SAUL CENTERS, INC. — Director's Dealing 2022

May 23, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAUL CENTERS, INC. (BFS)
CIK: 0000907254
Period of Report: 2022-05-20

Reporting Person: Heard Carlos Lawrence (Senior Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-20	Common Shares	P	100	$45.25	Acquired	100	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$43.89	2031-05-07	Common Stock (10000.0)	10000	Direct
Employee Stock Option	$47.9	2032-05-13	Common Stock (15000.0)	15000	Direct

Footnotes

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