0000899715-23-000060.txt : 20230316
0000899715-23-000060.hdr.sgml : 20230316
20230316175054
ACCESSION NUMBER: 0000899715-23-000060
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230314
FILED AS OF DATE: 20230316
DATE AS OF CHANGE: 20230316
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: TANGER STEVEN B
CENTRAL INDEX KEY: 0001216940
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11986
FILM NUMBER: 23740024
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_167900344369215.xml
FORM 4
X0306
4
2023-03-14
0
0000899715
TANGER FACTORY OUTLET CENTERS, INC
SKT
0001216940
TANGER STEVEN B
3200 NORTHLINE AVENUE, SUITE 360
GREENSBORO
NC
27408
1
1
0
0
Executive Chair of the Board
Common Stock
2023-03-14
4
A
0
22819
0
A
1501983
D
Common Stock
5000
I
By wife
Notional Units
2023-03-14
4
A
0
49669
0
A
Common Stock
49669.0
49669
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 January 1, 2024.
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 March 14, 2023 through March 13, 2026.
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 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. 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.
Any restricted common shares earned on March 13, 2026 will vest on March 20, 2026.
/s/ Thomas J. Guerrieri Jr., attorney-in-fact for Mr. Tanger
2023-03-16