Form 4 for SKT TANGER INC.
Accepted 2022-02-24 00:00:00 ET · period of report 2022-02-22 · accession 0000899715-22-000057 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2022-02-24 | 2022-02-22 | SKT | Williams James Floyd | CFO, Executive VP | F - Tax | $16.58 | -1,799 | 119.9K | -1% | -$29.8K |
| D | 2022-02-24 | 2022-02-22 | SKT | Williams James Floyd | CFO, Executive VP | M - OptEx | $0.00 | +8,312 | 121.7K | +7% | $0 |
| D | 2022-02-24 | 2022-02-22 | SKT | Williams James Floyd | CFO, Executive VP | M - OptEx | $0.00 | -8,312 | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-02-22 | F | D | 1,799 | $16.58 | 119,875 | D | — | — | |
| 2 | Common | Common Stock | 2022-02-22 | M | A | 8,312 | $0.00 | 121,674 | D | — | — | (F1) Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into .231 restricted common shares. 50% of the shares vest on February 22, 2022 and the remaining 50% will vest on February 15, 2023, contingent upon continued employment with the Company through the vesting dates. |
| 3 | Derivative | Notional Units | 2022-02-22 | M | D | 8,312 | $0.00 | 0 | D | — · — to — | 8,312 Common Stock | (F3) With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 19.1% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 24.3%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 29.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds. (F2) Represents notional units, each of which converted into .231 restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group,over the three-year measurement period from February 18, 2019 through February 17, 2022. (F4) 39.2% of the relative portion was actually earned and none of the absolute portion was earned. The notional units convert on a pro-rata basis by linear interpolation between share price appreciation thresholds. |