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BFS > SEC Filings for BFS > Form 8-K on 23-Jul-2013All Recent SEC Filings

Show all filings for SAUL CENTERS INC



Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 23, 2013, General Paul X. Kelley resigned from the Board of Directors (the "Board") of Saul Centers, Inc. (the "Company"), and from the Board's Audit Committee, citing health reasons. General Kelley's resignation is not the result of any disagreement with the Company about its operations, policies or practices. Effective upon General Kelley's departure, the Board's overall size was reduced from 14 to 13 persons.

Prior to his resignation, General Kelley served as Chairman of the Audit Committee. On July 23, 2013, upon the unanimous recommendation of the Board's Nominating and Corporate Governance Committee, the Board elected George P. Clancy, Jr. (a current "independent director" as determined by the Board under the New York Stock Exchange's listing standards) to the Audit Committee and appointed him Chairman thereof.

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