4//SEC Filing
Norman Jessica K 4
Accession 0000899715-23-000142
CIK 0000899715other
Filed
Oct 3, 8:00 PM ET
Accepted
Oct 4, 4:49 PM ET
Size
10.5 KB
Accession
0000899715-23-000142
Insider Transaction Report
Form 4
Norman Jessica K
EVP, General Counsel,Secretary
Transactions
- Award
Common Stock
2023-10-02$22.60/sh+17,700$400,020→ 17,700 total - Award
Common Stock
2023-10-02$22.60/sh+3,768$85,157→ 21,468 total - Award
Notional Units
2023-10-02+10,574→ 10,574 total→ Common Stock (10,574 underlying)
Footnotes (5)
- [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 50% of the award on October 2, 2025, 25% of the award on October 2, 2026 and 25% of the award on October 2, 2027.
- [F2]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 one-third of the award on each October 2nd over a three-year period beginning October 2, 2024.
- [F3]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 March 14, 2023 through March 13, 2026.
- [F4]With respect to 33% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals, 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.7% 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 pr-rata basis by linear interpolation between share price appreciation thresholds.
- [F5]Any restricted common shares earned on March 13, 2026 are subject to a time based vesting schedule. 50% of the shares will vest on March 20, 2026 and the remaining 50% will vest on March 15, 2027, 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 0001776899
Filing Metadata
- Form type
- 4
- Filed
- Oct 3, 8:00 PM ET
- Accepted
- Oct 4, 4:49 PM ET
- Size
- 10.5 KB