Annual report pursuant to Section 13 and 15(d)

Partners' Equity of the Operating Partnership

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Partners' Equity of the Operating Partnership
 12 Months Ended
Dec. 31, 2023
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. Likewise, when the Company repurchases its outstanding common shares, the Operating Partnership repurchases corresponding Class B common limited partnership units held by Tanger LP Trust.

The following table sets forth the changes in outstanding partnership units for the years ended December 31, 2023, 2022 and 2021:
Limited Partnership Units
General partnership units Class A Class B Total
Balance December 31, 2020 1,000,000  4,794,643  92,569,801  97,364,444 
Units withheld for employee income taxes —  —  (139,293) (139,293)
Exchange of Class A limited partnership units —  (33,084) 33,084  — 
Grant of restricted common share awards by the Company, net of forfeitures —  —  569,779  569,779 
Issuance of units 100,000  —  9,909,263  9,909,263 
Options exercised —  —  42,100  42,100 
Balance December 31, 2021 1,100,000  4,761,559  102,984,734  107,746,293 
Units withheld for employee income taxes —  —  (239,824) (239,824)
Exchange of Class A limited partnership units —  (23,577) 23,577  — 
Grant of restricted common share awards by the Company, net of forfeitures —  —  613,933  613,933 
Options exercised —  —  15,500  15,500 
Balance December 31, 2022 1,100,000  4,737,982  103,397,920  108,135,902 
Units withheld for employee income taxes —  —  (379,512) (379,512)
Exchange of Class A limited partnership units —  (30,024) 30,024  — 
Grant of restricted common share awards by the Company, net of forfeitures —  —  1,064,400  1,064,400 
Issuance of units 50,000  —  3,444,919  3,444,919 
Options exercised —  —  85,500  85,500 
Balance December 31, 2023 1,150,000  4,707,958  107,643,251  112,351,209