SEC Form 4 · accession 0000907254-18-000085
SAUL CENTERS, INC. · BFS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
B Francis Saul II
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Oct 1, 2018
Accepted (ET)
Oct 2, 2018 · 3:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000907254
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF21 | Jul 16, 2018 | G | 750 | $53.50 | D | 36,236 | D | |
| Common SharesF1 | holding | — | — | — | 7,621 | I | See footnote | |
| Common SharesF2 | holding | — | — | — | 8,321 | I | See footnote | |
| Common SharesF3 | holding | — | — | — | 4,072 | I | See footnote | |
| Common SharesF4 | holding | — | — | — | 4,463 | I | 401K | |
| Common SharesF5 | holding | — | — | — | 98,338 | I | 401K | |
| Common SharesF6 | holding | — | — | — | 35,062 | I | See footnote | |
| Common SharesF7 | holding | — | — | — | 403,726 | I | See footnote | |
| Common SharesF8 | holding | — | — | — | 362,027 | I | See footnote | |
| Common SharesF9,F10 | holding | — | — | — | 508,120 | I | See footnote | |
| Common SharesF11,F12 | holding | — | — | — | 2,627 | I | See footnote | |
| Common SharesF13,F14 | holding | — | — | — | 128,653 | I | See footnote | |
| Common SharesF15,F16 | holding | — | — | — | 7,654,504 | I | See footnote | |
| Common SharesF17,F18 | holding | — | — | — | 106,366 | I | See footnote | |
| Common SharesF19,F20 | holding | — | — | — | 304,626 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF24,F22,F23 | $54.39 | Oct 1, 2018 | A | 114 | A | — | — | Common Stock | 114 | 31,115 | D |
| UnitsF25 | $53.76 | holding | — | — | — | — | — | Common Stock | 7,812,113 | 7,812,113 | I |
| Stock Option | $51.07 | holding | — | — | — | May 8, 2015 | May 8, 2025 | Common Stock | 2,500 | 2,500 | D |
| Stock Option | $57.74 | holding | — | — | — | May 6, 2016 | May 6, 2026 | Common Stock | 2,500 | 2,500 | D |
| Stock Option | $59.41 | holding | — | — | — | May 5, 2017 | May 5, 2027 | Common Stock | 2,500 | 2,500 | D |
| Stock Option | $49.46 | holding | — | — | — | May 11, 2018 | May 11, 2028 | Common Stock | 2,500 | 2,500 | D |
Explanation of responses
- F1Owned by the Elizabeth Willoughby Saul Trust, of which the reporting person is sole beneficiary. Ms. Saul is the daughter of the reporting person. The reporting person disclaims beneficial ownership of these shares.
- F10Owned by Dearborn, L.L.C., the sole member of which is B.F. Saul Real Estate Investment Trust, of which the reporting person is Chairman of the Board and the majority owner.
- F11Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 138.100 shares.
- F12Owned by Avenel Executive Park, PH II L.L.C., the sole member of which is B.F. Saul Real Estate Investment Trust, of which the reporting person is Chairman of the Board and the majority owner.
- F13Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 16,601.400 shares.
- F14Owned by Saul Holdings Limited Partnership Unit Acquisition Corporation, the sole member of which is B.F. Saul Real Estate Investment Trust, of which the reporting person is Chairman of the Board and the majority owner.
- F15Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 108,032.100 shares.
- F16Owned by B.F. Saul Real Estate Investment Trust, of which the reporting person is Chairman of the Board and the majority owner.
- F17Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 1,059.500 shares.
- F18Owned by Patricia E. Saul, the reporting person's spouse.
- F19Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 3,034.357 shares.
- F2Owned by the Patricia English Saul Trust, of which the reporting person is sole beneficiary. Ms. Saul is the daughter of the reporting person. The reporting person disclaims beneficial ownership of these shares.
- F20Owned by B.F. Saul Company, of which the reporting person is Chairman of the Board and Chief Executive Officer.
- F21Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 368.488 shares.
- F221 for 1
- F23The 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.
- F24Includes 308.802 shares ($51.6840/share) awarded July 31, 2018 as dividend reinvestments on shares of phantom stock held by the reporting person pursuant to the issuer's Deferred Compensation Plan under its 2004 Stock Plan and shares of phantom stock issued under the issuer's Deferred Compensation Stock Plan for Directors.
- F25Represents units of limited partnership interest of Saul Holdings Limited Partnership, of which the issuer is the general partner. Units are redeemable for an equal number of shares of the issuer's common stock. Subject to the restrictions on exercise discussed in the following sentence, units are exercisable at any time and have no expiration date. Units are only exercisable to the extent that such exercise would not cause the reporting person and certain affiliates to beneficially own collectively greater than 39.9% of the issuer's outstanding capital stock, as calculated pursuant to the issuer's Articles of Incorporation. As of July 2, 2018, 6,850,000 units are not convertible.
- F3Owned by The Sharon Elizabeth Saul Trust, of which the reporting person is sole beneficiary. Ms. Saul is the daughter of the reporting person. The reporting person disclaims beneficial ownership of these shares.
- F4Effective 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 Patricia E. Saul's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan.
- F5Effective 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.
- F6Owned by Van Ness Square Corporation, of which the reporting person is Chairman of the Board and Chief Executive Officer.
- F7Owned by Westminster Investing L.L.C., of which the reporting person is Chairman of the Board and Chief Executive Officer.
- F8Owned by B.F. Saul Property Company, which is a wholly-owned subsidiary of B.F. Saul Company, of which the reporting person is Chairman of the Board and Chief Executive Officer.
- F9Balance increased by July 31, 2018 Dividend Reinvestment Plan award of 24,229.500 shares.