SAUL CENTERS INC. |
Common Stock, $.01 par value per share |
804395 10 1 |
Dan Goldstein 7501 Wisconsin Avenue, Suite 1500 Bethesda, Maryland 20814 (301) 986-6099 |
Not Applicable – Voluntary Filing |
* | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
1. | NAMES OF REPORTING PERSONS B. Francis Saul II | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS SC, OO | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION United States of America | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER (See Item 5) 253,020 | ||||
8. | SHARED VOTING POWER (See Item 5) 17,813,916 (1) | |||||
9. | SOLE DISPOSITIVE POWER (See Item 5) 253,020 | |||||
10. | SHARED DISPOSITIVE POWER (See Item 5) 17,813,916 (1) | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,066,937 (1) | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 56.7 % (2) | |||||
14. | TYPE OF REPORTING PERSON IN |
(1) | Includes 7,886,916 units of limited partnership interest (“Units”) in Saul Holdings Limited Partnership (“SHLP”) convertible into 7,886,916 shares of the Common Stock, par value $.01 per share (the “Common Stock”) of Saul Centers, Inc. (“Saul Centers”) that are exercisable within 60 days of the date hereof. In general, the Units are convertible into shares of Common Stock on a one-for-one basis provided that, in accordance with the Articles of Incorporation of Saul Centers, the rights may not be exercised at any time that the B. Francis Saul II, family members of B. Francis Saul II, entities controlled by B. Francis Saul II and other affiliates of B. Francis Saul II (collectively, the “Saul Organization”) beneficially owns, directly or indirectly, in the aggregate more than 39.9% of the value of the Company’s outstanding Common Stock and Preferred Stock (the “Ownership Limit”). The Units are directly held by each of B. F. Saul Property Company (formerly Franklin Property Company) (“Saul Property”), B. F. Saul Real Estate Investment Trust (the “Saul Trust”), Avenel Executive Park Phase II, L.L.C. (“Avenel”), Dearborn, L.L.C. (“Dearborn”) and SHLP Unit Acquisition Corp. (“SHLP Unit Acquisition”). |
(2) | Based on 23,116,832 shares of Common Stock of Saul Centers and 7,886,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
1. | NAMES OF REPORTING PERSONS B.F. Saul Company | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS SC, OO | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION District of Columbia | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER (See Item 5) 320,514 | ||||
8. | SHARED VOTING POWER (See Item 5) 16,366,931 (1) | |||||
9. | SOLE DISPOSITIVE POWER (See Item 5) 320,514 | |||||
10. | SHARED DISPOSITIVE POWER (See Item 5) 16,366,931 (1) | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 16,366,931 (1) | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 51.3% (2) | |||||
14. | TYPE OF REPORTING PERSON CO |
(1) | Includes 6,995,305 Units convertible into 6,995,305 shares of Common Stock of Saul Centers that are exercisable within 60 days of the date hereof. The Units are directly held by each of Saul Property, Saul Trust, Avenel, Dearborn and SHLP Unit Acquisition. |
(2) | Based on 23,116,832 shares of Common Stock of Saul Centers and 7,886,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
1. | NAMES OF REPORTING PERSONS B.F. Saul Real Estate Investment Trust | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS SC, WC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION Maryland | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER (See Item 5) 11,203,663 (1) | ||||
8. | SHARED VOTING POWER (See Item 5) 15,360,103 (2) | |||||
9. | SOLE DISPOSITIVE POWER (See Item 5) 11,203,663 (1) | |||||
10. | SHARED DISPOSITIVE POWER (See Item 5) 15,360,103 (2) | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,360,103 (1)(2) | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 48.2% (3) | |||||
14. | TYPE OF REPORTING PERSON OO |
(1) | Includes 6,671,018 Units convertible into 6,671,018 shares of Common Stock of Saul Centers that are exercisable within 60 days of the date hereof. The Units are directly held by each of Saul Trust, Avenel, Dearborn and SHLP Unit Acquisition |
(2) | Based on 23,116,832 shares of Common Stock of Saul Centers and 7,816,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
