4//SEC Filing
TANGER FACTORY OUTLET CENTERS INC 4
Accession 0000899715-17-000023
$SKTCIK 0000899715operating
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 6:23 PM ET
Size
10.3 KB
Accession
0000899715-17-000023
Insider Transaction Report
Form 4
McDonough Thomas E.
Executive VP of Operations
Transactions
- Exercise/Conversion
Common Stock
2017-01-02+31,558→ 202,954 total - Tax Payment
Common Stock
2017-01-02$35.78/sh−5,370$192,139→ 197,584 total - Exercise/Conversion
Notional Units
2017-01-02−48,000→ 0 total→ Common Stock (31,558 underlying)
Footnotes (4)
- [F1]Represents restricted shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into .6575 restricted common shares. 50% of the shares vest on January 2, 2017 and the remaining 50% will vest on January 2, 2018, contingent upon continued employment with the Company through the vesting dates.
- [F2]Represents notional units, each of which converted into .6575 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 January 1, 2014 through December 31, 2016.
- [F3]With respect to 70% of the notional units (the Absolute Portion), 33.33% of this portion of the award would be earned if the Company's aggregate TSR equaled 25% over the three-year measurement period, 66.67% of the award would be earned if the Company's TSR equaled 30%, and 100% of this portion of the award would be earned if the Company's TSR equaled or exceeded 35%. With respect to 30% of the notional units (the Relative Portion), 33.33% of this portion of the award would be earned if the Company's TSR was in the 50th percentile of its peer group over the three-year measurement period, 66.67% of this portion of the award would be earned if the Company's TSR was in the 60th percentile of its peer group during this period, and 100% of this portion of the award would be earned if the Company's TSR was in the 70th percentile of its peer group or greater during this period.
- [F4]93.9% of the Absolute Portion was actually earned and none of the Relative Portion was earned. The notional units convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
Documents
Issuer
TANGER FACTORY OUTLET CENTERS INC
CIK 0000899715
Entity typeoperating
IncorporatedNC
Related Parties
1- filerCIK 0000899715
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 6:23 PM ET
- Size
- 10.3 KB