Carlos L. Heard - 07 May 2021 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BFS	Employee Stock Option	Award	$438,900	+10,000		$43.89	10,000	07 May 2021	Common Stock	10,000	$43.89	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The options vest 25% per year over four years from the date of grant.