1. | NAMES OF REPORTING PERSONS Dearborn, L.L.C. | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS SC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER (See Item 5) 2,458,144 (1) | ||||
8. | SHARED VOTING POWER (See Item 5) 0 | |||||
9. | SOLE DISPOSITIVE POWER (See Item 5) 2,458,144 (1) | |||||
10. | SHARED DISPOSITIVE POWER (See Item 5) 0 | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,458,144 (1) | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.7% (2) | |||||
14. | TYPE OF REPORTING PERSON OO |
(1) | Includes 1,924,388 Units convertible into 1,924,388 shares of Common Stock of Saul Centers that are exercisable within 60 days of the date hereof. |
(2) | Based on 23,116,832 shares of Common Stock of Saul Centers and 7,886,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
1. | NAMES OF REPORTING PERSONS SHLP Unit Acquisition Corp. | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS SC, WC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION Maryland | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER (See Item 5) 1,684,223 (1) | ||||
8. | SHARED VOTING POWER (See Item 5) 0 | |||||
9. | SOLE DISPOSITIVE POWER (See Item 5) 1,684,223(1) | |||||
10. | SHARED DISPOSITIVE POWER (See Item 5) 0 | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,684,223(1) | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.3% (2) | |||||
14. | TYPE OF REPORTING PERSON CO |
(1) | Includes 1,538,005 Units convertible into 1,538,005 shares of Common Stock of Saul Centers that are exercisable within 60 days of the date hereof. |
(2) | Based on 23,116,832 shares of Common Stock of Saul Centers and 7,886,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
ITEM 1. | Security and Issuer. |
ITEM 2. | Identity and Background. |
(1) | B. F. Saul Property Company (formerly Franklin Property Company) (“Saul Property”), a Maryland corporation, with respect to the Common Stock directly and beneficially owned by it; |
(2) | Westminster Investing LLC (“Westminster Investing”), a New York limited liability company, with respect to the Common Stock directly and beneficially owned by it; |
(3) | Van Ness Square Corporation (“Van Ness”), a Maryland corporation, with respect to the Common Stock directly and beneficially owned by it; |
(4) | Avenel Executive Park Phase II, L.L.C. (“Avenel”), a Maryland limited liability company, with respect to the Common Stock directly and beneficially owned by it; |
(5) | Dearborn, L.L.C. (“Dearborn”), a Delaware limited liability company, with respect to the Common Stock directly and beneficially owned by it; |
(6) | SHLP Unit Acquisition Corp. (“SHLP Unit Acquisition”), a Maryland corporation, with respect to the Common Stock directly and beneficially owned by it; |
(7) | B. F. Saul Real Estate Investment Trust (the “Saul Trust”), a Maryland real estate investment trust, as the sole member of Avenel and Dearborn and the sole shareholder of SHLP Unit Acquisition, and with respect to the Common Stock directly and beneficially owned by it; |
(8) | B. F. Saul Company (the “Saul Company”), a District of Columbia corporation, as the sole equityholder of Saul Property and the controlling equityholder of the Saul Trust with respect to the Common Stock directly and beneficially owned by it; |
(9) | Sharon Elizabeth Saul Trust, a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(10) | Elizabeth Willoughby Saul Trust, a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(11) | Andrew M. Saul Trust, a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(12) | Patricia English Saul Trust, a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(13) | FBO Francis Saul III & Andrew M. Saul II u/a w/B. Francis Saul II (the “Saul Family Trust”), a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(14) | Trust FBO Andrew M. Saul II (the “A.M.S. Trust”), a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(15) | Trust FBO Patricia English Saul (the “P.E.S. Trust”), a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(16) | Trust FBO Sharon Elizabeth Saul (the “S.E.S. Trust”), a Maryland trust, with respect to the Common Stock directly and beneficially owned by it; |
(17) | Patricia E. Saul, a citizen of the United States of America, with respect to the Common Stock directly and beneficially owned by her; and |
