SAUL CENTERS, INC. — Director's Dealing 2018

Jan 24, 2018

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2017-12-31

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

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	582.87	Indirect
Common Shares	569.24	Indirect
Common Shares	8936.42	Indirect
Series C Preferred Stock	4500	Direct
Common Shares	9398.34	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$44.42	2023-05-10	Common Stock (12000.0)	12000	Direct
Employee Stock Option	$47.03	2024-05-09	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$51.07	2025-05-08	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$57.74	2026-05-06	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$59.41	2027-05-05	Common Stock (20000.0)	20000	Direct

Footnotes

F1: Balance increased by July 31, 2017 Dividend Reinvestment Plan award and October 31, 2017 award of 5.089 shares and 4.968 shares, respectively.

F2: Balance increased by July 31, 2017 Dividend Reinvestment Plan award and October 31, 2017 award of 4.970 shares and 4.851 shares, respectively.

F3: 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.

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