SAUL CENTERS, INC. — Director's Dealing 2015

Oct 13, 2015

SEC Form 4/A — Form 4/A

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2015-10-01

Reporting Person: LONGSWORTH CHARLES R (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-10-01	Phantom Stock	$51.48	A	69.93	Acquired		Common Stock (69.93)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2800	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$40.35	2016-05-01	Common Stock (2500.0)	2500	Direct
Stock Option	$54.17	2017-04-27	Common Stock (2500.0)	2500	Direct
Stock Option	$50.15	2018-04-25	Common Stock (2500.0)	2500	Direct
Stock Option	$38.76	2020-05-07	Common Stock (2500.0)	2500	Direct
Stock Option	$41.82	2021-05-13	Common Stock (2500.0)	2500	Direct
Stock Option	$39.29	2022-05-04	Common Stock (2500.0)	2500	Direct
Stock Option	$44.42	2023-05-10	Common Stock (2500.0)	2500	Direct
Stock Option	$47.03	2024-05-09	Common Shares (2500.0)	2500	Direct
Stock Option	$51.07	2025-05-08	Common Shares (2500.0)	2500	Direct

Footnotes

F1: Pursuant to the issuer's Deferred Compensation Plan under its 2004 Stock Plan and the Deferred Fee Agreement executed by the reporting person, the reporting person has elected to defer receipt of his director's fees, and receive phantom stock, the amount of which is calculated as the quotient of the dollar value of fees deferred, divided by the fair market value of the issuer's shares on the date the phantom stock is received.

F2: 1 for 1

F3: The conversion of phantom stock into shares of the issuer's common stock is governed pursuant to terms of the issuer's Deferred Compensation Plan under its 2004 Stock Plan, as amended, and the reporting person's Deferred Fee Agreement.