SAUL CENTERS, INC. — Director's Dealing 2018

Sep 10, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2018-09-07

Reporting Person: Stencel Debra Noreen (Senior VP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-09-07	Common Shares	M	501	$47.03	Acquired	501	Direct
2018-09-07	Common Shares	S	501	$59.65	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-09-07	Employee Stock Option	$47.03	M	501	Disposed	2024-05-09	Common Shares (501.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$51.07	2025-05-08	Common Shares (5000.0)	5000	Direct
Employee Stock Option	$57.74	2026-05-06	Common Stock (5000.0)	5000	Direct
Employee Stock Option	$59.41	2027-05-05	Common Stock (5000.0)	5000	Direct
Employee Stock Option	$49.46	2028-05-11	Common Stock (5000.0)	5000	Direct

Footnotes

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