(18) | B. Francis Saul II, a citizen of the United States of America, as the Chairman of the Board, a Director and Chief Executive Officer of the Saul Company, the Saul Trust, Westminster Investing and Van Ness, as the Trustee of the Trusts, and with respect to the Common Stock directly and beneficially owned by him. |
(a) | The address of the principal office of each of the Saul Entities and the Trusts is 7501 Wisconsin Avenue, Bethesda, Maryland 20814. |
(b) | The principal business of the Saul Company is the development, ownership and management of real estate, directly or indirectly through subsidiary entities. |
(c) | The principal business of the Saul Trust is the development, ownership and management of real estate, directly or indirectly through subsidiary entities. |
(d) | The principal business of Saul Property is real estate management. |
(e) | The principal business of Westminster Investing is investing in the equity interests of affiliated entities. |
(f) | The principal business of Van Ness is investing in the equity interests of affiliated entities. |
(g) | The principal business of Avenel is investing in the equity interests of affiliated entities. |
(h) | The principal business of Dearborn, L.L.C. is the ownership and development of real estate and investing in the equity interests of affiliated entities. |
(i) | The principal business of SHLP Unit Acquisition is investing in the equity interests of affiliated entities. |
(j) | The principal business of the Trusts is to hold investments for one or more family members of B. Francis Saul II. |
(k) | The principal occupation of Patricia E. Saul is housewife. |
(l) | The principal occupation of B. Francis Saul II is serving as Chairman of the Board, a Director and Chief Executive Officer of Saul Centers, the Saul Company, and the Saul Trust and as Trustee of the Trusts. |
ITEM 3. | Source and Amount of Funds or Other Consideration. |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 7,758 | $ | 34.44 | 225 | ||||||
April 30, 2012 | $ | 7,894 | $ | 38.93 | 203 | ||||||
July 31, 2012 | $ | 8,028 | $ | 40.43 | 199 | ||||||
October 31, 2012 | $ | 8,150 | $ | 42.23 | 193 | ||||||
January 31, 2013 | $ | 8,270 | $ | 41.67 | 198 | ||||||
April 30, 2013 | $ | 8,412 | $ | 42.85 | 196 | ||||||
July 31, 2013 | $ | 8,533 | $ | 45.21 | 189 | ||||||
October 31, 2013 | $ | 8,657 | $ | 46.27 | 187 | ||||||
January 31, 2014 | $ | 8,771 | $ | 45.15 | 194 | ||||||
April 30, 2014 | $ | 9,875 | $ | 44.14 | 224 | ||||||
July 31, 2014 | $ | 10,025 | $ | 46.79 | 214 | ||||||
October 31, 2014 | $ | 10,164 | $ | 52.71 | 193 | ||||||
January 30, 2015 | $ | 10,285 | $ | 56.74 | 181 | ||||||
April 30, 2015 | $ | 11,181 | $ | 50.21 | 223 | ||||||
July 31, 2015 | $ | 11,340 | $ | 50.30 | 225 | ||||||
October 30, 2015 | $ | 11,489 | $ | 55.73 | 206 | ||||||
January 29, 2016 | $ | 11,631 | $ | 47.76 | 244 | ||||||
April 29, 2016 | $ | 12,878 | $ | 51.59 | 250 | ||||||
July 29, 2016 | $ | 13,052 | $ | 65.64 | 199 | ||||||
October 28, 2016 | $ | 13,191 | $ | 57.18 | 231 | ||||||
January 31, 2017 | $ | 14,479 | $ | 61.85 | 234 | ||||||
April 28, 2017 | $ | 14,650 | $ | 59.67 | 246 | ||||||
July 31, 2017 | $ | 14,839 | $ | 57.40 | 259 | ||||||
October 31, 2017 | $ | 15,021 | $ | 59.33 | 253 | ||||||
January 31, 2018 | $ | 15,499 | $ | 52.71 | 294 | ||||||
April 30, 2018 | $ | 15,717 | $ | 47.54 | 331 | ||||||
July 31, 2018 | $ | 15,960 | $ | 51.68 | 309 | ||||||
October 31, 2018 | $ | 16,180 | $ | 49.34 | 328 | ||||||
January 31, 2019 | $ | 16,737 | $ | 51.28 | 326 | ||||||
April 30, 2019 | $ | 16,973 | $ | 51.38 | 330 | ||||||
July 31, 2019 | $ | 17,219 | $ | 53.66 | 321 | ||||||
October 31, 2019 | $ | 17,462 | $ | 52.84 | 330 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 2,983,993 | $ | 34.44 | 86,644 | ||||||
April 30, 2012 | $ | 3,139,555 | $ | 38.93 | 80,654 | ||||||
July 31, 2012 | $ | 3,273,191 | $ | 40.43 | 80,960 | ||||||
October 31, 2012 | $ | 3,351,462 | $ | 42.23 | 79,364 | ||||||
January 31, 2013 | $ | 3,380,033 | $ | 41.67 | 81,122 | ||||||
April 30, 2013 | $ | 3,409,237 | $ | 42.85 | 79,563 | ||||||
July 31, 2013 | $ | 3,437,879 | $ | 45.21 | 76,048 | ||||||
October 31, 2013 | $ | 3,465,213 | $ | 46.92 | 73,850 | ||||||
January 31, 2014 | $ | 3,491,776 | $ | 45.79 | 76,257 | ||||||
April 30, 2014 | $ | 3,910,252 | $ | 44.76 | 87,352 | ||||||
July 31, 2014 | $ | 1,040,000 | $ | 46.79 | 22,228 | ||||||
