Saul B Francis II - May 9, 2023 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
Chairman & CEO, Director, 10%+ Owner
Signature
/s/ Carlos L. Heard, by Power of Attorney
Stock symbol
BFS
Transactions as of
May 9, 2023
Transactions value $
$333,851
Form type
4
Date filed
5/11/2023, 04:57 PM
Previous filing
Apr 4, 2023
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Purchase $171K +5.15K +4.54% $33.29 118K May 9, 2023 Direct F18
transaction BFS Common Stock Purchase $163K +4.86K +4.1% $33.49 123K May 10, 2023 Direct
holding BFS Common Stock 4.07K May 9, 2023 See footnote F1
holding BFS Common Stock 3K May 9, 2023 See footnote F2
holding BFS Common Stock 35.1K May 9, 2023 See footnote F3
holding BFS Common Stock 404K May 9, 2023 See footnote F4
holding BFS Common Stock 534K May 9, 2023 See footnote F5
holding BFS Common Stock 2.77K May 9, 2023 See footnote F6
holding BFS Common Stock 146K May 9, 2023 See footnote F7
holding BFS Common Stock 8.32K May 9, 2023 See footnote F8
holding BFS Common Stock 400K May 9, 2023 See footnote F9
holding BFS Common Stock 358K May 9, 2023 See footnote F10
holding BFS Common Stock 8.44M May 9, 2023 See footnote F11
holding BFS Common Stock 5.77K May 9, 2023 401K F12, F13
holding BFS Common Stock 127K May 9, 2023 401K F14, F15
holding BFS Common Stock 149K May 9, 2023 See footnote F16, F17

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
holding BFS Phantom Stock 42.5K May 9, 2023 Common Stock 42.5K Direct F19, F20
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $51.07 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $57.74 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $59.41 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $49.46 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $55.71 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $50.00 Direct
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 2.5K $43.89 Direct
holding BFS Units 8.83M May 9, 2023 Units 8.83M Direct F21
holding BFS Director Stock Option 2.5K May 9, 2023 Common Stock 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 These securities are held directly by The Sharon Elizabeth Saul Trust (the "SES Trust"). B Francis Saul II is the trustee of the SES Trust and, as such, he may be deemed to beneficially own the securities held by the SES Trust.
F2 These securities are held directly by The Andrew M. Saul Trust (the "AMS Trust"). B Francis Saul II is the trustee of the AMS Trust and, as such, he may be deemed to beneficially own the securities held by the AMS Trust.
F3 These securities are held directly by Van Ness Square Corporation ("Van Ness"). B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Van Ness and, as such, he may be deemed to beneficially own the securities held by Van Ness.
F4 These securities are held directly by Westminster Investing L.L.C. ("Westminster"). B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Westminster and, as such, he may be deemed to beneficially own the securities held by Westminster.
F5 These securities are held directly by Dearborn, L.L.C. ("Dearborn"). B. F. Saul Real Estate Investment Trust ("Saul Trust") is the sole member of Dearborn and, as such, it may be deemed to beneficially own the securities held by Dearborn. Saul Company is the controlling equity holder of Saul Trust and, as such, it may be deemed to beneficially own the securities held by Saul Trust. B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Saul Company and, as such, he may be deemed to beneficially own the securities held by Saul Company.
F6 These securities are held directly by Avenel Executive Park Phase II, L.L.C. ("Avenel"). Saul Trust is the sole member of Avenel and, as such, it may be deemed to beneficially own the securities held by Avenel. Saul Company is the controlling equity holder of Saul Trust and, as such, it may be deemed to beneficially own the securities held by Saul Trust. B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Saul Company and, as such, he may be deemed to beneficially own the securities held by Saul Company.
F7 These securities are held directly by SHLP Unit Acquisition Corp. ("SHLP"). Saul Trust is the sole shareholder of SHLP and, as such, it may be deemed to beneficially own the securities held by SHLP. Saul Company is the controlling equity holder of Saul Trust and, as such, it may be deemed to beneficially own the securities held by Saul Trust. B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Saul Company and, as such, he may be deemed to beneficially own the securities held by Saul Company.
F8 These securities are held directly by The Patricia English Saul Trust (the "PES Trust"). B Francis Saul II is the trustee of the PES Trust and, as such, he may be deemed to beneficially own the securities held by the PES Trust.
F9 These securities are held directly by B.F. Saul Property Company ("Saul Property"). B.F. Saul Company ("Saul Company") is the sole equity holder of Saul Property and, as such, it may be deemed to beneficially own the securities held by Saul Property. B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of Saul Company and, as such, he may be deemed to beneficially own the securities held by Saul Company.
F10 These securities are held directly by the B.F. Saul Company. B. Francis Saul II is the Chairman of the Board and the Chief Executive Officer of the B.F. Saul Company and, as such, he may be deemed to beneficially own the securities held by the B.F. Saul Company.
F11 These securities are held directly by the Saul Trust. B. Francis Saul II is the Chairman of the Board and the majority equityholder and, as such, he may be deemed to beneficially own the securities held by the Saul Trust.
F12 Balance increased by April 28, 2023 Dividend Reinvestment Plan award of 60.00 shares.
F13 These securities are held directly by a 401(k) plan of which Patricia E. Saul is a beneficiary. B. Francis Saul II is the spouse of Patricia E. Saul and, as such, he may be deemed to beneficially own the securities held by Patricia E. Saul.
F14 Balance increased by April 28, 2023 Dividend Reinvestment Plan award of 1,316.00 shares.
F15 These securities are held directly by a 401(k) plan of which B. Francis Saul II is a beneficiary.
F16 Balance increased by April 28, 2023 Dividend Reinvestment Plan award of 2,470.233 shares.
F17 These securities are held directly by Patricia E. Saul. B. Francis Saul II is the spouse of Patricia E. Saul and, as such, he may be deemed to beneficially own the securities held by Patricia E. Saul.
F18 Balance increased by April 28, 2023 Dividend Reinvestment Plan award of 1,714.932 shares.
F19 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.
F20 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.
F21 Represents units of limited partnership interest in Saul Holdings Limited Partnership ("SHLP"), of which the Issuer is the general partner. In general, the units are convertible into shares of the Issuer's common stock on a one-for-one basis provided that, in accordance with the Articles of Incorporation of the Issuer, the right to convert 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 beneficially owns, directly or indirectly, in the aggregate more than 39.9% of the value of the Issuer's outstanding common stock and preferred stock.