{"transactions":[{"id":831511,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Notional Units","published_at":"2026-03-23T20:37:38.000Z","date":"2026-03-20","kind":"exercise","planned":false,"acquired":false,"shares":24835,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"security","element":"securityTitle","label":"F3","text":"100% of the absolute and relative portions were actually earned."},{"field":"security","element":"securityTitle","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"security","element":"securityTitle","label":"F5","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F3","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"price","element":"transactionPricePerShare","label":"F3","text":"100% of the absolute and relative portions were actually earned."},{"field":"price","element":"transactionPricePerShare","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"price","element":"transactionPricePerShare","label":"F5","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F3","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F5","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F3","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F4","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its\nTSR relative to its peer group, over the three-year measurement period from March 14, 2023 through March 13, 2026."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."}],"balance_after":0,"derivative":{"underlying":"Common Stock","underlying_shares":24835},"source":{"system":"sec-edgar","filing":"0001628280-26-020554","document":"wk-form4_1774298255.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026020554/wk-form4_1774298255.xml","form_type":"4"}},{"id":831510,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Common Stock","published_at":"2026-03-23T20:37:38.000Z","date":"2026-03-20","kind":"tax_withholding","planned":false,"acquired":false,"shares":6337,"price":35.48,"value":224836.76,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of shares held by the reporting person. On March 20, 2026, 12,418 restricted shares vested, with 6,337 shares withheld to cover tax withholding liability."}],"balance_after":64757,"source":{"system":"sec-edgar","filing":"0001628280-26-020554","document":"wk-form4_1774298255.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026020554/wk-form4_1774298255.xml","form_type":"4"}},{"id":831509,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Common Stock","published_at":"2026-03-23T20:37:38.000Z","date":"2026-03-20","kind":"exercise","planned":false,"acquired":true,"shares":24835,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Represents restricted common shares received from the conversion of notional units. Based on the share price targets achieved, each notional unit was converted into one restricted common share.\n50% of the shares vested on March 20, 2026 and the remaining 50% will vest on March 15, 2027, contingent upon continued employment with the Tanger Inc. (the \"Company\") through the vesting dates."}],"balance_after":71094,"source":{"system":"sec-edgar","filing":"0001628280-26-020554","document":"wk-form4_1774298255.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026020554/wk-form4_1774298255.xml","form_type":"4"}},{"id":839759,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Common Stock","published_at":"2026-03-17T20:05:49.000Z","date":"2026-03-16","kind":"tax_withholding","planned":false,"acquired":false,"shares":1930,"price":35.15,"value":67839.5,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of stock held by the reporting person. On March 16, 2026, 3,803 restricted shares vested, with 1,930 shares withheld to cover tax withholding liability."}],"balance_after":46259,"source":{"system":"sec-edgar","filing":"0001628280-26-018704","document":"wk-form4_1773777947.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026018704/wk-form4_1773777947.xml","form_type":"4"}},{"id":898571,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Limited Partnership Units exchangeable for Common Stock","published_at":"2026-02-19T01:13:44.000Z","date":"2026-02-13","kind":"grant","planned":false,"acquired":true,"shares":10712,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"security","element":"securityTitle","label":"F2","text":"Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F2","text":"Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes."},{"field":"shares","element":"transactionShares","label":"F3","text":"These Basic LTIP Units are scheduled to vest one-third on February 15th of each year of the first three calendar years following the grant (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes."}],"balance_after":10712,"derivative":{"underlying":"Common Stock","underlying_shares":10712},"source":{"system":"sec-edgar","filing":"0001628280-26-009410","document":"wk-form4_1771463621.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026009410/wk-form4_1771463621.xml","form_type":"4"}},{"id":898570,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Chief Revenue Officer"}}],"security":"Common Stock","published_at":"2026-02-19T01:13:44.000Z","date":"2026-02-17","kind":"tax_withholding","planned":false,"acquired":false,"shares":10036,"price":33.82,"value":339417.52,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of stock held by the reporting person. On February 17, 2026, 19,349 restricted shares vested, with 10,036 shares withheld to cover tax withholding liability."}],"balance_after":48189,"source":{"system":"sec-edgar","filing":"0001628280-26-009410","document":"wk-form4_1771463621.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/899715/000162828026009410/wk-form4_1771463621.xml","form_type":"4"}},{"id":1201976,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Leasing"}}],"security":"Common Stock","published_at":"2025-03-18T20:44:34.000Z","date":"2025-03-17","kind":"tax_withholding","planned":false,"acquired":false,"shares":1900,"price":31.95,"value":60705.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"This forfeiture was undertaken solely to satisfy a tax withholding liability related to the vesting of stock held by the reporting person. On March 17, 2025, 3,803 restricted shares vested, with 1,900 shares withheld to cover tax withholding liability."}],"balance_after":58225,"source":{"system":"sec-edgar","filing":"0000899715-25-000089","document":"wk-form4_1742330667.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/899715/000089971525000089/wk-form4_1742330667.xml","form_type":"4"}},{"id":1241746,"issuer":{"id":3969,"kind":"organization","name":"TANGER INC.","symbol":"SKT"},"owners":[{"id":56684,"kind":"person","name":"Stein Justin C","position":1,"cik":"0001913505","reported_name":"Stein Justin C","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"EVP, Leasing"}}],"security":"Notional Units","published_at":"2025-02-28T01:58:47.000Z","date":"2025-02-27","kind":"exercise","planned":false,"acquired":false,"shares":25685,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"security","element":"securityTitle","label":"F4","text":"100% of the absolute and relative portions were actually earned."},{"field":"security","element":"securityTitle","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"security","element":"securityTitle","label":"F6","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F4","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F6","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"price","element":"transactionPricePerShare","label":"F4","text":"100% of the absolute and relative portions were actually earned."},{"field":"price","element":"transactionPricePerShare","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F4","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F6","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. The performance shares will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F4","text":"100% of the absolute and relative portions were actually earned."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"Represents notional units, each of which converted into an equivalent number of restricted common shares based on the Company's share price appreciation inclusive of all dividends (TSR), and its TSR relative to its peer group, over the three-year measurement period from February 23, 2022 through February 22, 2025."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"With respect to 33.30% of the performance shares, 20% of this portion of the award will be earned if the Company's aggregate TSR equals 26.0% over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's aggregate TSR equals 33.1%, and 100% of this portion of the award will be earned if the Company's aggregate TSR equals or exceeds 40.5%. With respect to the other 66.70% of the performance shares, 20% of this portion of the award will be earned if the Company's TSR is in the 30th percentile of its peer group over the 3-year measurement period, 60% of this portion of the award will be earned if the Company's TSR is in the 55th percentile of its peer group during this period, and 100% of this portion of the award will be earned if the Company's TSR is in the 80th percentile of its peer group or greater during this period. 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