SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TANGER STANLEY K

(Last)

(First)

(Middle)

7 NORTHLINE PLACE

(Street)

GREENSBORO

27410

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TANGER FACTORY OUTLET CENTERS INC [ SKT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/18/2010		G⁽¹⁾	V	278,062⁽¹⁾⁽²⁾	D	$0	0	I	By Partnership⁽²⁾
Common Stock								448,812	D
Common Stock								2,000	I	By Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Limited Partnership Units exchangeable for Common Stock	$0	08/18/2010		G	V		3,033,305⁽³⁾	05/27/1993	⁽⁴⁾	Common Stock	6,066,610	$0	0	I	partnership⁽³⁾

Explanation of Responses:

1. On August 18, 2010, Mr. Tanger transferred his general partnership interests in the Tanger Family Limited Partnership to the Stanley K. Tanger Marital Trust. As Mr. Tanger no longer has investment or voting power with respect to the Tanger Family Limited Partnership's holdings, he is no longer deemed to be the beneficial owner of the issuer's securties held by the Tanger Family Limited Partnership.

2. Includes 278,062 shares of Common Stock owned by the Tanger Family Limited Partnership. Prior to August 18, 2010, Mr. Tanger was the general partner of the Tanger Family Limited Partnership and thus may deemed to have been the beneficial owner of such partnership's holdings.

3. Includes 3,033,305 limited partnership units of Tanger Properties Limited Partnership owned by Tanger Family Limited Partnership which are exchangeable into 6,066,610 common shares of Tanger Factory Outlet Centers, Inc. Prior to August 16, 2010, Mr. Tanger was the general partner of the Tanger Family Limited Partnership and may deemed to have been the beneficial owner of such partnership's holdings.

4. The Limited Partnership Units have no expiration date.

	/s/ James F. Williams, attorney-in-fact for Stanley K. Tanger	09/23/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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