Annual report pursuant to Section 13 and 15(d)

Share-based Compensation of the Company (Tables)

v2.4.0.6
Share-based Compensation of the Company (Tables) (Tanger Factory Outlet Centers, Inc [Member])
12 Months Ended
Dec. 31, 2012
Tanger Factory Outlet Centers, Inc [Member]
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
We recorded share based compensation expense in general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2012, 2011 and 2010, respectively, as follows (in thousands):
 
 
2012
 
2011
 
2010
Restricted common shares
 
$
8,485

 
$
5,227

 
$
4,095

Notional unit performance awards
 
1,970

 
1,885

 
1,753

Options
 
209

 
179

 

Total share based compensation
 
$
10,664

 
$
7,291

 
$
5,848

(1) For the year ended December 31, 2012, includes approximately $1.3 million of compensation expense related to 45,000 common shares that vested immediately upon grant related to the Employment Agreement described above.

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
Options outstanding at December 31, 2012 had the following weighted average exercise prices and weighted average remaining contractual lives:

 
 
Options Outstanding
 
 
 
Options Exercisable
Exercise prices
 
Options
 
Weighted average exercise price
 
Weighted remaining contractual life in years
 
Options
 
Weighted average exercise price
$9.71
 
41,000

 
$
9.71

 
1.32
 
41,000

 
$
9.71

$11.81
 
12,000

 
11.81

 
1.84
 
12,000

 
11.81

$26.06
 
162,800

 
26.06

 
8.14
 
28,000

 
26.06

 
 
215,800

 
$
22.16

 
6.50
 
81,000

 
$
15.67



Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of option activity under our Amended and Restated Incentive Award Plan as of December 31, 2012 and changes during the year then ended is presented below (aggregate intrinsic value amount in thousands):

Options
 
Shares
 
Weighted-average exercise price
 
Weighted-average remaining contractual life in years
 
Aggregate intrinsic value
Outstanding as of December 31, 2011
 
261,200

 
$
20.92

 
 
 
 
Granted
 

 

 
 
 
 
Exercised
 
(37,700
)
 
12.74

 
 
 
 
Forfeited
 
(7,700
)
 
26.06

 
 
 
 
Outstanding as of December 31, 2012
 
215,800

 
$
22.16

 
6.50
 
$
2,583

 
 
 
 
 
 
 
 
 
Vested and Expected to Vest as of
 
 
 
 
 
 
 
 
December 31, 2012
 
182,762

 
$
21.46

 
6.20
 
$
2,316

 
 
 
 
 
 
 
 
 
Exercisable as of December 31, 2012
 
81,000

 
$
15.67

 
3.74
 
$
1,495

Schedule of Share-based Compensation, Restricted Stock Units Award Activity
The following table summarizes information related to unvested restricted common shares outstanding as of December 31, 2012:

Unvested Restricted Common Shares
 
Number of shares
 
Weighted average grant date fair value
Unvested at December 31, 2011
 
791,337

 
$
20.93

Granted
 
571,000

 
27.90

Vested
 
(309,344
)
 
21.92

Forfeited
 
(5,000
)
 
29.50

Unvested at December 31, 2012
 
1,047,993

 
$
24.39