0000899715-20-000043.txt : 20200213
0000899715-20-000043.hdr.sgml : 20200213
20200213202354
ACCESSION NUMBER: 0000899715-20-000043
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200211
FILED AS OF DATE: 20200213
DATE AS OF CHANGE: 20200213
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Worsham Charles Allen
CENTRAL INDEX KEY: 0001609003
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11986
FILM NUMBER: 20613121
MAIL ADDRESS:
STREET 1: 3200 NORTHLINE AVENUE, SUITE 360
CITY: GREENSBORO
STATE: NC
ZIP: 27408
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
FORMER COMPANY:
FORMER CONFORMED NAME: TANGER FACTORY OUTLET CENTERS INC
DATE OF NAME CHANGE: 19930401
4
1
wf-form4_158164341750369.xml
FORM 4
X0306
4
2020-02-11
0
0000899715
TANGER FACTORY OUTLET CENTERS, INC
SKT
0001609003
Worsham Charles Allen
3200 NORTHLINE AVENUE, SUITE 360
GREENSBORO
NC
27408
0
1
0
0
SVP,Construction & Development
Common Stock
2020-02-11
4
A
0
14450
0
A
52686
D
Notional Units
2020-02-11
4
A
0
22268
0
A
Common Stock
22268.0
22268
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, 2021.
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 11, 2020 through February 10, 2023.
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 36.8% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 44.3%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 52.1%. 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 10, 2023 are subject to a time based vesting schedule. 50% of the shares will vest on February 15, 2023 and the remaining 50% will vest on February 15, 2024, contingent upon continued employment with the Company through the vesting dates.
/s/ Eric Richardson, attorney-in-fact for Mr. Worsham
2020-02-13