Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v2.4.0.8
Equity-Based Compensation (Tables) (Tanger Factory Outlet Centers, Inc [Member])
12 Months Ended
Dec. 31, 2013
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, 2013, 2012 and 2011, respectively, as follows (in thousands):
 
 
2013
 
2012
 
2011
Restricted common shares
 
$
8,354

 
$
8,497

 
$
5,227

Notional unit performance awards
 
2,847

 
1,970

 
1,885

Options
 
175

 
209

 
179

Total share based compensation
 
$
11,376

 
$
10,676

 
$
7,291

(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
Options outstanding at December 31, 2013 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

 
9,200

 
$
9.71

 
0.32
 
9,200

 
$
9.71

11.81

 
12,000

 
11.81

 
0.84
 
12,000

 
11.81

26.06

 
145,100

 
26.06

 
7.10
 
48,200

 
26.06

 
 
166,300

 
$
24.13

 
6.28
 
69,400

 
$
21.43



Schedule of Share-based Compensation, Stock Options, Activity
A summary of option activity under our Amended and Restated Incentive Award Plan as of December 31, 2013 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, 2012
 
215,800

 
$
22.16

 
 
 
 
Granted
 

 

 
 
 
 
Exercised
 
(44,500
)
 
14.37

 
 
 
 
Forfeited
 
(5,000
)
 
26.06

 
 
 
 
Outstanding as of December 31, 2013
 
166,300

 
$
24.13

 
6.28
 
$
1,334

 
 
 
 
 
 
 
 
 
Vested and Expected to Vest as of
 
 
 
 
 
 
 
 
December 31, 2013
 
140,020

 
$
23.76

 
6.11
 
$
1,174

 
 
 
 
 
 
 
 
 
Exercisable as of December 31, 2013
 
69,400

 
$
21.43

 
5.05
 
$
744

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, 2013:
Unvested Restricted Common Shares
 
Number of shares
 
Weighted average grant date fair value
Unvested at December 31, 2012
 
1,047,993

 
$
24.39

Granted
 
349,373

 
31.01

Vested
 
(327,400
)
 
23.26

Forfeited
 
(12,000
)
 
25.61

Unvested at December 31, 2013
 
1,057,966

 
$
26.91