LANSDALE JAMES PAGE (President and Chief Oper. Off.) sold 74.1% of their position (18.27K shares) of SAUL CENTERS, INC. on the open market

Open‑market sale worth $969.8K — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 2 sales

LANSDALE JAMES PAGE

Filed: 1/3/2022ACC: 0000907254-22-000002

InsiderLANSDALE JAMES PAGECIK 1472379

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IssuerSAUL CENTERS, INC.CIK 907254

DirectorOfficer· President and Chief Oper. Off.

Since May 2019

-18.27K

Net shares

Net seller

$969.8K

Total sold

Open market trades

0B · 2S

Total transactions

18.27K acquired · 36.55K disposed

Non-Derivative Transactions4

Common Shares

Direct

M · Option Exercise

+76.00

Price / share

$47.03

Trade value

$3.57K

% of position

1.2%

12/29/2021

6.40K→6.48K

Common Shares

Direct

S · Sale

−76.00

Price / share

$53.00

Trade value

$4.03K

% of position

1.2%

12/29/2021

6.48K→6.40K

Common Shares

Direct

M · Option Exercise

+18.20K

Price / share

$47.03

Trade value

$855.85K

% of position

284.3%

12/30/2021

6.40K→24.60K

Common Shares

Direct

S · Sale

−18.20K

Price / share

$53.07

Trade value

$965.77K

% of position

74.0%

12/30/2021

24.60K→6.40K

Total

Net shares

+0.00

Net value

-$110.37K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	12/29/2021	M · Option Exercise	+76.00	$47.03	$3.57K	1.2%	6.40K	6.48K
Common Shares Direct	12/29/2021	S · Sale	−76.00	$53.00	$4.03K	1.2%	6.48K	6.40K
Common Shares Direct	12/30/2021	M · Option Exercise	+18.20K	$47.03	$855.85K	284.3%	6.40K	24.60K
Common Shares Direct	12/30/2021	S · Sale	−18.20K	$53.07	$965.77K	74.0%	24.60K	6.40K
Total			+0.00		-$110.37K

Derivative Transactions2

Employee Stock Option

Direct

M · Option Exercise

Converts to

Common Stock

76.00 shares

−76.00

Strike price

47.03

Held after

18.20K

Exercisable

—

12/29/2021

Employee Stock Option

Direct

M · Option Exercise

Converts to

Common Stock

18.20K shares

−18.20K

Strike price

47.03

Held after

0.00

Exercisable

—

12/30/2021

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option Direct	Common Stock76.00 shares	12/29/2021	M · Option Exercise	−76.00	47.03	—	18.20K
Employee Stock Option Direct	Common Stock18.20K shares	12/30/2021	M · Option Exercise	−18.20K	47.03	—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)12

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

50.0

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

Exercise price

49.46

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

59.41

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

30K

Shares owned

30K

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

57.74

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

—

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

49.46

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

—

Total

Underlying

167.50K

Owned

167.50K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Director Stock Option Direct	Common Stock	50.0	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	49.46	—	—	30K	30K
Employee Stock Option Direct	Common Stock	57.74	—	—	30K	30K
Director Stock Option Direct	Common Stock	59.41	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	51.07	—	—	30K	30K
Director Stock Option Direct	Common Stock	57.74	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	55.71	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	51.07	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	49.46	—	—	2.50K	2.50K
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
Total					167.50K	167.50K