Joel Albert Friedman - 09 May 2025 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
Exec VP, CAO & Treasurer
Signature
/s/ Carlos L. Heard, by Power of Attorney
Issuer symbol
BFS
Transactions as of
09 May 2025
Net transactions value
$0
Form type
4
Filing time
13 May 2025, 17:28:02 UTC
Previous filing
10 Mar 2025
Next filing
05 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Friedman Joel Albert Exec VP, CAO & Treasurer 7501 WISCONSIN AVENUE, 15TH FLOOR, BETHESDA /s/ Carlos L. Heard, by Power of Attorney 13 May 2025 0001472420

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Award $0 +2,000 +85% $0.000000 4,349 09 May 2025 Direct F2, F3
holding BFS Series E Preferred Stock 200 09 May 2025 Direct
holding BFS Series D Preferred Stock 100 09 May 2025 Direct
holding BFS Common Stock 14,178 09 May 2025 401K 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 +2,000 $0.000000 2,000 09 May 2025 Common Stock 2,000 $0.000000 Direct F5
holding BFS Employee Stock Option 10,000 09 May 2025 Common Stock 10,000 $57.74 Direct F4
holding BFS Employee Stock Option 10,000 09 May 2025 Common Stock 10,000 $59.41 Direct F4
holding BFS Employee Stock Option 10,000 09 May 2025 Common Stock 10,000 $49.46 Direct F4
holding BFS Employee Stock Option 15,000 09 May 2025 Common Stock 15,000 $55.71 Direct F4
holding BFS Employee Stock Option 20,000 09 May 2025 Common Stock 20,000 $50.00 Direct F4
holding BFS Employee Stock Option 20,000 09 May 2025 Common Stock 20,000 $43.89 Direct F4
holding BFS Employee Stock Option 20,000 09 May 2025 Common Stock 20,000 $47.90 Direct F4
holding BFS Employee Stock Option 20,000 09 May 2025 Common Stock 20,000 $33.79 Direct F4
holding BFS Performance Shares 1,600 09 May 2025 Common Stock 1,600 $0.000000 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Effective April 1, 2009, shares formerly held by the B.F. Saul Company Employees' Profit Sharing Reinvestment Trust were distributed to the individual 401(k) plan accounts of participants. The number of shares reported represents the reporting person's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan.
F2 Represents restricted shares of Common Stock. Such shares vest on the first five anniversaries of May 9, 2025 in equal annual installments, assuming continued employment.
F3 Balance increased by April 30, 2025 Dividend Reinvestment Plan award of 2.741 shares.
F4 The options vest 25% per year over four years from the date of grant.
F5 The performance share award provides for the grant of restricted shares of Common Stock on each of the five anniversaries of May 9, 2025 in equal annual installments. The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 9, 2030, 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.