0000899715-18-000052.txt : 20180220 0000899715-18-000052.hdr.sgml : 20180220 20180220170053 ACCESSION NUMBER: 0000899715-18-000052 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20180215 FILED AS OF DATE: 20180220 DATE AS OF CHANGE: 20180220 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: McDonough Thomas E. CENTRAL INDEX KEY: 0001408616 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-11986 FILM NUMBER: 18625528 MAIL ADDRESS: STREET 1: 1600 NE MIAMI GARDENS DRIVE CITY: NORTH MIAMI BEACH STATE: FL ZIP: 33179 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 4 1 wf-form4_151916395548840.xml FORM 4 X0306 4 2018-02-15 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001408616 McDonough Thomas E. 3200 NORTHLINE AVENUE, STE 360 GREENSBORO NC 27408 0 1 0 0 President & COO Common Stock 2018-02-15 4 F 0 14769 21.81 D 159088 D Common Stock 2018-02-16 4 A 0 58577 0 A 217665 D Common Stock 2018-02-20 4 S 0 11276 22.55 D 206389 D Notional Units 2018-02-16 4 A 0 76897 0 A Common Stock 76897.0 76897 D Represents a grant of restricted common shares under the Company's Amended and Restated Incentive Award Plan. The restricted common shares vest and the restrictions cease to apply on one-third of the award on each February 15th over a three year period beginning February 15, 2019. The sales reported in this Form 4 were effected pursuant to a previously adopted plan intended to comply with Rule 10b5-1. Represents a grant of performance shares which may convert into an equivalent number of restricted common shares of the Company based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to a selected group, over the three-year measurement period from February 16, 2018 through February 15, 2021. With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 19.1% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 24.23%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 29.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds. Any restricted common shares earned on February 15, 2021 are subject to a time based vesting schedule. 50% of the shares will vest on February 17, 2021 and the remaining 50% will vest on February 17, 2022, contingent upon continued employment with the Company through the vesting dates. /s/ James F. Williams, attorney-in-fact for Mr. McDonough 2018-02-20