October 31, 2014 | $ | 1,040,000 | $ | 52.71 | 19,729 | ||||||
January 30, 2015 | $ | 2,251,509 | $ | 56.74 | 39,681 | ||||||
April 30, 2015 | $ | 2,428,626 | $ | 50.21 | 48,372 | ||||||
July 31, 2015 | $ | 2,197,957 | $ | 50.30 | 43,693 | ||||||
October 30, 2015 | $ | 2,208,157 | $ | 55.73 | 39,621 | ||||||
January 29, 2016 | $ | 2,217,435 | $ | 49.24 | 45,036 | ||||||
April 29, 2016 | $ | 2,435,267 | $ | 51.59 | 47,200 | ||||||
July 29, 2016 | $ | 2,447,387 | $ | 65.64 | 37,285 | ||||||
October 28, 2016 | $ | 2,457,060 | $ | 57.18 | 42,969 | ||||||
January 31, 2017 | $ | 2,678,289 | $ | 61.85 | 43,305 | ||||||
April 28, 2017 | $ | 2,690,511 | $ | 59.67 | 45,087 | ||||||
July 31, 2017 | $ | 2,983,500 | $ | 57.40 | 51,978 | ||||||
October 31, 2017 | $ | 2,983,500 | $ | 59.33 | 50,287 | ||||||
January 31, 2018 | $ | 3,025,733 | $ | 52.71 | 57,398 | ||||||
April 30, 2018 | $ | 3,037,750 | $ | 47.54 | 63,893 | ||||||
July 31, 2018 | $ | 5,634,853 | $ | 52.16 | 108,032 | ||||||
October 31, 2018 | $ | 5,691,034 | $ | 49.79 | 114,305 | ||||||
January 31, 2019 | $ | 3,164,617 | $ | 51.28 | 61,714 | ||||||
April 30, 2019 | $ | 3,181,362 | $ | 51.38 | 61,917 | ||||||
July 31, 2019 | $ | 3,190,499 | $ | 53.66 | 59,463 | ||||||
October 31, 2019 | $ | 3,203,123 | $ | 52.84 | 60,618 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 192,591 | $ | 34.44 | 5,592 | ||||||
April 30, 2012 | $ | 194,605 | $ | 38.93 | 4,999 | ||||||
July 31, 2012 | $ | 196,404 | $ | 40.43 | 4,858 | ||||||
October 31, 2012 | $ | 198,153 | $ | 42.23 | 4,692 | ||||||
January 31, 2013 | $ | 199,842 | $ | 41.67 | 4,796 | ||||||
April 30, 2013 | $ | 201,569 | $ | 42.85 | 4,704 | ||||||
July 31, 2013 | $ | 203,263 | $ | 45.21 | 4,496 | ||||||
October 31, 2013 | $ | 204,805 | $ | 47.13 | 4,346 | ||||||
January 31, 2014 | $ | 206,416 | $ | 45.98 | 4,489 | ||||||
April 30, 2014 | $ | 231,126 | $ | 44.95 | 5,142 | ||||||
July 31, 2014 | $ | - | $ | - | - | ||||||
October 31, 2014 | $ | - | $ | - | - | ||||||
January 30, 2015 | $ | - | $ | - | - | ||||||
April 30, 2015 | $ | - | $ | - | - | ||||||
July 31, 2015 | $ | 250,706 | $ | 50.30 | 4,984 | ||||||
October 30, 2015 | $ | 252,834 | $ | 55.73 | 4,537 | ||||||
January 29, 2016 | $ | 254,792 | $ | 49.24 | 5,175 | ||||||
April 29, 2016 | $ | 280,954 | $ | 51.59 | 5,445 | ||||||
July 29, 2016 | $ | 283,486 | $ | 65.64 | 4,319 | ||||||
October 28, 2016 | $ | 285,530 | $ | 57.18 | 4,993 | ||||||
January 31, 2017 | $ | 312,300 | $ | 62.96 | 4,960 | ||||||
April 28, 2017 | $ | 314,891 | $ | 60.74 | 5,184 | ||||||
July 31, 2017 | $ | 317,506 | $ | 58.42 | 5,435 | ||||||
October 31, 2017 | $ | 320,284 | $ | 60.37 | 5,305 | ||||||
January 31, 2018 | $ | 329,368 | $ | 53.63 | 6,141 | ||||||
April 30, 2018 | $ | 332,515 | $ | 48.37 | 6,875 | ||||||
July 31, 2018 | $ | 336,115 | $ | 52.57 | 6,394 | ||||||
October 31, 2018 | $ | 339,426 | $ | 50.17 | 6,765 | ||||||
January 31, 2019 | $ | 349,530 | $ | 52.14 | 6,704 | ||||||
April 30, 2019 | $ | 353,091 | $ | 52.23 | 6,760 | ||||||
July 31, 2019 | $ | 356,662 | $ | 54.54 | 6,540 | ||||||
October 31, 2019 | $ | 360,159 | $ | 53.70 | 6,707 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 4,554 | $ | 34.44 | 132 | ||||||
April 30, 2012 | $ | 4,601 | $ | 38.93 | 118 | ||||||
July 31, 2012 | $ | 4,644 | $ | 40.43 | 115 | ||||||
October 31, 2012 | $ | 4,685 | $ | 42.23 | 111 | ||||||
January 31, 2013 | $ | 4,725 | $ | 41.67 | 113 | ||||||
April 30, 2013 | $ | 4,766 | $ | 42.85 | 111 | ||||||
July 31, 2013 | $ | 4,806 | $ | 45.21 | 106 | ||||||
October 31, 2013 | $ | 4,791 | $ | 46.52 | 103 | ||||||
January 31, 2014 | $ | 4,858 | $ | 45.40 | 107 | ||||||
April 30, 2014 | $ | 5,414 | $ | 44.38 | 122 | ||||||
July 31, 2014 | $ | - | $ | - | - | ||||||
October 31, 2014 | $ | - | $ | - | - | ||||||
January 30, 2015 | $ | - | $ | - | - | ||||||
April 30, 2015 | $ | - | $ | - | - | ||||||
July 31, 2015 | $ | - | $ | - | - | ||||||
October 30, 2015 | $ | - | $ | - | - | ||||||
January 29, 2016 | $ | - | $ | - | - | ||||||
April 29, 2016 | $ | - | $ | - | - | ||||||
July 29, 2016 | $ | - | $ | - | - | ||||||
October 28, 2016 | $ | - | $ | - | - | ||||||
January 31, 2017 | $ | - | $ | - | - | ||||||
April 28, 2017 | $ | - | $ | - | - | ||||||
July 31, 2017 | $ | - | $ | - | - | ||||||
October 31, 2017 | $ | - | $ | - | - | ||||||
