SAUL CENTERS, INC. — Director's Dealing 2013

Mar 22, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2013-03-21

Reporting Person: SCHNEIDER SCOTT V (Sr. Vice President-CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-21	Series C Preferred Stock	P	3000	$26.133	Acquired	3000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	467.036	Indirect
Common Shares	467.036	Indirect
Common Shares	498.657	Indirect
Common Shares	486.999	Indirect
Common Shares	8397.380	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$25.78	2014-04-26	Common Stock (7500)	7500	Direct
Employee Stock Option	$33.22	2015-05-06	Common Stock (15000)	15000	Direct
Employee Stock Option	$54.17	2017-04-27	Common Stock (15000)	15000	Direct
Employee Stock Option	$41.82	2021-05-13	Common Stock (15000)	15000	Direct
Employee Stock Option	$39.29	2022-05-04	Common Stock (15000)	15000	Direct

Footnotes

F1: The options will vest 25% per year over four years from the date of grant.