SAUL CENTERS, INC. — Director's Dealing 2014

Apr 2, 2014

SEC Form 4/A — Form 4/A

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2013-11-13

Reporting Person: COLLICH JOHN F (Sr. VP-Acquisitions & Dev.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-11-13	Series C Preferred Stock	P	1000	$22.49	Acquired	1000	Direct
2013-11-13	Series C Preferred Stock	P	3000	$22.49	Acquired	3000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	21655.784	Direct
Common Shares	1596.031	Indirect
Series A Preferred Stock	662	Direct
Series A Preferred Stock	2392.138	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$25.78	2014-04-26	Common Stock (3750.0)	3750	Direct
Employee Stock Option	$33.22	2015-05-06	Common Stock (3000.0)	3000	Direct
Employee Stock Option	$54.17	2017-04-27	Common Stock (15000.0)	15000	Direct
Employee Stock Option	$41.82	2021-05-13	Common Stock (15000.0)	15000	Direct
Employee Stock Option	$39.29	2022-05-04	Common Stock (15000.0)	15000	Direct
Employee Stock Option	$44.42	2023-05-10	Common Stock (20000.0)	20000	Direct

Footnotes

F1: Balance increased by October 31, 2013 Dividend Reinvestment Plan award of 165.291 shares and adjusted to correct holdings as of November 13, 2013.

F2: Balance increased by October 31, 2013 Dividend Reinvestment Plan award of 3.765 shares and adjusted to correct holdings as of November 13, 2013.

F3: Balance increased by October 31, 2013 Dividend Reinvestment Plan award of 18.454 shares and adjusted to correct holdings as of November 13, 2013.

F4: The options vest 25% per year over four years from the date of grant.