X0101 4 2003-05-16 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001218084 SUMMERELL VIRGINIA R 0 1 0 0 Treasurer Common Stock 2003-05-14 4 M 0 2000 22.125 A 2500 D Common Stock 2003-05-14 4 S 0 2000 32.275 D 500 D Common Stock 2003-05-16 4 M 0 2000 24.25 A 2500 D Common Stock 2003-05-16 4 S 0 2000 32.25 D 500 D Limited Partnership Unit Option (right to buy) 22.125 2003-05-14 4 M 0 2000 0 D 2000-01-08 2009-01-08 Common Stock 2000 1500 D Limited Partnership Unit Option (right to buy) 24.25 2003-05-16 4 M 0 2000 0 D 1997-10-28 2006-10-28 Common Stock 2000 2000 D Options to purchase limited partnership units, granted pursuant to the Tanger Properties Limited Partnership Unit Option Plan. Each unit obtained upon exercise of option is exchangeable for common stock on a one-for-one basis. The option becomes exercisable in five equal annual installments, commencing one year from the date of grant. By: Thomas J. Guerrieri Jr. For: Virginia R. Summerell 2003-05-16