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

Partners' Equity of the Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2015

The following table sets forth the changes in outstanding partnership units for the years ended December 31, 2015, 2014 and 2013:



		Limited Partnership Units
	General partnership units	Class A		Class B		Total
Balance December 31, 2012	1,000,000	4,761,864		93,061,384		97,823,248
Exchange of Class A limited partnership units	—	(67,428	)	67,428		—
Issuance of restricted units	—	—		332,373		332,373
Units issued upon exercise of options	—	—		44,500		44,500
Units issued as consideration for business acquisition (see Note 3)	—	450,576		—		450,576
Balance December 31, 2013	1,000,000	5,145,012		93,505,685		98,650,697
Units withheld for employee income taxes	—	—		(412,239	)	(412,239	)
Exchange of Class A limited partnership units	—	(66,606	)	66,606		—
Issuance of restricted units	—	—		1,302,729		1,302,729
Units issued upon exercise of options	—	—		47,000		47,000
Balance December 31, 2014	1,000,000	5,078,406		94,509,781		99,588,187
Units withheld for employee income taxes	—	—		(31,863	)	(31,863	)
Exchange of Class A limited partnership units	—	(25,663	)	25,663		—
Issuance of restricted units	—	—		348,844		348,844
Units issued upon exercise of options	—	—		28,400		28,400
Balance December 31, 2015	1,000,000	5,052,743		94,880,825		99,933,568