January 31, 2018 | $ | - | $ | - | - | ||||||
April 30, 2018 | $ | - | $ | - | - | ||||||
July 31, 2018 | $ | 7,315 | $ | 52.99 | 138 | ||||||
October 31, 2018 | $ | 7,419 | $ | 50.58 | 147 | ||||||
January 31, 2019 | $ | - | $ | - | - | ||||||
April 30, 2019 | $ | - | $ | - | - | ||||||
July 31, 2019 | $ | - | $ | - | - | ||||||
October 31, 2019 | $ | - | $ | - | - |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 827,989 | $ | 34.44 | 24,042 | ||||||
April 30, 2012 | $ | 784,694 | $ | 38.93 | 20,159 | ||||||
July 31, 2012 | $ | 791,952 | $ | 40.43 | 19,588 | ||||||
October 31, 2012 | $ | 799,003 | $ | 42.23 | 18,921 | ||||||
January 31, 2013 | $ | 805,815 | $ | 41.67 | 19,340 | ||||||
April 30, 2013 | $ | 812,777 | $ | 42.85 | 18,968 | ||||||
July 31, 2013 | $ | 819,606 | $ | 45.21 | 18,130 | ||||||
October 31, 2013 | $ | 826,129 | $ | 46.56 | 17,742 | ||||||
January 31, 2014 | $ | 832,483 | $ | 45.44 | 18,321 | ||||||
April 30, 2014 | $ | 932,316 | $ | 44.42 | 20,988 | ||||||
July 31, 2014 | $ | - | $ | - | - | ||||||
October 31, 2014 | $ | - | $ | - | - | ||||||
January 30, 2015 | $ | 88,458 | $ | 56.74 | 1,559 | ||||||
April 30, 2015 | $ | 86,808 | $ | 50.21 | 1,729 | ||||||
July 31, 2015 | $ | 317,520 | $ | 50.30 | 6,312 | ||||||
October 30, 2015 | $ | 307,302 | $ | 55.73 | 5,514 | ||||||
January 29, 2016 | $ | 298,033 | $ | 49.24 | 6,053 | ||||||
April 29, 2016 | $ | 314,209 | $ | 51.59 | 6,090 | ||||||
July 29, 2016 | $ | 302,009 | $ | 65.64 | 4,601 | ||||||
October 28, 2016 | $ | 292,369 | $ | 57.18 | 5,113 | ||||||
January 31, 2017 | $ | 305,154 | $ | 61.85 | 4,934 | ||||||
April 28, 2017 | $ | 292,942 | $ | 59.67 | 4,909 | ||||||
July 31, 2017 | $ | 280,111 | $ | 57.40 | 4,880 | ||||||
October 31, 2017 | $ | 280,097 | $ | 59.33 | 4,721 | ||||||
January 31, 2018 | $ | - | $ | - | - | ||||||
April 30, 2018 | $ | - | $ | - | - | ||||||
July 31, 2018 | $ | 1,283,226 | $ | 52.96 | 24,229 | ||||||
October 31, 2018 | $ | 1,295,815 | $ | 50.55 | 25,636 | ||||||
January 31, 2019 | $ | - | $ | - | - | ||||||
April 30, 2019 | $ | - | $ | - | - | ||||||
July 31, 2019 | $ | - | $ | - | - | ||||||
October 31, 2019 | $ | - | $ | - | - |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 88,294 | $ | 34.44 | 2,564 | ||||||
April 30, 2012 | $ | 89,217 | $ | 38.93 | 2,292 | ||||||
July 31, 2012 | $ | 90,042 | $ | 40.43 | 2,227 | ||||||
October 31, 2012 | $ | 90,844 | $ | 42.23 | 2,151 | ||||||
January 31, 2013 | $ | 91,619 | $ | 41.67 | 2,199 | ||||||
April 30, 2013 | $ | 92,410 | $ | 42.85 | 2,157 | ||||||
July 31, 2013 | $ | 93,187 | $ | 45.21 | 2,061 | ||||||
October 31, 2013 | $ | 93,929 | $ | 46.27 | 2,030 | ||||||
January 31, 2014 | $ | 94,660 | $ | 45.15 | 2,096 | ||||||
April 30, 2014 | $ | 106,016 | $ | 44.14 | 2,402 | ||||||
July 31, 2014 | $ | 106,976 | $ | 46.79 | 2,286 | ||||||
October 31, 2014 | $ | 107,891 | $ | 52.71 | 2,047 | ||||||
January 30, 2015 | $ | - | $ | - | - | ||||||
April 30, 2015 | $ | - | $ | - | - | ||||||
July 31, 2015 | $ | 116,863 | $ | 50.30 | 2,323 | ||||||
October 30, 2015 | $ | 117,862 | $ | 55.73 | 2,115 | ||||||
January 29, 2016 | $ | 118,771 | $ | 49.24 | 2,412 | ||||||
April 29, 2016 | $ | 130,953 | $ | 51.59 | 2,538 | ||||||
July 29, 2016 | $ | 132,146 | $ | 65.64 | 2,013 | ||||||
October 28, 2016 | $ | 133,093 | $ | 57.18 | 2,328 | ||||||
January 31, 2017 | $ | 145,607 | $ | 61.85 | 2,354 | ||||||
April 28, 2017 | $ | 146,807 | $ | 59.67 | 2,460 | ||||||
July 31, 2017 | $ | 148,062 | $ | 57.40 | 2,579 | ||||||
October 31, 2017 | $ | 149,378 | $ | 59.33 | 2,518 | ||||||
January 31, 2018 | $ | 153,616 | $ | 52.71 | 2,914 | ||||||
April 30, 2018 | $ | 155,131 | $ | 47.54 | 3,263 | ||||||
July 31, 2018 | $ | 156,828 | $ | 51.68 | 3,034 | ||||||
October 31, 2018 | $ | 158,406 | $ | 49.34 | 3,211 | ||||||
January 31, 2019 | $ | 163,154 | $ | 51.28 | 3,182 | ||||||
April 30, 2019 | $ | 164,840 | $ | 51.38 | 3,208 | ||||||
July 31, 2019 | $ | 166,540 | $ | 53.66 | 3,104 | ||||||
October 31, 2019 | $ | 168,185 | $ | 52.84 | 3,183 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | - | $ | - | - | ||||||
April 30, 2012 | $ | - | $ | - | - | ||||||
July 31, 2012 | $ | - | $ | - | - | ||||||
October 31, 2012 | $ | - | $ | - | - | ||||||
January 31, 2013 | $ | - | $ | - | - | ||||||
April 30, 2013 | $ | - | $ | - | - | ||||||
