Willoughby B. Laycock - Jul 8, 2022 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
SVP-Res. Marketing Initiatives, Director
Signature
/s/ Carlos L. Heard, by Power of Attorney
Stock symbol
BFS
Transactions as of
Jul 8, 2022
Transactions value $
$1,200
Form type
4
Date filed
7/12/2022, 05:23 PM
Previous filing
Jul 6, 2022
Next filing
Oct 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BFS Common Shares 286 Jul 8, 2022 Spouse-401K F1
holding BFS Common Shares 282 Jul 8, 2022 Spouse F2
holding BFS Common Shares 465 Jul 8, 2022 Self-Trust F3
holding BFS Common Shares 1.85K Jul 8, 2022 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 Phantom Stock Award $1.2K +24.9 +1.05% $48.10 2.41K Jul 8, 2022 Common Stock 24.9 Direct F4, F5, F6, F7
holding BFS Employee Stock Option 5K Jul 8, 2022 Common Stock 5K $55.71 Direct F8
holding BFS Director Stock Option 2.5K Jul 8, 2022 Common Stock 2.5K $55.71 Direct
holding BFS Employee Stock Option 10K Jul 8, 2022 Common Stock 10K $50.00 Direct F8
holding BFS Director Stock Option 2.5K Jul 8, 2022 Common Stock 2.5K $50.00 Direct
holding BFS Employee Stock Option 10K Jul 8, 2022 Common Stock 10K $43.89 Direct F8
holding BFS Director Stock Option 2.5K Jul 8, 2022 Common Stock 2.5K $43.89 Direct
holding BFS Employee Stock Option 10K Jul 8, 2022 Common Shares 10K $47.90 Direct F8
holding BFS Director Stock Option 2.5K Jul 8, 2022 Common Shares 2.5K $47.90 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares owned in the reporting person's spouse's 401K account. The reporting person disclaims beneficial ownership of these shares.
F2 Shares owned directly by the reporting person's spouse. The reporting person disclaims beneficial ownership of these shares.
F3 Shares held in a trust, of which the reporting person is the sole beneficiary.
F4 Phantom shares are issuable pursuant to the Issuer's Deferred Compensation Plan for Directors under its 2004 Stock Plan, as amended (the "Deferred Compensation Plan"). Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable, in cash or common stock, at the election of the reporting person, upon the reporting person's termination of service.
F5 On July 8, 2022, the Issuer granted 24.948 phantom shares ($48.10/share) to compensate the reporting person for phantom shares the Issuer should have awarded to the reporting person on April 1, 2022 pursuant to the Deferred Compensation Plan.
F6 The conversion of the phantom stock into shares of the Issuer's common stock is governed by the Deferred Compensation Plan and the reporting person's Deferred Fee Election Agreement.
F7 Includes 0.284 phantom shares ($50.0617/share) granted on July 8, 2022 to compensate the reporting person for a lost dividend reinvestment that would have been awarded on April 29, 2022 on phantom shares the Issuer should have awarded to the reporting person on April 1, 2022 pursuant to the Deferred Compensation Plan.
F8 The options vest 25% per year over four years from the date of grant.