Equity-Based Compensation of the Operating Partnership (Tables) (Tanger Properties Limited Partnership [Member])

9 Months Ended

Sep. 30, 2012

Tanger Properties Limited Partnership [Member]

Disclosure of Equity-based Compensation Arrangements by Equity-based Payment Award

We recorded equity-based compensation expense in general and administrative expenses in our consolidated statements of operations as follows (in thousands):



	Three months ended September 30,				Nine months ended September 30,
Restricted units ⁽¹⁾	2012		2011		2012		2011
Restricted units ⁽¹⁾	$	1,886	$	1,410	$	6,600	$	3,942
Notional unit performance awards	495		377		1,475		1,390
Options	53		53		156		126
Total equity-based compensation	$	2,434	$	1,840	$	8,231	$	5,458

(1) For the nine months ended September 30, 2012, includes approximately $1.3 million of compensation expense related to 11,250 units issued related to a restricted share grant that vested immediately pursuant to the Employment Agreement as described in footnote 9.

Schedule of Equity-based Compensation, Restricted Stock Units Award Activity

The following table summarizes information related to unvested restricted units outstanding as of September 30, 2012:



Unvested Restricted Units	Number of units		Weighted-average grant date fair value
Unvested at December 31, 2011	197,834		$	83.70
Granted	142,750		111.60
Vested	(68,950	)	85.75
Forfeited	(1,250	)	118.00
Unvested at September 30, 2012	270,384		$	93.73

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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