) since July 26, 2010; age 64; 14 years of board service as of the 2025 proxy. He chairs the Compensation & Human Capital Committee and also serves on the Nominating & Corporate Governance Committee; the Board has determined he is independent under NYSE rules. His background spans CEO and operating roles in e-commerce, consumer marketing, and digital transformation; he also holds a Cybersecurity Risk Oversight certification. Current public company directorships include Asbury Automotive Group (NYSE: ABG) and Deluxe Corporation (NYSE: DLX).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tanger Inc. | Non-Executive Chair of the Board | May 20, 2016 – May 17, 2019 | Board leadership during transition period |
| Red Dog Ventures, LLC | Managing Partner & Owner | 2009 – Present | Private equity/venture investing leadership |
| Richard Petty Motorsports | Chief Executive Officer | 2008 – 2009 | CEO leadership |
| LendingTree.com | Chief Executive Officer; President & COO | CEO 2005–2007; President & COO 2000–2005 | Led digital/e-commerce operations |
| The Coca-Cola Company | VP, Consumer Marketing (Coca-Cola USA) | 1995 – 1999 | Senior consumer marketing leadership |
| Kraft Foods, Inc. | Senior leadership roles | 1982 – 1995 | Brand/marketing leadership |
| Premier Farnell plc (prior) | Director | 2010 – 2016 | Public company board service |
| Valassis Communications Inc. (prior) | Director | 2010 – 2014 | Public company board service |
| R.H. Donnelley (prior) | Director | 2007 – 2010 | Public company board service |
External Roles
| Company | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Asbury Automotive Group (NYSE: ABG) | Director | Current | Committee roles not disclosed in SKT proxy |
| Deluxe Corporation (NYSE: DLX) | Director | Current | Committee roles not disclosed in SKT proxy |
Board Governance
- Committee assignments: Chair, Compensation & Human Capital Committee; Member, Nominating & Corporate Governance Committee. Compensation Committee met 5 times in 2024; Nominating & Corporate Governance met 4 times in 2024.
- Independence: Board affirms Reddin is independent under NYSE standards.
- Attendance: 100% attendance at Board and applicable committee meetings by all incumbent directors during 2024; Board held six meetings.
- Tenure/age: 14 years on Board; age 64 (2025 proxy).
- Board process and quality signals: Majority voting with resignation policy in uncontested elections; regular executive sessions led by the Lead Independent Director; all standing committees fully independent.
Fixed Compensation
Director pay framework (policy):
| Component | 2023 | 2024 |
|---|---|---|
| Annual Cash Retainer | $60,000 | $70,000 |
| Annual Equity Retainer | $165,000 | $175,000 |
| Lead Independent Director Cash Retainer | $50,000 (in 2023; increased in 2024) | $70,000 |
| Non-Executive Chair Additional Cash Retainer | — | $70,000 |
- No per-meeting fees; directors reimbursed for meeting expenses; no perquisites.
Reddin’s actual director compensation:
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash | $85,000 | $95,000 |
| Share Awards (Grant-Date Fair Value) | $165,010 | $175,007 |
| All Other Compensation (dividends on unvested/deferred shares) | $17,133 | $11,429 |
| Total | $267,143 | $281,436 |
- 2025 update: Directors may elect 2025 annual equity in time-based LTIP units (same vesting as restricted shares). Nominating & Corporate Governance Chair retainer increased from $15,000 to $20,000 (other retainers unchanged).
Performance Compensation
- Non-employee director equity is time-based (no performance metrics). In 2024, each incumbent non-employee director received 6,535 restricted common shares at $26.78 grant-date value per share; these vested on February 15, 2025. As of December 31, 2024, directors (except Mr. Tanger and Ms. Syngal) also held 3,309 unvested shares (one-third of 2022 award) — applicable to Reddin.
| Award | Grant Date | Shares | Fair Value/Share | Vesting |
|---|---|---|---|---|
| 2024 Director Restricted Shares (Reddin) | Feb. 15, 2024 | 6,535 | $26.78 | Vested Feb. 15, 2025 |
| Residual Unvested from 2022 Grant (Reddin) | 2022 grant | 3,309 (one-third) | n/a | Time-based per original schedule |
Other Directorships & Interlocks
| External Board | Role | Potential SKT Interlock |
|---|---|---|
| Asbury Automotive Group (NYSE: ABG) | Director | None disclosed in SKT independence review (review cites tenants linked to other directors; Reddin not cited) |
| Deluxe Corporation (NYSE: DLX) | Director | None disclosed in SKT independence review |
The independence analysis explicitly considers tenant relationships for certain other directors; Reddin is not identified in those disclosures.
Expertise & Qualifications
- General management and e-commerce leadership; consumer brand building; digital strategy experience (LendingTree CEO; Coca-Cola; Kraft).
- Cybersecurity Risk Oversight certification (Software Engineering Institute at Carnegie Mellon & NACD).
- Prior SKT Non-Executive Chair; deep familiarity with SKT’s business and governance.
Equity Ownership
| Item | Value |
|---|---|
| Beneficially Owned Common Shares (as of Feb. 28, 2025) | 46,602 |
| Ownership as % of Shares Outstanding | <1% (starred as less than 1%) |
| Unvested Restricted Shares (Dec. 31, 2024) | 9,844 (6,535 from 2024 grant; 3,309 from 2022 grant) |
| Stock Ownership Guidelines | Directors must hold shares equal to 5x $70,000 cash retainer within 5 years; all non-employee directors with 5+ years met guidelines (Reddin qualifies by tenure) |
| Hedging/Pledging | Prohibited; company reports no shares pledged by officers/directors |
Governance Assessment
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Positives for investor confidence:
- Independent status; 100% attendance; significant engagement via committee leadership (Compensation & Human Capital Committee Chair).
- Robust director pay alignment: majority in equity; meaningful ownership guidelines met by long-tenured directors.
- Strong shareholder support of executive pay program (Say-on-Pay 96.8% approval in 2024).
- Governance safeguards: majority voting with resignation policy; fully independent key committees; anti-hedging and anti-pledging policies; NYSE-compliant clawback (executives).
-
Watch items:
- Tenure: 14 years on the board — balanced by ongoing board refresh (e.g., 2024 addition of Sonia Syngal) and continued independence.
- Multiple outside directorships (ABG, DLX) — typical for seasoned directors, but monitor time commitments; no related-party or tenant interlocks disclosed for Reddin.
-
Related-party/Conflicts:
- Company’s related-party disclosures focus on Operating Partnership unitholders (founder family) and do not identify transactions involving Reddin.
-
Compensation committee process:
- Committee comprised exclusively of independent directors; met 5 times in 2024; employs an independent compensation consultant (Ferguson Partners) for executive compensation benchmarking and design.