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SAUL CENTERS, INC. Director's Dealing 2015

May 12, 2015

32170_dirs_2015-05-12_cec646e4-318a-44bc-a620-a9793a3eeb5d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2015-05-08

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

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2015-05-08 Employee Stock Option $51.07 A 20000 Acquired 2025-05-08 Common Shares (20000.0) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Shares 502.22 Indirect
Common Shares 502.22 Indirect
Common Shares 536.23 Indirect
Common Shares 523.69 Indirect
Series C Preferred Stock 3000 Direct
Common Shares 8247.94 Indirect
Common Shares 8398.30 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Employee Stock Option $54.17 2017-04-27 Common Stock (9100.0) 9100 Direct
Employee Stock Option $54.17 2017-04-27 Common Stock (9100.0) 9100 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
Employee Stock Option $47.03 2024-05-09 Common Shares (20000.0) 20000 Direct

Footnotes

F1: Balance increased by January 31, 2015 Dividend Reinvestment Plan award and April 30, 2015 award of 3.486 shares and 4.265 shares, respectively.

F2: Balance increased by January 31, 2015 Dividend Reinvestment Plan award and April 30, 2015 award of 3.722 shares and 4.554 shares, respectively.

F3: Balance increased by January 31, 2015 Dividend Reinvestment Plan award and April 30, 2015 award of 3.635 shares and 4.447 shares, respectively.

F4: Effective April 1, 2009, shares formerly held by the B.F. Saul Company Employees' Profit Sharing Reinvestment Trust were distributed to the individual 401(k) plan accounts of participants. The number of shares reported represents the reporting person's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan.

F5: The options vest 25% per year over four years from the date of grant.