July 31, 2013 | $ | - | $ | - | - | ||||||
October 31, 2013 | $ | - | $ | - | - | ||||||
January 31, 2014 | $ | - | $ | - | - | ||||||
April 30, 2014 | $ | - | $ | - | - | ||||||
July 31, 2014 | $ | - | $ | - | - | ||||||
October 31, 2014 | $ | - | $ | - | - | ||||||
January 30, 2015 | $ | - | $ | - | - | ||||||
April 30, 2015 | $ | - | $ | - | - | ||||||
July 31, 2015 | $ | - | $ | - | - | ||||||
October 30, 2015 | $ | - | $ | - | - | ||||||
January 29, 2016 | $ | - | $ | - | - | ||||||
April 29, 2016 | $ | - | $ | - | - | ||||||
July 29, 2016 | $ | - | $ | - | - | ||||||
October 28, 2016 | $ | - | $ | - | - | ||||||
January 31, 2017 | $ | 328,277 | $ | 63.03 | 5,208 | ||||||
April 28, 2017 | $ | 330,923 | $ | 60.81 | 5,442 | ||||||
July 31, 2017 | $ | 333,699 | $ | 58.48 | 5,706 | ||||||
October 31, 2017 | $ | 336,645 | $ | 60.44 | 5,570 | ||||||
January 31, 2018 | $ | 346,149 | $ | 53.69 | 6,447 | ||||||
April 30, 2018 | $ | 349,474 | $ | 48.42 | 7,218 | ||||||
July 31, 2018 | $ | 353,253 | $ | 52.62 | 6,713 | ||||||
October 31, 2018 | $ | 356,703 | $ | 50.23 | 7,102 | ||||||
January 31, 2019 | $ | 367,320 | $ | 52.19 | 7,038 | ||||||
April 30, 2019 | $ | 371,069 | $ | 52.29 | 7,097 | ||||||
July 31, 2019 | $ | 374,818 | $ | 54.59 | 6,866 | ||||||
October 31, 2019 | $ | 378,416 | $ | 53.75 | 7,040 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 544,787 | $ | 34.44 | 15,819 | ||||||
April 30, 2012 | $ | 550,482 | $ | 38.93 | 14,142 | ||||||
July 31, 2012 | $ | 555,573 | $ | 40.43 | 13,742 | ||||||
October 31, 2012 | $ | 560,520 | $ | 42.23 | 13,273 | ||||||
January 31, 2013 | $ | 565,298 | $ | 41.67 | 13,567 | ||||||
April 30, 2013 | $ | 570,183 | $ | 42.85 | 13,307 | ||||||
July 31, 2013 | $ | 574,973 | $ | 45.21 | 12,719 | ||||||
October 31, 2013 | $ | 579,478 | $ | 46.37 | 12,498 | ||||||
January 31, 2014 | $ | 584,006 | $ | 45.25 | 12,907 | ||||||
April 30, 2014 | $ | 654,067 | $ | 44.24 | 14,786 | ||||||
July 31, 2014 | $ | - | $ | - | - | ||||||
October 31, 2014 | $ | - | $ | - | - | ||||||
January 30, 2015 | $ | - | $ | - | - | ||||||
April 30, 2015 | $ | - | $ | - | - | ||||||
July 31, 2015 | $ | - | $ | - | - | ||||||
October 30, 2015 | $ | - | $ | - | - | ||||||
January 29, 2016 | $ | - | $ | - | - | ||||||
April 29, 2016 | $ | - | $ | - | - | ||||||
July 29, 2016 | $ | - | $ | - | - | ||||||
October 28, 2016 | $ | - | $ | - | - | ||||||
January 31, 2017 | $ | - | $ | - | - | ||||||
April 28, 2017 | $ | - | $ | - | - | ||||||
July 31, 2017 | $ | - | $ | - | - | ||||||
October 31, 2017 | $ | - | $ | - | - | ||||||
January 31, 2018 | $ | - | $ | - | - | ||||||
April 30, 2018 | $ | - | $ | - | - | ||||||
July 31, 2018 | $ | 882,760 | $ | 53.17 | 16,601 | ||||||
October 31, 2018 | $ | 891,371 | $ | 50.75 | 17,565 | ||||||
January 31, 2019 | $ | - | $ | - | - | ||||||
April 30, 2019 | $ | - | $ | - | - | ||||||
July 31, 2019 | $ | - | $ | - | - | ||||||
October 31, 2019 | $ | - | $ | - | - |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 988 | $ | 34.44 | 29 | ||||||
April 30, 2012 | $ | 998 | $ | 38.93 | 26 | ||||||
July 31, 2012 | $ | 1,079 | $ | 40.43 | 27 | ||||||
October 31, 2012 | $ | 1,089 | $ | 42.23 | 25 | ||||||
January 31, 2013 | $ | 1,098 | $ | 41.67 | 26 | ||||||
April 30, 2013 | $ | 1,169 | $ | 45.21 | 26 | ||||||
July 31, 2013 | $ | 1,189 | $ | 45.21 | 26 | ||||||
October 31, 2013 | $ | 1,199 | $ | 46.27 | 26 | ||||||
January 31, 2014 | $ | 2,108 | $ | 45.15 | 47 | ||||||
April 30, 2014 | $ | 2,361 | $ | 44.14 | 53 | ||||||
July 31, 2014 | $ | 2,462 | $ | 46.79 | 53 | ||||||
October 31, 2014 | $ | 2,483 | $ | 52.71 | 47 | ||||||
January 30, 2015 | $ | 2,502 | $ | 56.74 | 44 | ||||||
April 30, 2015 | $ | 13,459 | $ | 50.21 | 268 | ||||||
July 31, 2015 | $ | 13,660 | $ | 50.30 | 272 | ||||||
October 30, 2015 | $ | 13,777 | $ | 55.73 | 247 | ||||||
January 29, 2016 | $ | 13,883 | $ | 49.24 | 282 | ||||||
April 29, 2016 | $ | 15,307 | $ | 51.59 | 297 | ||||||
July 29, 2016 | $ | 15,540 | $ | 65.64 | 237 | ||||||
October 28, 2016 | $ | 15,652 | $ | 57.18 | 274 | ||||||
January 31, 2017 | $ | 17,123 | $ | 61.85 | 277 | ||||||
April 28, 2017 | $ | 17,265 | $ | 59.67 | 289 | ||||||
July 31, 2017 | $ | 17,514 | $ | 57.40 | 305 | ||||||
October 31, 2017 | $ | 17,670 | $ | 59.33 | 298 | ||||||
January 31, 2018 | $ | 18,171 | $ | 52.71 | 345 | ||||||
