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TANGER INC. — Director's Dealing 2012
Jun 5, 2012
31204_dirs_2012-06-04_b446c2a5-b964-4afd-bfe5-2ec9d511255d.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2012-05-21
Reporting Person: TANGER STEVEN B (Director, President and CEO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2012-05-21 | Limited Partnership Units | $0 | G | 22481 | Acquired | Common Stock (89924) | Indirect | |
| 2012-06-01 | Limited Partnership Units | $0 | G | 210000 | Disposed | Common Stock (840000) | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Limited Partnership Units | $0 | Common Stock (2817208) | 704302 | Indirect |
Footnotes
F1: Each limited partnership unit is immediately exchangeable into 4 common shares of Tanger Factory Outlet Centers, Inc.
F2: The securities were acquired 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.
F4: Mr. Tanger has transferred such units to a trust as part of his long-term tax and financial planning strategy, including diversification of assets. Mr. Tanger is the beneficiary of the trust, but is not the trustee and does not otherwise have or share investment or voting control with respect to such securities held by the trust. As such, Mr. Tanger is no longer considered the beneficial owner of such units. Additionally, the trustee has informed Mr. Tanger that the units will be exchanged into common shares by the trust, and that such common shares are likely to be sold in the public market following the exchange.
F5: Excludes 704,302 limited partnership units previously owned directly which were transferred to Tango 7, LLC on June 4, 2012. Mr. Tanger Tanger holds, directly or indirectly, all of the ownership interests in Tango 7 LLC and has sole investment and voting power with respect to these securities.