Annual report pursuant to Section 13 and 15(d)

Partners' Equity of the Operating Partnership

v3.6.0.2
Partners' Equity of the Operating Partnership
 12 Months Ended
Dec. 31, 2016
Tanger Properties Limited Partnership [Member]  
Schedule of Partners' Equity of the Operating Partnership [Line Items]  
Partners' Equity of the Operating Partnership
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 years ended December 31, 2016, 2015 and 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

Units withheld for employee income taxes
 
—

 
—

 
(412,239
)
 
(412,239
)
Exchange of Class A limited partnership units
 
—

 
(66,606
)
 
66,606

 
—

Grant of restricted common share awards by the Company, net of forfeitures
 
—

 
—

 
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

 
—

Grant of restricted common share awards by the Company, net of forfeitures
 
—

 
—

 
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

Units withheld for employee income taxes
 
—

 
—

 
(66,760
)
 
(66,760
)
Exchange of Class A limited partnership units
 
—

 
(24,962
)
 
24,962

 
—

Grant of restricted common share awards by the Company, net of forfeitures
 
—

 
—

 
173,124

 
173,124

Issuance of deferred units
 
—

 
—

 
24,040

 
24,040

Units issued upon exercise of options
 
—

 
—

 
59,700

 
59,700

Balance December 31, 2016
 
1,000,000

 
5,027,781

 
95,095,891

 
100,123,672