X0202 4 2006-02-28 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0000939152 TANGER STANLEY K 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 1 1 1 0 Chairman, CEO Common Stock 2006-02-28 4 A 0 72000 0 A 487663 D Common Stock 278062 I by Partnership Common Stock 2000 I by Spouse Represents grant of restricted shares approved by the Share and Unit Option Committee of the Company's Board of Directors on February 28, 2006 under the Company's Amended and Restated Incentive Award Plan. The restricted shares vest and the restrictions cease to apply on twenty percent of the award on each anniversary date of the grant over a five-year period. By: James F. Williams For: Stanley K. Tanger 2006-03-02