SAUL CENTERS, INC.|4May 13, 5:28 PM ET

Friedman Joel Albert 4

4 · SAUL CENTERS, INC. · Filed May 13, 2025

Form 4

Period: 2025-05-09

Exec VP, CAO & Treasurer

Transactions

Award
Performance Shares
2025-05-09+2,000→ 2,000 total
Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (2,000 underlying)
Award
Common Stock
2025-05-09+2,000→ 4,348.57 total

Holdings

Series E Preferred Stock
200
Employee Stock Option
Exercise: $55.71From: 2019-05-03Exp: 2029-05-03→ Common Stock (15,000 underlying)
15,000
Employee Stock Option
Exercise: $50.00From: 2020-04-24Exp: 2030-04-24→ Common Stock (20,000 underlying)
20,000
Employee Stock Option
Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (20,000 underlying)
20,000
Common Stock
(indirect: By 401(k))
14,178
Employee Stock Option
Exercise: $57.74From: 2016-05-06Exp: 2026-05-06→ Common Stock (10,000 underlying)
10,000
Employee Stock Option
Exercise: $49.46From: 2018-05-11Exp: 2028-05-11→ Common Stock (10,000 underlying)
10,000
Employee Stock Option
Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (20,000 underlying)
20,000
Series D Preferred Stock
100
Employee Stock Option
Exercise: $59.41From: 2017-05-05Exp: 2027-05-05→ Common Stock (10,000 underlying)
10,000
Employee Stock Option
Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (20,000 underlying)
20,000
Performance Shares
Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (1,600 underlying)
1,600

Footnotes (5)

[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.

Documents

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