Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation of the Operating Partnership (Tables)

Equity-Based Compensation of the Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Equity-based Compensation, Restricted Stock Units Award Activity

The following table summarizes information related to unvested restricted units outstanding as of December 31, 2012:



Unvested Restricted Units	Number of units		Weighted average grant date fair value
Unvested at December 31, 2011	197,834		$	83.70
Granted	142,750		111.59
Vested	(77,336	)	87.69
Forfeited	(1,250	)	118.00
Unvested at December 31, 2012	261,998		$	97.56

Tanger Properties Limited Partnership [Member]

Disclosure of Equity-based Compensation Arrangements by Equity-based Payment Award

We recorded equity-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 units ⁽¹⁾	$	8,485	$	5,227	$	4,095
Notional unit performance awards	1,970		1,885		1,753
Options	209		179		—
Total equity based compensation	$	10,664	$	7,291	$	5,848

(1) For the twelve months ended December 31, 2012, includes approximately $1.3 million of compensation expense related to 11,250 units issued related to a restricted share grant that vested immediately pursuant to the Employment Agreement as described in footnote 16.

Schedule of Equity-based Compensation, Units 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
Range of exercise prices	Options	Weighted average exercise price		Weighted remaining contractual life in years	Options	Weighted average exercise price
$38.83	10,250	$	38.83	1.32	10,250	$	38.83
$47.25	3,000	47.25		1.84	3,000	47.25
$104.24	40,700	104.24		8.14	7,000	104.24
	53,950	$	88.64	6.50	20,250	$	62.69

Schedule of Equity-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	Units		Weighted-average exercise price		Weighted-average remaining contractual life in years	Aggregate intrinsic value
Outstanding as of December 31, 2011	65,300		$	83.66
Granted	—		—
Exercised	(9,425	)	50.96
Forfeited	(1,925	)	104.24
Outstanding as of December 31, 2012	53,950		$	88.64	6.50	$	2,583

Vested and Expected to Vest as of
December 31, 2012	45,691		$	85.82	6.20	$	2,316

Exercisable as of December 31, 2012	20,250		$	62.69	3.74	$	1,495

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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