X0305 4 2012-05-30 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001288851 Williams James Floyd 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 1 Sr.Vice President & Controller Common Stock 2012-05-30 4 M 0 3000 9.7075 A 38956 D Common Stock 2012-05-30 4 S 0 3000 31.15 D 35956 D Limited Partnership Unit Option (Right to Buy) 9.7075 2012-05-30 4 M 0 3000 0 D 2005-04-27 2014-04-27 Common Stock 3000 0 D Options to purchase limited partnership units of Tanger Properties Limited Partnership, granted pursuant to the Amended and Restated Incentive Award Plan of Tanger Factory Outlet Centers, Inc. and Tanger Properties Limited Partnership. The number of options and the exercise prices stated above have been adjusted to relfect the effect of the prior splits of the common shares of Tanger Factory Outlet Centers, Inc. The option becomes exercisable in five equal annual installments, commencing one year from the date of grant. /s/ James F. Williams 2012-05-31