4//SEC Filing
MORRISON LISA J 4
Accession 0000899715-21-000047
CIK 0000899715other
Filed
Feb 18, 7:00 PM ET
Accepted
Feb 19, 5:54 PM ET
Size
10.5 KB
Accession
0000899715-21-000047
Insider Transaction Report
Form 4
MORRISON LISA J
Senior VP Leasing
Transactions
- Exercise/Conversion
Common Stock
2021-02-17+1,988→ 48,969 total - Tax Payment
Common Stock
2021-02-17$14.10/sh−429$6,049→ 48,540 total - Exercise/Conversion
Notional Units
2021-02-17−1,988→ 0 total→ Common Stock
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 .2037 restricted common shares. 50% of the shares vest on February 17, 2021 and the remaining 50% will vest on February 17, 2022, contingent upon continued employment with the Company through the vesting dates.
- [F2]Represents notional units, each of which converted into .2037 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 February 16, 2018 through February 15, 2021.
- [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]30.52% of the relative portion was actually earned and none of the absolute 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 typeother
Related Parties
1- filerCIK 0001218076
Filing Metadata
- Form type
- 4
- Filed
- Feb 18, 7:00 PM ET
- Accepted
- Feb 19, 5:54 PM ET
- Size
- 10.5 KB