4//SEC Filing
Worsham Charles Allen 4
Accession 0000899715-19-000055
CIK 0000899715other
Filed
Feb 18, 7:00 PM ET
Accepted
Feb 19, 5:37 PM ET
Size
10.1 KB
Accession
0000899715-19-000055
Insider Transaction Report
Form 4
Worsham Charles Allen
SVP,Construction & Development
Transactions
- Award
Common Stock
2019-02-18+9,143→ 38,636 total - Award
Notional Units
2019-02-18+13,446→ 13,446 total→ Common Stock (13,446 underlying) - Tax Payment
Common Stock
2019-02-15$21.80/sh−3,000$65,400→ 29,493 total
Footnotes (4)
- [F1]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 twenty percent of the award on each February 15th over a five year period beginning February 15, 2020.
- [F2]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 February 18, 2019 through February 17, 2022.
- [F3]With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 19.1% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 24.23%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 29.5%. With respect to the other 66.70% 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 pro-rata basis by linear interpolation between share price appreciation thresholds.
- [F4]Any restricted common shares earned on February 17, 2022 are subject to a time based vesting schedule. 50% of the shares will vest on February 22, 2022 and the remaining 50% will vest on February 15, 2023, 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 0001609003
Filing Metadata
- Form type
- 4
- Filed
- Feb 18, 7:00 PM ET
- Accepted
- Feb 19, 5:37 PM ET
- Size
- 10.1 KB