Home > Insider Trading > Filing (0000899715-18-000052)

Filing Details

Accession Number:: 0000899715-18-000052
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-02-20 17:00:53
Reporting Period:: 2018-02-15

Accepted Time:: 2018-02-20 17:00:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
899715	Tanger Factory Outlet Centers Inc	SKT	Real Estate Investment Trusts (6798)	561815473

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1408616	E. Thomas Mcdonough	3200 Northline Avenue, Ste 360 Greensboro NC 27408	President & Coo	No	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2018-02-15	14,769	$21.81	159,088	No	4	F	Direct
Common Stock	Acquisiton	2018-02-16	58,577	$0.00	217,665	No	4	A	Direct
Common Stock	Disposition	2018-02-20	11,276	$22.55	206,389	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	F	Direct
No	4	A	Direct
No	4	S	Direct

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Notional Units	Acquisiton	2018-02-16	76,897	$0.00	76,897	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
76,897			No	4	A	Direct

Footnotes

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 one-third of the award on each February 15th over a three year period beginning February 15, 2019.
The sales reported in this Form 4 were effected pursuant to a previously adopted plan intended to comply with Rule 10b5-1.
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 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 of the 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 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 February 15, 2021 are subject to a time based vesting schedule. 50% of the shares will vest 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.