Saul Centers EVP granted 4,000 share awards
For SAUL CENTERS, INC.
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Form Type
4
Rhea-AI Filing Summary
For SAUL CENTERS, INC. (BFS), executive vice president, CAO and treasurer Joel Albert Friedman reported compensation-related equity activity rather than open-market trading. On May 8, 2026 he received 2,000 Common Stock shares and a derivative award of 2,000 Performance Shares, both at an exercise/price of $0.00 per share. On May 9, 2026 he had 131 Common shares delivered or withheld at $35.19 per share to pay an exercise price or tax liability and separately acquired 26 Common shares at the same price. The filing also lists multiple outstanding employee stock options and performance share awards and indirect ownership of Common Stock through a 401(k) plan.
Insider Trade Summary
16 transactions reported
Mixed
16 txns
Insider
Friedman Joel Albert
Role
Exec VP, CAO & Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 131 | $35.19 | $5K |
| Grant/Award | Common Stock | 26 | $35.19 | $914.94 |
| Grant/Award | Performance Shares | 2,000 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 2,000 | $0.00 | $0.00 |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series E Preferred Stock | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Performance Shares — 4,800 contracts for 2,800 underlying shares (Direct);
Common Stock — 7,915.7111 shares (Direct);
Employee Stock Option — 115,000 contracts (Direct);
Common Stock — 15,248 shares (Indirect, 401K);
Series E Preferred Stock — 200 shares (Direct);
Series D Preferred Stock — 100 shares (Direct)
Footnotes (6)
- 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.
- F2. Represents restricted shares of Common Stock. Such shares vest on the first five anniversaries of May 8, 2026 in equal annual installments, assuming continued employment.
- F3. Balance increased by April 30, 2026 Dividend Reinvestment Plan award of 10.8021 shares.
- F4. Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 9, 2026.
- F5. The options vest 25% per year over four years from the date of grant.
- F6. The performance share award provides for the grant of restricted shares of Common Stock on each of the five anniversaries of May 8, 2026 in equal annual installments. The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 8, 2031, and (2) achievement of performance criteria relating to the Companys target Funds from Operations available to common stockholders and noncontrolling interests (FFO) measured against an FFO amount included in the budget established by the Board of Directors annually prior to the start of such calendar year.
Key Figures
Common shares delivered/withheld (Code F): 131 shares at $35.19 per share
Common shares granted/awarded: 26 shares at $35.19 per share
Common Stock award: 2,000 shares at $0.00 per share
+5 more
8 metrics
Common shares delivered/withheld (Code F)
131 shares at $35.19 per share
Payment of exercise price or tax liability on May 9, 2026
Common shares granted/awarded
26 shares at $35.19 per share
Grant, award, or other acquisition on May 9, 2026
Common Stock award
2,000 shares at $0.00 per share
Non-derivative grant or award on May 8, 2026
Performance Shares award
2,000 underlying Common shares at $0.00 exercise price
Derivative grant or award on May 8, 2026, expiring May 8, 2031
Largest option block
20,000 underlying Common shares at $50.00 exercise price
Employee Stock Option expiring April 24, 2030
Indirect 401(k) Common Stock holding
15,248 shares
Common Stock held indirectly via 401(k) plan
Series E Preferred Stock holding
200 shares
Direct holding reported as of May 8, 2026
Series D Preferred Stock holding
100 shares
Direct holding reported as of May 8, 2026
Key Terms
Performance Shares, Dividend Reinvestment Plan award, Funds from Operations, cliff-vesting
4 terms
Dividend Reinvestment Plan award financial
"Balance increased by April 30, 2026 Dividend Reinvestment Plan award"
Funds from Operations financial
"performance criteria relating to the Companys target Funds from Operations"
Funds from operations (FFO) measures the cash a real estate-focused company generates from its core property operations by adjusting net income to add back non-cash expenses like building depreciation and removing one-time gains or losses from property sales. Investors use FFO like a household’s monthly take-home pay—it's a clearer view of ongoing cash available to pay dividends, maintain properties and fund growth than raw accounting profit.
cliff-vesting financial
"subject to cliff-vesting on May 8, 2031, and (2) achievement of performance"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did Joel Albert Friedman report receiving from BFS on May 8, 2026?
He reported awards tied to 2,000 shares of Common Stock and a derivative award of 2,000 Performance Shares, each with an exercise or grant price of $0.00 per share, with underlying Common Stock as the reference security.
What Common Stock transactions did BFS executive Joel Albert Friedman report on May 9, 2026?
He reported 131 Common shares delivered or withheld at $35.19 per share for payment of an exercise price or tax liability (code F), and a separate grant or award acquisition (code A) of 26 Common shares at $35.19 per share.
What derivative positions does Joel Albert Friedman hold in BFS according to this Form 4?
He holds several Employee Stock Options on BFS Common Stock, each covering from 10,000 to 20,000 underlying shares with exercise prices between $33.79 and $59.41 per share, expiring from 2027 through 2033, plus Performance Share awards on 1,200 and 1,600 underlying shares.
What preferred stock holdings of BFS does Joel Albert Friedman report?
He reports direct holdings of 200 shares of Series E Preferred Stock and 100 shares of Series D Preferred Stock. These are reported as holdings only, with no new transactions disclosed in this Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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