# EDGAR Filing Document

**Accession Number:** 0001216940
**File Stem:** 0000899715-23-000027
**Filing Date:** 2023-2
**Character Count:** 7760
**Document Hash:** bb6c693827672e4e27994f6ecc1fa403
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899715-23-000027.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0000899715-23-000027

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230215

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** TANGER STEVEN B
- **CENTRAL INDEX KEY:** 0001216940

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11986
- **FILM NUMBER:** 23644386
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TANGER FACTORY OUTLET CENTERS, INC
- **CENTRAL INDEX KEY:** 0000899715
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 561815473
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 3200 NORTHLINE AVENUE SUITE 360
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27408
- **BUSINESS PHONE:** 3362923010

**MAIL ADDRESS:**
- **STREET 1:** 3200 NORTHLINE AVENUE SUITE 360
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TANGER FACTORY OUTLET CENTERS INC
- **DATE OF NAME CHANGE:** 19930401

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>TANGER STEVEN B<br><sub>(Last) (First) (Middle)</sub><br>3200 NORTHLINE AVENUE, SUITE 360<br><sub>(Street)</sub><br>GREENSBORO, NC 27408<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Executive Chair of the Board_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>TANGER FACTORY OUTLET CENTERS, INC [ SKT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-15 |  | M |  | 300404<sup>(1)</sup> | A | $0 | 1575090 | D |  |
| Common Stock | 2023-02-15 |  | F |  | 95926 | D | $18.79 | 1479164 | D |  |
| Common Stock |  |  |  |  |  |  |  | 5000 | I | By wife |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Notional Units<sup>(2)(3)(4)</sup> | <sup>(2)(3)(4)</sup> | 2023-02-15 |  | M |  |  | 300404 | <sup>(2)</sup> | <sup>(2)(3)(4)</sup> | Common Stock | 300404.0<sup>(2)(3)(4)</sup> | 0<sup>(2)(3)(4)</sup> | 0 | D |  |

---

### Footnotes:

(1) 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 15, 2023 and the remaining 50% will vest on February 15, 2024, contingent upon continued employment with the Company through the vesting dates.

(2) 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 11, 2020 through February 10, 2023, as certified by the Compensation Committee on February 14, 2023.

(3) With respect to 33.30% of the performance shares, 20% of this portion of the award was earned if the Company's aggregate TSR equals 36.8% over the 3-year measurement period, 60% of this portion of the award was earned if the Company's aggregate TSR equals 44.3%, and 100% of this portion of the award was earned if the Company's aggregate TSR equals or exceeds 52.1%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award was 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 was 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 was earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares converted on a pro-rata basis by linear interpolation between share price appreciation thresholds.

(4) 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.

**Signature:** /s/ Thomas J. Guerrieri Jr., attorney-in-fact for Mr. Tanger  
**Date:** 2023-02-17

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**