TANGER INC. — Director's Dealing 2012

Aug 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2012-07-31

Reporting Person: TANGER STEVEN B (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-31	Common Stock	C	7800	—	Acquired	7800	Indirect
2012-08-03	Common Stock	S	7800	$33.45	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-31	Limited Partnership Units	$0	C	1950	Disposed		Common Stock (7800)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	592800	Direct

Footnotes

F1: Each limited partnership unit is immediately exchangeable into 4 common shares of Tanger Factory Outlet Centers, Inc.

F2: These securities are held by the Tanger 2012 Hancock Insurance Trust, of which Mr. Tanger and his sister, Susan Nehmen, are co-trustees. The beneficiaries of the trust are the grandchildren of Stanley and Doris Tanger, Mr. Tanger's parents. As such, Mr. Tanger disclaims beneficial ownership of these securities.

F3: The limited partnership units have no expiration date.