David Todd Pearson - 11 Mar 2026 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Role
President & COO, Director
Signature
/s/ Carlos L. Heard, by Power of Attorney
Issuer symbol
BFS
Transactions as of
11 Mar 2026
Net transactions value
$0
Form type
4
Filing time
12 Mar 2026, 17:24:07 UTC
Previous filing
13 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Pearson David Todd President & COO, Director 7501 WISCONSIN AVENUE, SUITE 1500, BETHESDA /s/ Carlos L. Heard, by Power of Attorney 12 Mar 2026 0001804456

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFS Common Stock Options Exercise +7,000 +14% $0.000000* 57,619 11 Mar 2026 Direct F2, F3
transaction BFS Common Stock Award +3,500 +6.1% $0.000000* 61,119 11 Mar 2026 Direct F4
holding BFS Common Stock 2,414 11 Mar 2026 Spouse IRA 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
transaction BFS Performance Shares Options Exercise -3,500 -25% $0.000000* 10,500 11 Mar 2026 Common Stock 3,500 $0.000000 Direct
transaction BFS Performance Shares Options Exercise -3,500 -20% $0.000000* 14,000 11 Mar 2026 Common Stock 3,500 $0.000000 Direct
holding BFS Employee Stock Option 5,000 11 Mar 2026 Common Stock 5,000 $59.41 Direct F5
holding BFS Employee Stock Option 5,000 11 Mar 2026 Common Stock 5,000 $49.46 Direct F5
holding BFS Employee Stock Option 7,500 11 Mar 2026 Common Stock 7,500 $55.71 Direct F5
holding BFS Employee Stock Option 15,000 11 Mar 2026 Common Stock 15,000 $50.00 Direct F5
holding BFS Employee Stock Option 25,000 11 Mar 2026 Common Stock 25,000 $43.89 Direct F5
holding BFS Employee Stock Option 30,000 11 Mar 2026 Common Stock 30,000 $47.90 Direct F5
holding BFS Employee Stock Option 30,000 11 Mar 2026 Common Shares 30,000 $33.79 Direct F5
holding BFS Director Stock Option 2,500 11 Mar 2026 Common Stock 2,500 $33.79 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 45.444 shares.
F2 Represents restricted shares of Common Stock. Fifty percent (50%) of the shares vest on May 17, 2029, and the remaining fifty percent (50%) vest on May 9, 2030, subject to the reporting persons continued employment through the applicable vesting dates.
F3 Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 51.987 shares.
F4 Represents additional restricted shares of Common Stock earned based on the achievement of performance criteria with respect to a performance period commencing on January 1, 2025 and ending on December 31, 2025. Fifty percent (50%) of the shares vest on May 17, 2029, and the remaining fifty percent (50%) vest on May 9, 2030, subject to the reporting persons continued employment through the applicable vesting dates.
F5 The options vest 25% per year over four years from the date of grant.