TANGER INC. — Director's Dealing 2010

Jan 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2010-01-11

Reporting Person: TANGER STANLEY K (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-11	Common Stock	A	2548	—	Acquired	2548	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	446264	Direct
Common Stock	278062	Indirect
Common Stock	2000	Indirect

Footnotes

F1: Represents grant of restricted shares approved by the Company's Board of Directors on January 11, 2010 under the Company's Amended and Restated Incentive Award Plan. The restricted shares vest evenly over a three year period on December 31st of each year.

F2: Includes 278,062 shares of Common Stock owned by the Tanger Family Limited Partnership, of which Mr. Tanger is the general partner.