0000899715-19-000044.txt : 20190219 0000899715-19-000044.hdr.sgml : 20190219 20190219173126 ACCESSION NUMBER: 0000899715-19-000044 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190215 FILED AS OF DATE: 20190219 DATE AS OF CHANGE: 20190219 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: 19616217 MAIL ADDRESS: STREET 1: 9 TEAL COURT CITY: GREENSBORO STATE: NC ZIP: 27455 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: 1231 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_155061547263588.xml FORM 4 X0306 4 2019-02-15 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001218076 MORRISON LISA J 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 0 1 0 0 Executive VP Leasing Common Stock 2019-02-15 4 F 0 3125 21.80 D 38042 D Common Stock 2019-02-18 4 A 0 7570 0 A 45612 D Notional Units 2019-02-18 4 A 0 20409 0 A Common Stock 20409.0 20409 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, 2020. 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 18, 2019 through February 17, 2022. 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 17, 2022 are subject to a time based vesting schedule. 50% of the shares will vest on February 22, 2022 and the remaining 50% will vest on February 15, 2023, contingent upon continued employment with the Company through the vesting dates. /s/ James F. Williams, attorney-in-fact for Ms. Morrison 2019-02-19