Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v2.4.1.9
Equity-Based Compensation (Tables) (Tanger Factory Outlet Centers, Inc [Member])
12 Months Ended
Dec. 31, 2014
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, 2014, 2013 and 2012, respectively, as follows (in thousands):
 
 
2014
 
2013
 
2012(1)
Restricted common shares
 
$
9,978

 
$
8,354

 
$
8,497

Notional unit performance awards
 
4,313

 
2,847

 
1,970

Options
 
459

 
175

 
209

Total share based compensation
 
$
14,750

 
$
11,376

 
$
10,676

(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, 2014 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
$
26.06

 
113,000

 
$
26.06

 
6.09
 
52,600

 
$
26.06

32.02

 
257,500

 
32.02

 
9.01
 

 

 
 
370,500

 
$
30.20

 
8.12
 
52,600

 
$
26.06



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, 2014 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, 2013
 
166,300

 
$
24.13

 
 
 
 
Granted
 
282,500

 
32.02

 
 
 
 
Exercised
 
(47,000
)
 
19.22

 
 
 
 
Forfeited
 
(31,300
)
 
31.11

 
 
 
 
Outstanding as of December 31, 2014
 
370,500

 
$
30.20

 
8.12
 
$
2,759

 
 
 
 
 
 
 
 
 
Vested and Expected to Vest as of
 
 
 
 
 
 
 
 
December 31, 2014
 
291,661

 
$
30.07

 
8.05
 
$
2,212

 
 
 
 
 
 
 
 
 
Exercisable as of December 31, 2014
 
52,600

 
$
26.06

 
6.02
 
$
610

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, 2014:
Unvested Restricted Common Shares
 
Number of shares
 
Weighted average grant date fair value
Outstanding at December 31, 2013
 
1,057,966

 
$
26.91

Granted
 
1,307,729

 
26.50

Vested
 
(1,266,245
)
 
24.67

Forfeited
 

 

Outstanding at December 31, 2014
 
1,099,450

 
$
29.01