4//SEC Filing
Swanson Gallardo Leslie 4
Accession 0000899715-24-000056
CIK 0000899715other
Filed
Feb 27, 7:00 PM ET
Accepted
Feb 28, 4:34 PM ET
Size
10.8 KB
Accession
0000899715-24-000056
Insider Transaction Report
Form 4
TANGER INC.SKT
Swanson Gallardo Leslie
EVP, Chief Operating Officer
Transactions
- Exercise/Conversion
Common Stock
2024-02-26+46,633→ 115,464 total - Exercise/Conversion
Notional Units
2024-02-26−46,633→ 0 total→ Common Stock - Tax Payment
Common Stock
2024-02-26$28.78/sh−9,175$264,057→ 106,289 total
Footnotes (5)
- [F1]Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into one restricted common share. 50% of the shares vested on February 26, 2024 and the remaining 50% will vest on February 15, 2025, contingent upon continued employment with Tanger Inc. (the "Company") through the vesting dates.
- [F2]This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of stock held by the reporting person.
- [F3]100% of the absolute and relative portions were actually earned. The notional units convert on a pro-rata basis by linear interpolation between share price appreciation thresholds.
- [F4]Represents notional units, each of which converted into an equivalent number of 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 22, 2021 through February 21, 2024.
- [F5]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 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 66.70% 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.
Documents
Issuer
TANGER INC.
CIK 0000899715
Entity typeother
Related Parties
1- filerCIK 0001826424
Filing Metadata
- Form type
- 4
- Filed
- Feb 27, 7:00 PM ET
- Accepted
- Feb 28, 4:34 PM ET
- Size
- 10.8 KB