4//SEC Filing
TANGER FACTORY OUTLET CENTERS INC 4
Accession 0000899715-14-000008
$SKTCIK 0000899715operating
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 5:09 PM ET
Size
9.7 KB
Accession
0000899715-14-000008
Insider Transaction Report
Form 4
MARCHISELLO FRANK C JR
Executive Vice President
Transactions
- Exercise/Conversion
Common Stock
2014-01-01+190,665→ 480,529 total - Exercise/Conversion
Notional Units
2014-01-01−78,000→ 0 total→ Common Stock (190,665 underlying)
Holdings
- 360(indirect: By IRA)
Common Stock
Footnotes (3)
- [F1]Represents restricted shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into 2.444 restricted common shares. The restricted shares will vest and restrictions will cease to apply on December 31, 2014.
- [F2]Each Notional Unit represents the right to receive one or more restricted common shares of the issuer contingent upon achieving designated share price targets determined at the end of a four-year measurement period ending on December 31, 2013. If the market price of issuer's common shares as of the end of the measurement period is at least $27.295 per share (but less than $29.245 per share), then each Notional Unit will convert into one restricted common share. If the market price of the issuer's common shares as of the end of the measurement period is at least $29.245 per share (but less than $31.19 per share), then each Notional Unit will convert into two restricted common shares. If the market price of issuer's common shares as of the end of the measurement period is at least $31.19 per share, then each Notional Unit will convert into three restricted common shares.
- [F3]These share price targets will be reduced on a penny-for-penny basis with respect to any dividend payments made during the measurement period, provided that in no event will the minimum price target be below $24.18 per share. The conversion ratios for any share prices in between the above targets will be calculated by linear interpolation. If at the end of the four-year measurement period the issuer's share price does not achieve a market price of $27.295 per share, adjusted for any dividends, but such common shares performed above the 50th percentile of the issuer's peer group in terms of total return to shareholders, including the reinvestment of dividends, then each Notional Unit will convert into one restricted common share. Restricted shares issued will vest and restrictions will cease to apply on December 31, 2014.
Documents
Issuer
TANGER FACTORY OUTLET CENTERS INC
CIK 0000899715
Entity typeoperating
IncorporatedNC
Related Parties
1- filerCIK 0000899715
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 5:09 PM ET
- Size
- 9.7 KB