Joel Albert Friedman - May 9, 2025 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
Exec VP, CAO & Treasurer
Signature
/s/ Carlos L. Heard, by Power of Attorney
Stock symbol
BFS
Transactions as of
May 9, 2025
Transactions value $
$0
Form type
4
Date filed
5/13/2025, 05:28 PM
Previous filing
Mar 10, 2025
Next filing
May 21, 2025
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 2025-05-13 0001472420

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Award $0 +2K +85.16% $0.00 4.35K May 9, 2025 Direct F2, F3
holding BFS Series E Preferred Stock 200 May 9, 2025 Direct
holding BFS Series D Preferred Stock 100 May 9, 2025 Direct
holding BFS Common Stock 14.2K May 9, 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 +2K $0.00 2K May 9, 2025 Common Stock 2K $0.00 Direct F5
holding BFS Employee Stock Option 10K May 9, 2025 Common Stock 10K $57.74 Direct F4
holding BFS Employee Stock Option 10K May 9, 2025 Common Stock 10K $59.41 Direct F4
holding BFS Employee Stock Option 10K May 9, 2025 Common Stock 10K $49.46 Direct F4
holding BFS Employee Stock Option 15K May 9, 2025 Common Stock 15K $55.71 Direct F4
holding BFS Employee Stock Option 20K May 9, 2025 Common Stock 20K $50.00 Direct F4
holding BFS Employee Stock Option 20K May 9, 2025 Common Stock 20K $43.89 Direct F4
holding BFS Employee Stock Option 20K May 9, 2025 Common Stock 20K $47.90 Direct F4
holding BFS Employee Stock Option 20K May 9, 2025 Common Stock 20K $33.79 Direct F4
holding BFS Performance Shares 1.6K May 9, 2025 Common Stock 1.6K $0.00 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.