Joel Albert Friedman - 17 May 2026 Form 4 Insider Report for SAUL CENTERS, INC. (BFS)

Reporting relationship: Exec VP, CAO & Treasurer
Issuer ticker: BFS
Reported as of: 17 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 19 May 2026, 16:36:52 UTC
Prior SEC filing: 12 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Carlos L. Heard, by Power of Attorney

Key filing fact

Joel Albert Friedman filed Form 4 for SAUL CENTERS, INC. (BFS) on 19 May 2026.

Key facts

This page summarizes Joel Albert Friedman's Form 4 filing for SAUL CENTERS, INC. (BFS).
2 reported transactions and 6 derivative rows are listed below.
Accepted by SEC: 19 May 2026, 16:36.

Change

Previous filing in this sequence was filed on 12 May 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001472420 Primary reporting owner

Friedman Joel Albert

Relationship: Exec VP, CAO & Treasurer
Address: 7501 WISCONSIN AVENUE, 15TH FLOOR, BETHESDA
Signature: /s/ Carlos L. Heard, by Power of Attorney
Signature date: 19 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BFS transaction

Common Stock

Tax liability

Transaction value
Shares: -130
Change %: -1.6%
Price: $33.00^*
Shares after: 7,786
Date: 17 May 2026
Ownership: Direct

BFS transaction

Common Stock

Award

Transaction value
Shares: +40
Change %: +0.51%
Price: $33.00^*
Shares after: 7,826
Date: 17 May 2026
Ownership: Direct
Footnotes: F2

BFS holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 15,248
Date: 17 May 2026
Ownership: 401K
Footnotes: F1

BFS holding

Series E Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 200
Date: 17 May 2026
Ownership: Direct

BFS holding

Series D Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 100
Date: 17 May 2026
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BFS holding Derivative

Employee Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 10,000
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 10,000
Exercise price: $59.41
Footnotes: F3

BFS holding Derivative

Employee Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 15,000
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 15,000
Exercise price: $55.71
Footnotes: F3

BFS holding Derivative

Employee Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 20,000
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 20,000
Exercise price: $50.00
Footnotes: F3

BFS holding Derivative

Performance Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,200
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,200
Exercise price: $0.000000

BFS holding Derivative

Performance Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,600
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,600
Exercise price: $0.000000

BFS holding Derivative

Performance Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,000
Date: 17 May 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,000
Exercise price: $0.000000

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Effective April 1, 2009, shares formerly held by the B.F. Saul Company Employees' Profit Sharing Reinvestment Trust were distributed to the individual 401(k) plan accounts of participants. The number of shares reported represents the reporting person's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan.

Footnote F2

Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 17, 2026.

Footnote F3

The options vest 25% per year over four years from the date of grant.

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