Saul Centers (BFS) CFO reports stock awards and tax withholding on Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Saul Centers, Inc. Senior Vice President & CFO Carlos Lawrence Heard reported updated holdings in common and derivative securities. He received 40 shares of Common Stock at $33.00 per share in an exempt award tied to dividend equivalents on a restricted stock award that vested on May 17, 2026. To cover related tax obligations, 131 shares of Common Stock were disposed of through share withholding rather than an open-market sale, leaving him with 7,693.1597 direct common shares.
He also directly holds Series D Preferred Stock totaling 4,500 shares, plus performance share awards linked to 2,000, 1,600, and 1,200 underlying common shares that can settle at an exercise price of $0.00. In addition, he retains employee stock options over 15,000, 15,000, and 10,000 common shares with exercise prices of $33.79, $47.90, and $43.89, respectively, which vest 25% per year over four years from each grant date.
Positive
- None.
Negative
- None.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Heard Carlos Lawrence
Role
Senior Vice President & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 131 | $33.00 | $4K |
| Grant/Award | Common Stock | 40 | $33.00 | $1K |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,693.16 shares (Direct, null);
Employee Stock Option — 10,000 shares (Direct, null);
Performance Shares — 1,200 shares (Direct, null);
Series D Preferred Stock — 4,500 shares (Direct, null)
Footnotes (1)
- Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 17, 2026. The options vest 25% per year over four years from the date of grant.
Key Figures
Common stock award: 40 shares at $33.00
Tax withholding shares: 131 shares at $33.00
Direct common shares: 7,693.1597 shares
+5 more
8 metrics
Common stock award
40 shares at $33.00
Dividend equivalent award vesting May 17, 2026
Tax withholding shares
131 shares at $33.00
Shares withheld to satisfy tax liability
Direct common shares
7,693.1597 shares
Common stock held directly after transactions
Series D Preferred Stock
4,500 shares
Preferred shares held directly
Performance shares 2031
2,000 underlying shares at $0.00
Performance shares expiring May 8, 2031
Performance shares 2030
1,600 underlying shares at $0.00
Performance shares expiring May 9, 2030
Stock option $33.79
15,000 underlying shares
Option expiring May 12, 2033
Stock option $47.90
15,000 underlying shares
Option expiring May 13, 2032
Key Terms
Performance Shares, Employee Stock Option, dividend equivalents, restricted stock award, +2 more
6 terms
Employee Stock Option financial
"security_title": "Employee Stock Option""
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
dividend equivalents financial
"Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
restricted stock award financial
"dividend equivalents on filers restricted stock award, which vested on May 17, 2026"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
exercise price financial
"conversion_or_exercise_price": "33.7900""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What did Saul Centers (BFS) CFO Carlos Heard report in this Form 4?
CFO Carlos Heard reported updated equity holdings, including common stock, Series D preferred stock, performance shares, and stock options. The filing shows a small stock award and tax share withholding, rather than any open-market buying or selling of Saul Centers (BFS) shares.
What stock award did the Saul Centers (BFS) CFO receive on May 17, 2026?
On May 17, 2026, the CFO received 40 shares of Saul Centers common stock at $33.00 per share. The filing states these were acquired as dividend equivalents on a restricted stock award that vested on the same date, in an exempt, non-market transaction.
How do the Saul Centers (BFS) employee stock options vest for the CFO?
The filing explains that the options vest 25% per year over four years from the grant date. This standard vesting schedule applies to the reported employee stock option awards, aligning the CFO’s equity compensation with a multi-year service period at Saul Centers (BFS).