TANGER INC. — Director's Dealing 2012

Mar 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2012-02-28

Reporting Person: MARCHISELLO FRANK C JR (Executive VP, CFO, Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-28	Common Stock	S	32400	$29.047	Disposed	282824	Direct
2012-02-28	Common Stock	S	21600	$29.009	Disposed	261224	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	360	Indirect

Footnotes

F1: Represents weighted average sale price of multiple transactions ranging from $29.00 to $29.145.

F2: Represents weighted average sale price of multiple transactions ranging from $28.905 to $29.13.

F3: Securities sold pursuant to a plan intended to comply with Rule 10b5-1, previously adopted on May 27, 2008 and amended on May 17, 2011 to direct the sale of certain restricted shares upon vesting to cover the applicable withholding taxes due upon vesting.