Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of March 9, 2023, Ms. Patricia Saul Lotuff was appointed to the
Board of Directors ("Board") of Saul Centers, Inc. (the "Company"). Ms. Lotuff
is not currently expected to be named to any committees of the Board. There have
been no transactions, either since the beginning of the Company's last fiscal
year or that are currently proposed, regarding Ms. Lotuff that are required to
be disclosed pursuant to Item 404(a) of Regulation S-K.
Ms. Lotuff has served as a member of the Board of Directors of the B. F. Saul
Company, Columbia Securities Company of Washington, D.C., Franklin Development
Co., Inc., and The Klingle Corporation since December 23, 2016. Effective March
2, 2022, she was elected Vice Chair of each board. Ms. Lotuff has served as a
member of the Board of Trustees of the B. F. Saul Real Estate Investment Trust
since June 18, 2017. She was elected as Vice Chair on January 20, 2022. Ms.
Lotuff has served as a member of the Board of Directors of Chevy Chase Trust
Company and ASB Capital Management, LLC since December 5, 2018, and was elected
as a Vice Chair of each board on March 10, 2022. Ms. Lotuff has previously
served on and chaired the boards of several philanthropic, civic and non-profit
organizations. Ms. Lotuff is the daughter of the Company's Chairman and Chief
Executive Officer, B. Francis Saul II, the sister of Andrew M. Saul II, a member
of the Board, and the aunt of Willoughby B. Laycock, a member of the Board.
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