Tanger Factory Outlet president exercises options

By Associated Press
May 22, 2008 | Comments (0)

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The president and chief operating officer of outlet-center operator Tanger Factory Outlet Centers Inc. exercised options for 10,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.

In a Form 4 filed with the SEC, Steven B. Tanger reported he exercised options for the shares on Monday for $19.41 apiece and then sold them all the same day for $40.40 apiece.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Tanger is based in Greensboro, N.C.

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