Form 4 for SKT TANGER INC.
Accepted 2023-03-16 00:00:00 ET · period of report 2023-03-14 · accession 0000899715-23-000071 · 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 | 2023-03-16 | 2023-03-14 | SKT | Yalof Stephen | Pres, CEO | A - Grant | $0.00 | +79.9K | 690.0K | +13% | $0 |
| D | 2023-03-16 | 2023-03-14 | SKT | Yalof Stephen | Pres, CEO | A - Grant | $0.00 | +173.8K | 173.8K | New | $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 | 2023-03-14 | A | A | 79,864 | $0.00 | 689,959 | D | — | — | (F1) Represents a grant of restricted common shares under the Company's Amended and Restated Incentive Award Plan. The restricted common shares vest and the restrictions cease to apply on one-third of the award on each March 15th over a three year period beginning March 15th, 2024. |
| 2 | Derivative | Notional Units | 2023-03-14 | A | A | 173,842 | $0.00 | 173,842 | D | — · — to — | 173,842 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 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. 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 a grant of performance shares which may convert into an equivalent number of restricted common shares of the Company based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to a selected group, over the three-year measurement period from March 14, 2023 through March 13, 2026 (F4) Any restricted common shares earned on March 13, 2026 are subject to a time based vesting schedule. 50% of the shares will vest on March 20, 2026 and the remaining 50% will vest on March 15, 2027, contingent upon continued employment with the Company through the vesting dates. |