Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation of the Operating Partnership (Tables)

v2.4.0.6
Equity-Based Compensation of the Operating Partnership (Tables) (Tanger Properties Limited Partnership)
3 Months Ended
Mar. 31, 2012
Tanger Properties Limited Partnership
 
Disclosure of Equity-based Compensation Arrangements by Equity-based Payment Award [Table Text Block]
We recorded equity-based compensation expense in general and administrative expenses in our consolidated statements of operations for the three months ended March 31, 2012 and 2011 as follows (in thousands):
 
 
Three Months Ended
March 31,
 
 
2012
 
2011
Restricted units (1)
 
$
2,850

 
$
1,266

Notional unit performance awards
 
489

 
507

Options
 
52

 
25

Total equity-based compensation
 
$
3,391

 
$
1,798

(1) Includes approximately $1.3 million of compensation expense related to 11,250 units issued related to a restricted share grant that vested immediately pursuant to the Employment Agreement as described in footnote 9.
Schedule of Equity-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

The following table summarizes information related to unvested restricted units outstanding as of March 31, 2012:
Unvested Restricted Units
 
Number of units
 
Weighted-average grant date fair value
Unvested at December 31, 2011
 
197,834

 
$
83.70

Granted
 
142,750

 
111.60

Vested
 
(68,450
)
 
85.75

Forfeited
 
(1,250
)
 
118.00

Unvested at March 31, 2012
 
270,884

 
$
93.73