April 30, 2018 | $ | 18,350 | $ | 47.54 | 386 | ||||||
July 31, 2018 | $ | 18,655 | $ | 51.68 | 361 | ||||||
October 31, 2018 | $ | 18,843 | $ | 49.34 | 382 | ||||||
January 31, 2019 | $ | 19,407 | $ | 51.28 | 378 | ||||||
April 30, 2019 | $ | 19,608 | $ | 51.38 | 382 | ||||||
July 31, 2019 | $ | 19,916 | $ | 53.66 | 371 | ||||||
October 31, 2019 | $ | 20,113 | $ | 52.84 | 381 |
Date of DRIP Reinvestment | Amount reinvested | Price per share | Number of shares purchased | ||||||||
January 31, 2012 | $ | 30,354 | $ | 34.44 | 881 | ||||||
April 30, 2012 | $ | 30,671 | $ | 38.93 | 788 | ||||||
July 31, 2012 | $ | 30,955 | $ | 40.43 | 766 | ||||||
October 31, 2012 | $ | 31,230 | $ | 42.23 | 740 | ||||||
January 31, 2013 | $ | 31,497 | $ | 41.67 | 756 | ||||||
April 30, 2013 | $ | 31,769 | $ | 42.85 | 741 | ||||||
July 31, 2013 | $ | 32,036 | $ | 45.21 | 709 | ||||||
October 31, 2013 | $ | 32,291 | $ | 46.27 | 698 | ||||||
January 31, 2014 | $ | 32,542 | $ | 45.15 | 721 | ||||||
April 30, 2014 | $ | 36,446 | $ | 44.14 | 826 | ||||||
July 31, 2014 | $ | 36,776 | $ | 46.79 | 786 | ||||||
October 31, 2014 | $ | 37,091 | $ | 52.71 | 704 | ||||||
January 30, 2015 | $ | 37,372 | $ | 56.74 | 659 | ||||||
April 30, 2015 | $ | 40,458 | $ | 50.21 | 806 | ||||||
July 31, 2015 | $ | 40,805 | $ | 50.30 | 811 | ||||||
October 30, 2015 | $ | 41,154 | $ | 55.73 | 738 | ||||||
January 29, 2016 | $ | 41,471 | $ | 49.24 | 842 | ||||||
April 29, 2016 | $ | 45,725 | $ | 51.59 | 886 | ||||||
July 29, 2016 | $ | 46,141 | $ | 65.64 | 703 | ||||||
October 28, 2016 | $ | 46,472 | $ | 57.18 | 813 | ||||||
January 31, 2017 | $ | 50,841 | $ | 61.85 | 822 | ||||||
April 28, 2017 | $ | 51,260 | $ | 59.67 | 859 | ||||||
July 31, 2017 | $ | 51,698 | $ | 57.40 | 901 | ||||||
October 31, 2017 | $ | 52,158 | $ | 59.33 | 879 | ||||||
January 31, 2018 | $ | 53,638 | $ | 52.71 | 1,018 | ||||||
April 30, 2018 | $ | 54,167 | $ | 47.54 | 1,139 | ||||||
July 31, 2018 | $ | 54,759 | $ | 51.68 | 1,059 | ||||||
October 31, 2018 | $ | 55,310 | $ | 49.34 | 1,121 | ||||||
January 31, 2019 | $ | 56,968 | $ | 51.28 | 1,111 | ||||||
April 30, 2019 | $ | 57,557 | $ | 51.38 | 1,120 | ||||||
July 31, 2019 | $ | 58,150 | $ | 53.66 | 1,084 | ||||||
October 31, 2019 | $ | 58,725 | $ | 52.84 | 1,111 |
ITEM 4. | Purpose of Transaction. |
ITEM 5. | Interest in Securities of the Issuer. |
a. | The number and percentage of Common Shares beneficially owned by the reporting persons are set forth in the following table: |
Reporting Person | Number of Shares Beneficially Owned | Percentage Of Class (%)* | ||||||
B. Francis Saul II | 18,066,937 | (1) | 56.7 | |||||
B. F. Saul Company | 16,366,931 | (2) | 51.3 | |||||
B. F. Saul Real Estate Investment Trust | 15,360,103 | (3) | 48.2 | |||||
Westminster Investing LLC | 721,226 | (4) | 2.3 | |||||
Avenel Executive Park Phase II, L.L.C. | 14,073 | (5) | 0.0 | |||||
Dearborn, L.L.C. | 2,458,144 | (6) | 7.7 | |||||
B. F. Saul Property Company | 686,314 | (7) | 2.2 | |||||
Van Ness Square Corporation | 609,173 | (8) | 1.9 | |||||
SHLP Unit Acquisition Corp. | 1,684,223 | (9) | 5.3 | |||||
Patricia E. Saul | 116,586 | (10) | 0.4 | |||||
FBO Francis Saul III & Andrew M.Saul II u/a w/B. Francis Saul II | 24,500 | (11) | 0.1 | |||||
Trust FBO Andrew M. Saul II | 6,121 | (12) | 0.0 | |||||
Trust FBO Patricia English Saul | 8,321 | (13) | 0.0 | |||||
Trust FBO Sharon Elizabeth Saul | 3,000 | (14) | 0.0 | |||||
Sharon Elizabeth Saul Trust | 4,072 | (15) | 0.0 | |||||
Elizabeth Willoughby Saul Trust | 8,321 | (16) | 0.0 | |||||
Andrew M. Saul Trust | 3,000 | (17) | 0.0 | |||||
Patricia English Saul Trust | 8,321 | (18) | 0.0 | |||||
* Holdings are as of November 26, 2019 ** Based on the 23,116,832 shares of Common Stock of Saul Centers and 7,886,916 Units reported in Saul Centers Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission on November 7, 2019, without giving effect to the Ownership Limit. |
