Saul B Francis II - Aug 8, 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
Aug 8, 2023
Transactions value $
$241,623
Form type
4
Date filed
8/10/2023, 04:16 PM
Previous filing
Jul 5, 2023
Next filing
Aug 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Purchase $157K +4.18K +3.63% $37.49 119K Aug 8, 2023 Direct
transaction BFS Common Stock Purchase $84.9K +2.26K +1.89% $37.55 122K Aug 9, 2023 Direct F15
holding BFS Common Stock 4.07K Aug 8, 2023 See footnote F1
holding BFS Common Stock 3K Aug 8, 2023 See footnote F2
holding BFS Common Stock 35.1K Aug 8, 2023 See footnote F3
holding BFS Common Stock 404K Aug 8, 2023 See footnote F4
holding BFS Common Stock 534K Aug 8, 2023 See footnote F5
holding BFS Common Stock 2.77K Aug 8, 2023 See footnote F6
holding BFS Common Stock 146K Aug 8, 2023 See footnote F7
holding BFS Common Stock 8.32K Aug 8, 2023 See footnote F8
holding BFS Common Stock 400K Aug 8, 2023 See footnote F9
holding BFS Common Stock 358K Aug 8, 2023 See footnote F10
holding BFS Common Stock 8.44M Aug 8, 2023 See footnote F11
holding BFS Common Stock 5.78K Aug 8, 2023 401K F12
holding BFS Common Stock 127K Aug 8, 2023 401K F13
holding BFS Common Stock 149K Aug 8, 2023 See footnote F14

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 44.1K Aug 8, 2023 Common Stock 44.1K Direct F16, F17, F18
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $51.07 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $57.74 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $59.41 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $49.46 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $55.71 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $50.00 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $43.89 Direct
holding BFS Units 8.83M Aug 8, 2023 Units 8.83M Direct F19
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Stock 2.5K $47.90 Direct
holding BFS Director Stock Option 2.5K Aug 8, 2023 Common Shares 2.5K $33.79 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 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.
F13 These securities are held directly by a 401(k) plan of which B. Francis Saul II is a beneficiary.
F14 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.
F15 Balance increased by July 31, 2023 Dividend Reinvestment Plan award of 1,772.705 shares.
F16 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.
F17 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.
F18 Includes 679.308 shares awarded July 31, 2023 as dividend reinvestments on shares of phantom stock held by the reporting person pursuant to the Deferred Compensation Plan.
F19 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.