LANSDALE JAMES PAGE (President and Chief Oper. Off.) sold 28.1% of their position (2.50K shares) of SAUL CENTERS, INC. on the open market

Open‑market sale worth $127.5K — a significant reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

LANSDALE JAMES PAGE

Filed: 12/2/2021ACC: 0000907254-21-000110

InsiderLANSDALE JAMES PAGECIK 1472379

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IssuerSAUL CENTERS, INC.CIK 907254

DirectorOfficer· President and Chief Oper. Off.

Since May 2019

-2.50K

Net shares

Net seller

$127.5K

Total sold

Open market trades

0B · 1S

Total transactions

2.50K acquired · 5K disposed

Non-Derivative Transactions3

Common Shares

Direct

M · Option Exercise

+497.00

Price / share

$39.29

Trade value

$19.53K

% of position

7.8%

12/1/2021

6.40K→6.90K

Common Shares

Direct

M · Option Exercise

+2K

Price / share

$44.42

Trade value

$88.97K

% of position

29.0%

12/1/2021

6.90K→8.90K

Common Shares

Direct

S · Sale

−2.50K

Price / share

$51.00

Trade value

$127.50K

% of position

28.1%

12/1/2021

8.90K→6.40K

Total

Net shares

+0.00

Net value

-$19K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	12/1/2021	M · Option Exercise	+497.00	$39.29	$19.53K	7.8%	6.40K	6.90K
Common Shares Direct	12/1/2021	M · Option Exercise	+2K	$44.42	$88.97K	29.0%	6.90K	8.90K
Common Shares Direct	12/1/2021	S · Sale	−2.50K	$51.00	$127.50K	28.1%	8.90K	6.40K
Total			+0.00		-$19K

Derivative Transactions2

Employee Stock Option

Direct

M · Option Exercise

Converts to

Common Stock

497.00 shares

−497.00

Strike price

39.29

Held after

0.00

Exercisable

—

12/1/2021

Employee Stock Option

Direct

M · Option Exercise

Converts to

Common Stock

2K shares

−2K

Strike price

44.42

Held after

Exercisable

—

12/1/2021

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option Direct	Common Stock497.00 shares	12/1/2021	M · Option Exercise	−497.00	39.29	—	0.00
Employee Stock Option Direct	Common Stock2K shares	12/1/2021	M · Option Exercise	−2K	44.42	—	2K

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)13

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

51.07

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

57.74

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

49.46

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

57.74

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

47.03

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

55.71

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

43.89

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

59.41

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

50.0

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

51.07

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

59.41

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

49.46

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

55.71

Expiration

—

Exercise window

—

Total

Underlying

197.50K

Owned

197.50K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option Direct	Common Stock	51.07	—	—	30K	30K
Employee Stock Option Direct	Common Stock	57.74	—	—	30K	30K
Director Stock Option Direct	Common Stock	49.46	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	57.74	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	47.03	—	—	30K	30K
Employee Stock Option Direct	Common Stock	55.71	—	—	30K	30K
Director Stock Option Direct	Common Stock	43.89	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	59.41	—	—	30K	30K
Director Stock Option Direct	Common Stock	50.0	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	51.07	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	59.41	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	49.46	—	—	30K	30K
Director Stock Option Direct	Common Stock	55.71	—	—	2.50K	2.50K
Total					197.50K	197.50K