Sec Form 4 Filing - Friedman Joel Albert @ SAUL CENTERS, INC. - 2021-05-12

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Friedman Joel Albert
2. Issuer Name and Ticker or Trading Symbol
SAUL CENTERS, INC. [ BFS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Sr. VP, CAO & Treasurer
(Last) (First) (Middle)
7501 WISCONSIN AVENUE, 15TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
05/12/2021
(Street)
BETHESDA, MD20814
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 11,189.261 I ( 1 ) 401K
Series E Preferred Stock 200 D
Series D Preferred Stock 100 D
Common Shares 05/12/2021 M 500 A $ 41.82 617.617 D
Common Shares 05/12/2021 S 500 D $ 42.82 117.617 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Pric e of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option $ 41.82 05/12/2021 M 500 05/13/2011( 2 ) 05/13/2021 Common Stock 500 $ 41.82 0 ( 3 ) D
Employee Stock Option $ 44.42 05/10/2013( 2 ) 05/10/2023 Common Stock 10,000 10,000 D
Employee Stock Option $ 47.03 05/09/2014( 2 ) 05/09/2024 Common Stock 10,000 10,000 D
Employee Stock Option $ 51.07 05/08/2015( 2 ) 05/08/2025 Common Stock 10,000 10,000 D
Employee Stock Option $ 57.74 05/06/2016( 2 ) 05/06/2026 Common Stock 10,000 10,000 D
Employee Stock Option $ 59.41 05/05/2017( 2 ) 05/05/2027 Common Stock 10,000 10,000 D
Employee Stock Option $ 49.46 05/11/2018( 2 ) 05/11/2028 Common Stock 10,000 10,000 D
Employee Stock Option $ 55.71 05/03/2019( 2 ) 05/03/2029 Common Stock 15,000 15,000 D
Employee Stock Option $ 50 04/24/2020( 2 ) 04/24/2030 Common Stock 20,000 20,000 D
Employee Stock Option $ 43.89 05/07/2021( 2 ) 05/07/2031 Common Stock 20,000 20,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Friedman Joel Albert
7501 WISCONSIN AVENUE
15TH FLOOR
BETHESDA, MD20814
Sr. VP, CAO & Treasurer
Signatures
Carlos L. Heard, by Power of Attorney 05/13/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )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.
( 2 )The options vest 25% per year over four years from the date of grant.
( 3 )On 5/13/21, Options to purchase 4,500 shares of common stock expired.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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