0000899715-23-000142.txt : 20231004
0000899715-23-000142.hdr.sgml : 20231004
20231004164927
ACCESSION NUMBER: 0000899715-23-000142
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231002
FILED AS OF DATE: 20231004
DATE AS OF CHANGE: 20231004
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Norman Jessica K
CENTRAL INDEX KEY: 0001776899
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11986
FILM NUMBER: 231308639
MAIL ADDRESS:
STREET 1: 1835 MARKET STREET
STREET 2: SUITE 2601
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
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
wk-form4_1696452556.xml
FORM 4
X0508
4
2023-10-02
0
0000899715
TANGER FACTORY OUTLET CENTERS, INC
SKT
0001776899
Norman Jessica K
3200 NORTHLINE AVENUE, SUITE 360
GREENSBORO
NC
27408
0
1
0
0
EVP, General Counsel,Secretary
0
Common Stock
2023-10-02
4
A
0
17700
22.60
A
17700
D
Common Stock
2023-10-02
4
A
0
3768
22.60
A
21468
D
Notional Units
2023-10-02
4
A
0
10574
0
A
Common Stock
10574
10574
D
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 50% of the award on October 2, 2025, 25% of the award on October 2, 2026 and 25% of the award on October 2, 2027.
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 October 2nd over a three-year period beginning October 2, 2024.
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 March 14, 2023 through March 13, 2026.
With respect to 33% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals, 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.7% 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 pr-rata basis by linear interpolation between share price appreciation thresholds.
Any restricted common shares earned on March 13, 2026 are subject to a time based vesting schedule. 50% of the shares will vest on March 20, 2026 and the remaining 50% will vest on March 15, 2027, contingent upon continued employment with the Company through the vesting dates.
/s/ Eric Richardson, attorney-in-fact for Ms. Norman
2023-10-04