Tanger Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Partners' Equity of the Operating Partnership

Partners' Equity of the Operating Partnership

9 Months Ended

Sep. 30, 2015

Tanger Properties Limited Partnership [Member]

Schedule of Partners' Equity of the Operating Partnership [Line Items]

Partners' Equity of the Operating Partnership

All units of partnership interest issued by the Operating Partnership have equal rights with respect to earnings, dividends and net assets. When the Company issues common shares upon the exercise of options, the issuance of restricted share awards or the exchange of Class A common limited partnership units, the Operating Partnership issues a corresponding Class B common limited partnership unit to Tanger LP trust, a wholly owned subsidiary of the Company.

The following table sets forth the changes in outstanding partnership units for the nine months ended September 30, 2015 and September 30, 2014.



		Limited Partnership Units
	General Partnership Units	Class A		Class B		Total
Balance December 31, 2013	1,000,000	5,145,012		93,505,685		98,650,697
Exchange of Class A limited partnership units	—	(43,331	)	43,331		—
Issuance of restricted units	—	—		1,302,729		1,302,729
Units issued upon exercise of options	—	—		46,700		46,700
Balance September 30, 2014	1,000,000	5,101,681		94,898,445		100,000,126

Balance December 31, 2014	1,000,000	5,078,406		94,509,781		99,588,187
Issuance of restricted units	—	—		348,844		348,844
Units issued upon exercise of options	—	—		16,400		16,400
Units withheld for employee income taxes	—	—		(31,532	)	(31,532	)
Balance September 30, 2015	1,000,000	5,078,406		94,843,493		99,921,899