SAUL CENTERS, INC. — Director's Dealing 2021

Nov 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS, INC. (BFS)
CIK: 0000907254
Period of Report: 2021-11-09

Reporting Person: COLLICH JOHN F (Sr. VP, Chief Acq. & Dev. Off.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-09	Common Shares	S	2541	$51.38	Disposed	33064.601	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2191.871	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$39.29	2022-05-04	Common Stock (2545.0)	2545	Direct
Employee Stock Option	$44.42	2023-05-10	Common Stock (5000.0)	5000	Direct
Employee Stock Option	$47.03	2024-05-09	Common Stock (10000.0)	10000	Direct
Employee Stock Option	$51.07	2025-05-08	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$57.74	2026-05-06	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$59.41	2027-05-05	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$49.46	2028-05-11	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$55.71	2029-05-03	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$50.0	2030-04-24	Common Stock (20000.0)	20000	Direct
Employee Stock Option	$43.89	2031-05-07	Common Stock (20000.0)	20000	Direct

Footnotes

F1: Balance increased by July 31, 2021 Dividend Reinvestment Plan award and October 31, 2021 award of 26.198 shares and 25.922 shares, respectively.

F2: Balance increased by July 31, 2021 Dividend Reinvestment Plan award and October 31, 2021 award of 20.432 shares and 20.220 shares, respectively.

F3: The options vest 25% per year over four years from the date of grant.