SAUL CENTERS, INC. — Director's Dealing 2019

Apr 2, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS INC (BFS)
CIK: 0000907254
Period of Report: 2019-04-01

Reporting Person: Laycock Willoughby B. (Director, VP-Residential Development)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-04-01	Phantom Stock	$52.09	A	95.988	Acquired		Common Stock (95.988)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	45	Indirect
Common Shares	239.931	Indirect
Common Shares	389.89	Indirect
Common Shares	1000	Direct

Footnotes

F1: 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.