<SEC-DOCUMENT>0000907254-23-000046.txt : 20230516
<SEC-HEADER>0000907254-23-000046.hdr.sgml : 20230516
<ACCEPTANCE-DATETIME>20230516183717
ACCESSION NUMBER:		0000907254-23-000046
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230512
FILED AS OF DATE:		20230516
DATE AS OF CHANGE:		20230516

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CARACI PHILIP D
		CENTRAL INDEX KEY:			0001228461

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12254
		FILM NUMBER:		23929164

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAUL CENTERS, INC.
		CENTRAL INDEX KEY:			0000907254
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				521833074
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		7501 WISCONSIN AVENUE
		STREET 2:		SUITE 1500
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		301-986-7737

	MAIL ADDRESS:	
		STREET 1:		7501 WISCONSIN AVENUE
		STREET 2:		SUITE 1500
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAUL CENTERS INC
		DATE OF NAME CHANGE:	19930617
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>FORM 4
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        <issuerName>SAUL CENTERS, INC.</issuerName>
        <issuerTradingSymbol>BFS</issuerTradingSymbol>
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            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20814</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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                <value>Stock Option</value>
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                <value>2015-05-08</value>
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            <expirationDate>
                <value>2025-05-08</value>
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                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
                    <value>2500.0</value>
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                <sharesOwnedFollowingTransaction>
                    <value>2500</value>
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        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
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            <exerciseDate>
                <value>2016-05-06</value>
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            <expirationDate>
                <value>2026-05-06</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
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                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <expirationDate>
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    <footnotes>
        <footnote id="F1">Self-Trust. Reporting person is a Trustee</footnote>
        <footnote id="F2">Phantom shares are issuable pursuant to the Issuer's Deferred Compensation Plan for Directors under its 2004 Stock Plan, as amended (the &quot;Deferred Compensation Plan&quot;).  Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable, in cash or common stock, at the election of the reporting person, upon the reporting person's termination of service.</footnote>
        <footnote id="F3">The conversion of the phantom stock into shares of the Issuer's common stock is governed by the Deferred Compensation Plan and the reporting person's Deferred Fee Election Agreement.</footnote>
        <footnote id="F4">Includes a combined 1,782.794 shares awarded as as dividend reinvestments on shares of phantom stock held by the reporting person pursuant to the issuer's Deferred Compensation Plan under its 2004 Stock Plan and shares of phantom stock issued under the issuer's Deferred Compensation Stock Plan for Directors July 29, 2022, October 31, 2022, January 31, 2023 and April 28, 2023.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Carlos L. Heard, by Power of Attorney</signatureName>
        <signatureDate>2023-05-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
