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