Judith K. Garland - May 17, 2024 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
SVP, Office and Retail
Signature
/s/ Carlos L. Heard, by Power of Attorney
Stock symbol
BFS
Transactions as of
May 17, 2024
Transactions value $
$0
Form type
4
Date filed
5/21/2024, 08:11 PM
Previous filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Award $0 +1K $0.00 1K May 17, 2024 Direct F1

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 Performance Shares Award $0 +1K $0.00 1K May 17, 2024 Common Stock 1K $0.00 Direct F3
holding BFS Employee Stock Option 5K May 17, 2024 Common Stock 5K $43.89 Direct F2
holding BFS Employee Stock Option 5K May 17, 2024 Common Stock 5K $47.90 Direct F2
holding BFS Employee Stock Option 10K May 17, 2024 Common Stock 10K $33.79 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted shares of Common Stock. Such shares vest on the first five anniversaries of May 17, 2024 in equal annual installments, assuming continued employment.
F2 The options vest 25% per year over four years from the date of grant.
F3 The performance share award provides for the grant of restricted shares of Common Stock on each of the five anniversaries of May 17, 2024 in equal annual installments. The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 17, 2029, and (2) achievement of performance criteria relating to the Companys target Funds from Operations available to common stockholders and noncontrolling interests (FFO) measured against an FFO amount included in the budget established by the Board of Directors annually prior to the start of such calendar year.

Remarks:

Previous beneficial ownership reports filed pursuant to Section 16(a) by the reporting person referred to the Issuer's Common Stock, par value $0.01 per share as "Common Shares." Going forward, such shares will be referred to as "Common Stock."