TANGER INC. — Director's Dealing 2016

May 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TANGER FACTORY OUTLET CENTERS INC (SKT)
CIK: 0000899715
Period of Report: 2016-05-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-02	Common Stock	S	20000	$35.56	Disposed	882528	Direct
2016-05-04	Common Stock	S	65000	$35.86	Disposed	817528	Direct

Footnotes

F1: Represents the weighted average share price of multiple transactions ranging from $35.52 to $35.60.

F2: Represents the weighted average sales price of multiple transactions ranging from $35.65 to $36.00.