0000899715-23-000025.txt : 20230217
0000899715-23-000025.hdr.sgml : 20230217
20230217175610
ACCESSION NUMBER: 0000899715-23-000025
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230215
FILED AS OF DATE: 20230217
DATE AS OF CHANGE: 20230217
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Yalof Stephen
CENTRAL INDEX KEY: 0001809284
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11986
FILM NUMBER: 23644375
MAIL ADDRESS:
STREET 1: 3200 NORTHLINE AVE., SUITE 360
CITY: GREENSBORO
STATE: NC
ZIP: 27408
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_167667454398139.xml
FORM 4
X0306
4
2023-02-15
0
0000899715
TANGER FACTORY OUTLET CENTERS, INC
SKT
0001809284
Yalof Stephen
3200 NORTHLINE AVE., SUITE 360
GREENSBORO
NC
27408
0
1
0
0
President & CEO
Common Stock
2023-02-15
4
M
0
205480
0
A
675786
D
Common Stock
2023-02-15
4
F
0
65691
18.79
D
610095
D
Notional Units
2023-02-15
4
M
0
205480
0
D
Common Stock
205480.0
0
D
Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into one restricted common share. 50% of the shares vested on February 15, 2023 and the remaining 50% will vest on February 15, 2024, contingent upon continued employment with the Company through the vesting dates.
Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 11, 2020 through February 10, 2023, as certified by the Compensation Committee on February 14, 2023.
With respect to 33.30% of the performance shares, 20% of this portion of the award was earned if the Company's aggregate TSR equals 36.8% over the 3-year measurement period, 60% of this portion of the award was earned if the Company's aggregate TSR equals 44.3%, and 100% of this portion of the award was earned if the Company's aggregate TSR equals or exceeds 52.1%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award was 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 was 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 was earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares converted on a pro-rata basis by linear interpolation between share price appreciation thresholds.
100% of the absolute and relative portions were actually earned. The notional units convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
/s/ Eric Richardson, attorney-in-fact for Mr. Yalof
2023-02-17