<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-01-17</periodOfReport>

    <issuer>
        <issuerCik>0000086115</issuerCik>
        <issuerName>SAFEGUARD SCIENTIFICS INC</issuerName>
        <issuerTradingSymbol>SFE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001720970</rptOwnerCik>
            <rptOwnerName>Morrison Maureen F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>150 N. RADNOR CHESTER RD.</rptOwnerStreet1>
            <rptOwnerStreet2>STE F-200</rptOwnerStreet2>
            <rptOwnerCity>RADNOR</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19087</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-01-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2312</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.10</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>54784</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported in Table I were awarded to the reporting person in lieu of quarterly fees for service on the Issuer's Board of Directors, which fees are paid in arrears following the end of the quarter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ G. Matthew Barnard, Agent For: Maureen Morrison</signatureName>
        <signatureDate>2022-01-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
