James Page Lansdale - 02 Dec 2021 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role: Director
Signature: Carlos L. Heard, by Power of Attorney
Issuer symbol: BFS
Transactions as of: 02 Dec 2021
Net transactions value: -$101,967
Form type: 4
Filing time: 02 Dec 2021, 15:09:41 UTC
Previous filing: 02 Dec 2021
Next filing: 08 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFS	Common Shares	Options Exercise	$88,707	+1,997	+31%	$44.42	8,397	02 Dec 2021	Direct
transaction	BFS	Common Shares	Sale	$101,967	-1,997	-24%	$51.06	6,400	02 Dec 2021	Direct

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	Options Exercise	$88,707	-1,997	-100%	$44.42	0	02 Dec 2021	Common Stock	1,997	$44.42	Direct	F1
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$47.03	Direct	F1
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$51.07	Direct	F1
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$57.74	Direct	F1
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$51.07	Direct	F2
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$57.74	Direct	F2
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$59.41	Direct	F2
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$59.41	Direct	F1
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$49.46	Direct	F1
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$49.46	Direct	F2
holding	BFS	Employee Stock Option						30,000	02 Dec 2021	Common Stock	30,000	$55.71	Direct	F1
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$55.71	Direct	F2
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$50.00	Direct	F2
holding	BFS	Director Stock Option						2,500	02 Dec 2021	Common Stock	2,500	$43.89	Direct

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

Explanation of Responses:

Id	Content
F1	The options vest 25% per year over four years from the date of grant.
F2	The options vest immediately on the date of grant.