4//SEC Filing
JESSUP MANUEL O 4
Accession 0000899715-13-000047
CIK 0000899715other
Filed
Feb 13, 7:00 PM ET
Accepted
Feb 14, 8:14 PM ET
Size
9.0 KB
Accession
0000899715-13-000047
Insider Transaction Report
Form 4
JESSUP MANUEL O
Senior VP - Human Resources
Transactions
- Award
Common Stock
2013-02-12+2,500→ 3,500 total - Award
Notional Units
2013-02-12+8,550→ 8,550 total→ Common Stock (8,550 underlying)
Footnotes (4)
- [F1]Represents a grant of restricted shares approved by the Company's Board of Directors on February 12, 2013 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 February 28th over a five year period beginning February 28, 2014.
- [F2]Represents performance shares which may convert, into an equivalent number of restricted common shares of the Company based on the Companys share price appreciation inclusive of all dividends (TRS), and its TRS relative to its peer group, over the three-year measurement period from January 1, 2013 through December 31, 2015. The share price targets will be reduced on a dollar-for-dollar basis with respect to any dividend payments made during the measurement period. The number of restricted shares earned shall in no event exceed the product of(a) the performance shares granted and (b) $42.04.
- [F3]With respect to 70% of the performance shares, 33.33% of this portion of the award will be earned if the Company's aggregate TRS equals 25% over the three-year measurement period, 66.67% of the award will be earned if the Company's TRS equals 30%, and 100% of this portion of the award will be earned if the Company's TRS equals 35% or higher. With respect to 30% of the performance shares, 33.33% of this portion of the award will be earned if the Company's TRS is in the 50th percentile of its peer group over the three-year measurement period, 66.67% of this portion of the award will be earned if the Company's TRS is in the 60th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TRS is in the 70th percentile of its peer group or greater during this period.. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds
- [F4]Any restricted common shares earned on December 31, 2015 are subject to a time based vesting schedule. 50% of the shares will vest on January 4, 2016 and the remaining 50% will vest on January 3, 2017, contingent upon continued employment with the Company through the vesting dates.
Documents
Issuer
TANGER FACTORY OUTLET CENTERS INC
CIK 0000899715
Entity typeother
Related Parties
1- filerCIK 0001421926
Filing Metadata
- Form type
- 4
- Filed
- Feb 13, 7:00 PM ET
- Accepted
- Feb 14, 8:14 PM ET
- Size
- 9.0 KB