0000899715-21-000046.txt : 20210219 0000899715-21-000046.hdr.sgml : 20210219 20210219175409 ACCESSION NUMBER: 0000899715-21-000046 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: Perry Chad CENTRAL INDEX KEY: 0001537306 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-11986 FILM NUMBER: 21657522 MAIL ADDRESS: STREET 1: C/O TANGER FACTORY OUTLET CENTERS, INC. STREET 2: 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_161377522993436.xml FORM 4 X0306 4 2021-02-17 0 0000899715 TANGER FACTORY OUTLET CENTERS, INC SKT 0001537306 Perry Chad 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 0 1 0 0 EVP,General Counsel,Secretary Common Stock 2021-02-17 4 M 0 7085 0 A 101872 D Common Stock 2021-02-17 4 F 0 1574 14.10 D 100298 D Notional Units 2021-02-17 4 M 0 7085 0 D Common Stock 7085.0 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, attorney-in-fact for Mr. Perry 2021-02-19