0000899715-21-000043.txt : 20210219
0000899715-21-000043.hdr.sgml : 20210219
20210219175305
ACCESSION NUMBER: 0000899715-21-000043
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210217
FILED AS OF DATE: 20210219
DATE AS OF CHANGE: 20210219
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Williams James Floyd
CENTRAL INDEX KEY: 0001288851
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11986
FILM NUMBER: 21657515
MAIL ADDRESS:
STREET 1: 3204 COTTINGHAM COURT
CITY: GREENSBORO
STATE: NC
ZIP: 27410
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_161377517028607.xml
FORM 4
X0306
4
2021-02-17
0
0000899715
TANGER FACTORY OUTLET CENTERS, INC
SKT
0001288851
Williams James Floyd
3200 NORTHLINE AVENUE, SUITE 360
GREENSBORO
NC
27408
0
1
0
0
Executive VP & CFO
Common Stock
2021-02-17
4
M
0
4572
0
A
97828
D
Common Stock
2021-02-17
4
F
0
965
14.10
D
96863
D
Notional Units
2021-02-17
4
M
0
4572
0
D
Common Stock
4572.0
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 .2037 restricted common shares. 50% of the sharesvest 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.
Represents notional units, each of which converted into .2037 restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer 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 ofthe 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 other66.70% 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 theaward 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 itspeer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
30.52% of the relative portion was actually earned and none of the absolute portion was earned. The notional units convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
/s/ James F. Williams
2021-02-19