TANGER INC. — Director's Dealing 2014

Feb 13, 2014

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2013-12-31

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-13	Limited Partnership Units	$0.0	G	90108	Acquired		Common Stock (90108.0)	Direct
2013-12-16	Limited Partnership Units	$0.0	G	90108	Disposed		Common Stock (90108.0)	Direct
2013-12-16	Limited Partnership Units	$0.0	G	90108	Acquired		Common Stock (90108.0)	Indirect

Footnotes

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

F2: The limited partnership units have no expiration date.

F3: Mr. Tanger transferred his limited partnership units to Tango 7 LLC. Mr. 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.