Saul Centers president buys 2,600 BFS shares

Saul Centers, Inc. President & COO David Todd Pearson reported an open-market purchase of 2,600 shares of Common Stock at $34.745 per share.

Rhea-AI Filing Summary

Saul Centers, Inc. President & COO David Todd Pearson reported an open-market purchase of 2,600 shares of Common Stock at $34.745 per share. After this transaction, he directly holds 79,321.2814 common shares and also has 2,456.635 shares held indirectly through a Spouse IRA.

In addition, he holds multiple performance share awards that can convert into 17,500, 14,000 and 10,500 Common Stock shares, and several employee stock options with exercise prices ranging from $33.79 to $59.41 per share and expirations between 2027 and 2033. These derivative positions represent potential future share ownership if exercised or vested.

Insider Trade Summary

Net Buyer: 2,600 shares

Net Buy 13 txns

Insider Pearson David Todd

Role President & COO

Bought 2,600 shs ($90K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,600	$34.745	$90K
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	Director Stock Option	--	--	--
holding	Performance Shares	--	--	--
holding	Performance Shares	--	--	--
holding	Performance Shares	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 79,321.2814 shares (Direct); Employee Stock Option — 117,500 contracts (Direct); Director Stock Option — 2,500 contracts (Direct); Performance Shares — 42,000 contracts (Direct); Common Stock — 2,456.635 shares (Indirect, Spouse IRA)

Footnotes (1)

1. F1. The options vest 25% per year over four years from the date of grant.

Key Figures

Open-market purchase: 2,600 shares at $34.745 Direct common shares after purchase: 79,321.2814 shares Indirect Spouse IRA holding: 2,456.635 shares +4 more

7 metrics

Open-market purchase 2,600 shares at $34.745 Common Stock bought on 2026-05-28

Direct common shares after purchase 79,321.2814 shares Common Stock directly owned following transaction

Indirect Spouse IRA holding 2,456.635 shares Common Stock held indirectly via Spouse IRA

Performance shares 1 17,500 underlying shares Performance Shares, $0.0000 exercise price, expiring 2031-05-08

Performance shares 2 14,000 underlying shares Performance Shares, $0.0000 exercise price, expiring 2030-05-09

Employee stock option grant 30,000 underlying shares at $33.79 Employee Stock Option expiring 2033-05-12

Highest option strike $59.41 per share Employee Stock Option on 5,000 underlying shares, expiring 2027-05-05

Key Terms

Performance Shares, Employee Stock Option, Director Stock Option, Spouse IRA, +1 more

5 terms

Performance Shares financial

"security_title": "Performance Shares""

Performance shares are a type of company stock given to executives or employees that only become theirs if the company meets specific goals, like hitting certain profits or growth targets. They motivate leaders to work toward the company’s success, because their additional shares depend on achieving these results.

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.

Director Stock Option financial

"security_title": "Director Stock Option""

Spouse IRA financial

"nature_of_ownership": "Spouse IRA""

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BFS executive David Todd Pearson report?

David Todd Pearson reported buying 2,600 Saul Centers (BFS) common shares in an open-market transaction at $34.745 per share. The filing also updates his total direct and indirect holdings and lists various performance shares and stock options he continues to hold.

How many Saul Centers (BFS) shares does David Todd Pearson now hold directly?

Following the reported purchase, David Todd Pearson directly holds 79,321.2814 Saul Centers common shares. The filing separately shows an additional 2,456.635 shares held indirectly in a Spouse IRA and details several outstanding performance share awards and employee stock options.

How many Saul Centers (BFS) shares are held indirectly through Pearson’s Spouse IRA?

The filing shows 2,456.635 Saul Centers common shares held indirectly through a Spouse IRA. These are reported as indirect ownership, separate from Pearson’s 79,321.2814 directly held shares and his various performance share awards and employee stock option positions.

What performance share awards does David Todd Pearson hold in Saul Centers (BFS)?

Pearson holds performance shares linked to 17,500, 14,000 and 10,500 underlying Saul Centers common shares, all with a stated exercise price of $0.0000. These awards have expiration dates in 2029, 2030 and 2031 and can convert into common shares if vesting conditions are met.

What stock option positions does Pearson have in Saul Centers (BFS)?

Pearson holds director and employee stock options over 2,500 to 30,000 underlying shares per grant, with exercise prices between $33.79 and $59.41. Expiration dates range from 2027 to 2033, and a footnote states options vest 25% per year over four years from grant.

Does the BFS Form 4 indicate any insider share sales by David Todd Pearson?

The summarized Form 4 data shows one open-market purchase of 2,600 Saul Centers shares and no reported sales. Other entries reflect holding and derivative positions, such as performance shares and stock options, rather than additional buy or sell transactions during the reported period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/01/2026 - 11:06 AM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Pearson David Todd

(Last) (First) (Middle)

7501 WISCONSIN AVENUE

SUITE 1500

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SAUL CENTERS, INC. [ BFS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								2,456.635	I	Spouse IRA
Common Stock	05/28/2026		P		2,600	A	$34.745	79,321.2814	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option	$59.41							05/05/2017(1)	05/05/2027	Common Stock	5,000		5,000	D
Employee Stock Option	$49.46							05/11/2018(1)	05/11/2028	Common Stock	5,000		5,000	D
Employee Stock Option	$55.71							05/03/2019(1)	05/03/2029	Common Stock	7,500		7,500	D
Employee Stock Option	$50							04/24/2020(1)	04/24/2030	Common Stock	15,000		15,000	D
Employee Stock Option	$43.89							05/07/2021(1)	05/07/2031	Common Stock	25,000		25,000	D
Employee Stock Option	$47.9							05/13/2022(1)	05/13/2032	Common Stock	30,000		30,000	D
Employee Stock Option	$33.79							05/12/2023(1)	05/12/2033	Common Shares	30,000		30,000	D
Director Stock Option	$33.79							05/12/2023	05/12/2033	Common Stock	2,500		2,500	D
Performance Shares	$0							05/17/2029	05/17/2029	Common Stock	10,500		10,500	D
Performance Shares	$0							05/09/2030	05/09/2030	Common Stock	14,000		14,000	D
Performance Shares	$0							05/08/2031	05/08/2031	Common Stock	17,500		17,500	D

Explanation of Responses:

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

Remarks:

	/s/ Carlos L. Heard, by Power of Attorney	06/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)