(1) | Includes all of the shares of Common Stock beneficially owned by the Saul Entities, the Trusts, B. Francis Saul II and Mrs. Patricia E. Saul. B. Francis Saul II owns 38,330 shares of Common Stock directly and owns options to purchase 12,500 shares of Common Stock that are exercisable within 60 days, as well as 33,278 shares of phantom stock pursuant to the Directors Plan, which may be exchanged for shares of Common Stock under certain circumstances. In addition, units equivalent to 102,956 shares of Common Stock are held in the individual 401(k) account of B. Francis Saul II. Pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended, the shares of Common Stock described above are considered to be beneficially owned by Mr. Saul because he has or may be deemed to have sole or shared voting and/or investment power in respect thereof. Mr. Saul disclaims beneficial ownership of 65,956 shares held by the Trusts, 111,913 shares held by Mrs. Patricia E. Saul and Units equivalent to 4,673 shares of Common Stock held in the individual 401(k) account Mrs. Patricia E. Saul, except to the extent of his pecuniary interest therein. |
(2) | Includes all of the shares of Common Stock beneficially owned by Saul Property, the Saul Trust, Avenel, Dearborn and SHLP Unit Acquisition. Saul Company owns 320,514 shares of Common Stock directly. Pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended, the shares of Common Stock described above are considered to be beneficially owned by the Saul Company because it has or may be deemed to have sole or shared voting and/or investment power in respect thereof. |
(3) | Includes all of the shares of Common Stock beneficially owned by Avenel, Dearborn and SHLP Unit Acquisition. The Saul Trust owns 8,006,337 shares of Common Stock directly and holds Units convertible into 3,197,326 shares of Common Stock that are exercisable within 60 days. Pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended, the shares of Common Stock described above are considered to be beneficially owned by the Saul Trust because it has or may be deemed to have sole or shared voting and/or investment power in respect thereof. |
(4) | Westminster Investing owns 403,726 shares of Common Stock directly and holds Units convertible into 317,500 shares of Common Stock that are exercisable within 60 days. |
(5) | Avenel owns 2,774 shares of Common Stock directly and holds Units convertible into 11,299 shares of Common Stock that are exercisable within 60 days. |
(6) | Dearborn owns 533,756 shares of Common Stock directly and holds Units convertible into 1,924,388 shares of Common Stock that are exercisable within 60 days. |
(7) | Saul Property owns 362,027 shares of Common Stock directly and holds Units convertible into 324,287 shares of Common Stock that are exercisable within 60 days. |
(8) | Van Ness owns 35,062 shares of Common Stock directly and holds Units convertible into 574,111 shares of Common Stock that are exercisable within 60 days. |
(9) | SHLP Unit Acquisition owns 146,218 shares of Common Stock directly and holds 1,538,005 Units, which are convertible into shares of Common Stock within 60 days. |
(10) | Patricia E. Saul owns 116,586 shares of Common Stock directly. |
(11) | The Saul Family Trust owns 24,500 shares of Common Stock directly. |
(12) | The A.M.S Saul Trust owns 3,000 shares of Common Stock directly. |
(13) | The P.E.S Trust owns 8,321 shares of Common Stock directly. |
(14) | The S.E.S Trust owns 4,072 shares of Common Stock directly. |
(15) | The Sharon Elizabeth Saul Trust owns 3,000 shares of Common Stock directly. |
(16) | The Elizabeth Willoughby Saul Trust owns 8,621 shares of Common Stock directly. |
(17) | The Andrew M. Saul Trust owns 6,121 shares of Common Stock directly. |
(18) | The Patricia English Saul Trust owns 8,321 shares of Common Stock directly. |
ITEM 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. |
ITEM 7. | Material to be Filed as Exhibits. |
November 22, 2019 | By: | /s/ B. Francis Saul II | ||||
B. Francis Saul II | ||||||
B. F. SAUL COMPANY | ||||||
November 22, 2019 | By: | /s/ B. Francis Saul II | ||||
B. Francis Saul II, Chairman and Chief Executive Officer | ||||||
November 22, 2019 | DEARBORN, L.L.C. | |||||
By: | B.F. SAUL REAL ESTATE INVESTMENT TRUST, its sole member | |||||
November 22, 2019 | By: | /s/ B. Francis Saul II | ||||
B. Francis Saul II, Chairman and Chief Executive Officer | ||||||
B. F. SAUL REAL ESTATE INVESTMENT TRUST | ||||||
November 22, 2019 | By: | /s/ B. Francis Saul II | ||||
B. Francis Saul II, Chairman and Chief Executive Officer | ||||||
SHLP UNIT ACQUISITION CORP. | ||||||
November 22, 2019 | By: | /s/ B. Francis Saul II | ||||
B. Francis Saul II, Chairman and Chief Executive Officer |