0000899715-14-000009.txt : 20140103 0000899715-14-000009.hdr.sgml : 20140103 20140103171012 ACCESSION NUMBER: 0000899715-14-000009 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140101 FILED AS OF DATE: 20140103 DATE AS OF CHANGE: 20140103 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: TANGER FACTORY OUTLET CENTERS INC CENTRAL INDEX KEY: 0000899715 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 561815473 STATE OF INCORPORATION: NC FISCAL YEAR END: 0101 BUSINESS ADDRESS: STREET 1: 3200 NORTHLINE AVENUE SUITE 360 CITY: GREENSBORO STATE: NC ZIP: 27408 BUSINESS PHONE: 3362923010 MAIL ADDRESS: STREET 1: 3200 NORTHLINE AVENUE SUITE 360 CITY: GREENSBORO STATE: NC ZIP: 27408 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: MORRISON LISA J CENTRAL INDEX KEY: 0001218076 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-11986 FILM NUMBER: 14506813 MAIL ADDRESS: STREET 1: 9 TEAL COURT CITY: GREENSBORO STATE: NC ZIP: 27455 4 1 wf-form4_138878700128761.xml FORM 4 X0306 4 2014-01-01 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001218076 MORRISON LISA J 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 0 1 0 0 Senior VP Leasing Common Stock 2014-01-01 4 M 0 44000 0 A 65104 D Notional Units 2014-01-01 4 M 0 18000 0 D Common Stock 44000.0 0 D Represents restricted shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into 2.444 restricted common shares. The restricted shares will vest and restrictions will cease to apply on December 31, 2014. Each Notional Unit represents the right to receive one or more restricted common shares of the issuer contingent upon achieving designated share price targets determined at the end of a four-year measurement period ending on December 31, 2013. If the market price of issuer's common shares as of the end of the measurement period is at least $27.295 per share (but less than $29.245 per share), then each Notional Unit will convert into one restricted common share. If the market price of the issuer's common shares as of the end of the measurement period is at least $29.245 per share (but less than $31.19 per share), then each Notional Unit will convert into two restricted common shares. If the market price of issuer's common shares as of the end of the measurement period is at least $31.19 per share, then each Notional Unit will convert into three restricted common shares. These share price targets will be reduced on a penny-for-penny basis with respect to any dividend payments made during the measurement period, provided that in no event will the minimum price target be below $24.18 per share. The conversion ratios for any share prices in between the above targets will be calculated by linear interpolation. If at the end of the four-year measurement period the issuer's share price does not achieve a market price of $27.295 per share, adjusted for any dividends, but such common shares performed above the 50th percentile of the issuer's peer group in terms of total return to shareholders, including the reinvestment of dividends, then each Notional Unit will convert into one restricted common share. Restricted shares issued will vest and restrictions will cease to apply on December 31, 2014. /s/ James F. Williams, attorney-in-fact for Ms. Morrison 2014-01-03