Carlos L. Heard - 27 Sep 2024 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role: Senior Vice President & CFO
Signature: Carlos L. Heard
Issuer symbol: BFS
Transactions as of: 27 Sep 2024
Net transactions value: +$4,650
Form type: 4
Filing time: 01 Oct 2024, 18:17:29 UTC
Previous filing: 21 May 2024
Next filing: 19 Dec 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFS	Series D Preferred Stock	Purchase	$4,650	+200	+100%	$23.25	400	27 Sep 2024	Direct
holding	BFS	Common Stock						2,219	27 Sep 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BFS	Employee Stock Option	10,000	27 Sep 2024	Common Stock	10,000	$43.89	Direct	F1
holding	BFS	Employee Stock Option	15,000	27 Sep 2024	Common Stock	15,000	$47.90	Direct	F1
holding	BFS	Employee Stock Option	15,000	27 Sep 2024	Common Stock	15,000	$33.79	Direct	F1
holding	BFS	Performance Shares	2,000	27 Sep 2024	Common Stock	2,000	$0.000000	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options vest 25% per year over four years from the date of grant.
F2	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.

Content

The options vest 25% per year over four years from the date of grant.

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.