0000899715-22-000057.txt : 20220224 0000899715-22-000057.hdr.sgml : 20220224 20220224181934 ACCESSION NUMBER: 0000899715-22-000057 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220222 FILED AS OF DATE: 20220224 DATE AS OF CHANGE: 20220224 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: 22673440 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_164574474140183.xml FORM 4 X0306 4 2022-02-22 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 2022-02-22 4 M 0 8312 0 A 121674 D Common Stock 2022-02-22 4 F 0 1799 16.58 D 119875 D Notional Units 2022-02-22 4 M 0 8312 0 D Common Stock 8312.0 0 D Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into .231 restricted common shares. 50% of the shares 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. Represents notional units, each of which converted into .231 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 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 24.3%, 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. 39.2% 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 2022-02-24