Willoughby B. Laycock - May 17, 2024 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
SVP-Res. Design/Mrkt Research, Director
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, 08:14 PM
Previous filing
Jan 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Award $0 +500 +24.45% $0.00 2.55K May 17, 2024 Direct F4
holding BFS Common Stock 323 May 17, 2024 Spouse-401K F1
holding BFS Common Stock 319 May 17, 2024 Spouse F2, F3

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 +500 $0.00 500 May 17, 2024 Common Stock 500 $0.00 Direct F6
holding BFS Employee Stock Option 5K May 17, 2024 Common Stock 5K $55.71 Direct F5
holding BFS Director Stock Option 2.5K May 17, 2024 Common Stock 2.5K $55.71 Direct
holding BFS Employee Stock Option 10K May 17, 2024 Common Stock 10K $50.00 Direct F5
holding BFS Director Stock Option 2.5K May 17, 2024 Common Stock 2.5K $50.00 Direct
holding BFS Employee Stock Option 10K May 17, 2024 Common Stock 10K $43.89 Direct F5
holding BFS Director Stock Option 2.5K May 17, 2024 Common Stock 2.5K $43.89 Direct
holding BFS Employee Stock Option 10K May 17, 2024 Common Stock 10K $47.90 Direct F5
holding BFS Director Stock Option 2.5K May 17, 2024 Common Shares 2.5K $47.90 Direct
holding BFS Employee Stock Option 10K May 17, 2024 Common Stock 10K $33.79 Direct F5
holding BFS Director Stock Option 2.5K May 17, 2024 Common Stock 2.5K $33.79 Direct
holding BFS Phantom Stock 3.69K May 17, 2024 Common Stock 3.69K Direct F7, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Balance increased by January 31, 2024 Dividend Reinvestment Plan award and April 30, 2024 award totaling 10.233 shares.
F2 Balance increased by January 31, 2024 Dividend Reinvestment Plan award and April 30, 2024 award totaling 10.107 shares.
F3 Shares owned directly by the reporting person's spouse. The reporting person disclaims beneficial ownership of these shares.
F4 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.
F5 The options vest 25% per year over four years from the date of grant.
F6 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.
F7 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.
F8 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.
F9 Balance increased by January 31, 2024 Dividend Reinvestment Plan and April 30, 2024 award totaling 116.748 shares.

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."