Carlos L. Heard - 11 Nov 2025 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
Senior Vice President & CFO
Signature
Carlos L. Heard
Issuer symbol
BFS
Transactions as of
11 Nov 2025
Net transactions value
+$27,968
Form type
4
Filing time
13 Nov 2025, 16:54:59 UTC
Previous filing
21 May 2025
Next filing
18 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Heard Carlos Lawrence Senior Vice President & CFO 7501 WISCONSIN AVENUE, SUITE 1500E, BETHESDA Carlos L. Heard 13 Nov 2025 0001849267

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Series D Preferred Stock Purchase $9,382 +450 +64% $20.85 1,150 11 Nov 2025 Direct
transaction BFS Series D Preferred Stock Purchase $9,315 +450 +39% $20.70 1,600 12 Nov 2025 Direct
transaction BFS Series D Preferred Stock Purchase $9,270 +450 +28% $20.60 2,050 13 Nov 2025 Direct
holding BFS Common Stock 4,725 11 Nov 2025 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding BFS Employee Stock Option 10,000 11 Nov 2025 Common Stock 10,000 $43.89 Direct F2
holding BFS Employee Stock Option 15,000 11 Nov 2025 Common Stock 15,000 $47.90 Direct F2
holding BFS Employee Stock Option 15,000 11 Nov 2025 Common Stock 15,000 $33.79 Direct F2
holding BFS Performance Shares 1,600 11 Nov 2025 Common Stock 1,600 $0.000000 Direct
holding BFS Performance Shares 2,000 11 Nov 2025 Common Stock 2,000 $0.000000 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Balance increased by October 31, 2025 Dividend Reinvestment Plan award of 5.924 shares.
F2 The options vest 25% per year over four years from the date of grant.