Equity-Based Compensation of the Company (Tables) - Tanger Factory Outlet Centers, Inc. [Member]
|6 Months Ended
Jun. 30, 2021
|Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
We recorded equity-based compensation expense in general and administrative expenses in our consolidated statements of operations as follows (in thousands):
(1) The six months ended June 30, 2021 includes the accelerated recognition of compensation cost.
Equity-based compensation expense capitalized as a part of rental property and deferred lease costs were as follows (in thousands):
|Schedule of Nonvested Performance-based Units Activity
The following table sets forth 2021 PSP performance targets and other relevant information about the 2021 PSP:
(1)The number of restricted common shares received under the 2021 PSP will be determined on a pro-rata basis by linear interpolation between total shareholder return thresholds, both for absolute total shareholder return and for relative total shareholder return amongst the Company’s peer group.
(2)The peer group is based on companies included in the FTSE NAREIT Retail Index.
|Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair values of the 2021 PSP awards granted during the six months ended June 30, 2021 were determined at the grant dates using a Monte Carlo simulation pricing model and the following assumptions:
(1)Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the restricted unit grants.
(2)The dividend yield is calculated utilizing the dividends paid for the previous five-year period.(3)Based on a mix of historical and implied volatility for our common shares and the common shares of our peer index companies over the measurement period.