SAUL CENTERS, INC. — Director's Dealing 2016

Feb 24, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2016-02-17

Reporting Person: Hachey Donald A (Senior Vice Pres.-Construction)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	901.73	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$44.42	2023-05-10	Common Shares (1875.0)		Direct
Employee Stock Option	$47.03	2024-05-09	Common Shares (5000.0)		Direct
Employee Stock Option	$51.07	2025-05-08	Common Shares (2570.0)		Direct
Employee Stock Option	$51.07	2025-05-08	Common Stock (2430.0)		Direct

Footnotes

F1: 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.

F2: The options vest 25% per year over four years from the date of grant.