Quarterly report pursuant to Section 13 or 15(d)

Partners' Equity of the Operating Partnership

v3.20.2
Partners' Equity of the Operating Partnership
 9 Months Ended
Sep. 30, 2020
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 grant of restricted common 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. Likewise, when the Company repurchases its outstanding common shares, the Operating Partnership repurchases a corresponding Class B common limited partnership unit held by Tanger LP Trust.

The following table sets forth the changes in outstanding partnership units for the three and nine months ended September 30, 2020 and September 30, 2019:
Limited Partnership Units
General Partnership Units Class A Class B Total
Balance June 30, 2019 1,000,000  4,960,684  92,544,267  97,504,951 
Repurchase of units —  —  (650,929) (650,929)
Balance September 30, 2019 1,000,000  4,960,684  91,893,338  96,854,022 
Balance December 31, 2018 1,000,000  4,960,684  92,941,783  97,902,467 
Grant of restricted common share awards by the Company, net of forfeitures —  —  242,167  242,167 
Repurchase of units —  —  (1,209,328) (1,209,328)
Units withheld for employee income taxes —  —  (81,284) (81,284)
Balance September 30, 2019 1,000,000  4,960,684  91,893,338  96,854,022 
Balance June 30, 2020 1,000,000  4,911,173  92,472,267  97,383,440 
Forfeitures of restricted common share awards —  —  (18,996) (18,996)
Balance September 30, 2020 1,000,000  4,911,173  92,453,271  97,364,444 
Balance December 31, 2019 1,000,000  4,911,173  91,892,260  96,803,433 
Grant of restricted common share awards by the Company, net of forfeitures —  —  611,350  611,350 
Issuance of deferred units —  —  6,258  6,258 
Units withheld for employee income taxes —  —  (56,597) (56,597)
Balance September 30, 2020 1,000,000  4,911,173  92,453,271  97,364,444