Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events
12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events

In January 2021, the Company's Board of Directors declared a $0.1775 cash dividend per common share payable on February 12, 2021 to each shareholder of record on January 29, 2021, and the Trustees of Tanger GP Trust declared a $0.1775 cash distribution per Operating Partnership unit to the Operating Partnership's unitholders.


In January 2021, we sold a non-core outlet center in Jeffersonville, OH for net proceeds of $8.1 million, which resulted in no gain or loss on sale of assets.

Equity Grants

During February 2021, the Compensation Committee of the Company approved the general terms of the Tanger Factory Outlet Centers, Inc. 2021 Outperformance Plan (the “2021 OPP”) covering the Company's senior executive officers whereby the value of approximately $6.2 million restricted common shares may be earned if certain share price appreciation goals are achieved over a three year measurement period. Also during February 2021, the Company granted a value of approximately $5.8 million restricted common shares and restricted share units to the Company's non-employee directors and the Company's senior executive officers.