Saul Centers (NYSE: BFS) officer adds stock via awards, options

Rhea-AI Filing Summary

Saul Centers, Inc. senior vice president John Collich reported routine equity compensation activity. On March 11, 2026, he exercised performance share awards into 600 shares of Common Stock at a stated price of $0.00 per share and received an additional 300 restricted Common shares. Following these transactions, he directly holds 51,042.62 Common shares, plus 872 shares of Series E preferred stock and indirect Common Stock holdings of 2,878 shares through his wife and 2,221 shares in an IRA. The filing also lists multiple employee stock options on 20,000 underlying Common shares each, with exercise prices between $33.79 and $59.41 and expirations from 2026 through 2033.

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

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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^*

Collich John

(Last) (First) (Middle)

7501 WISCONSIN AVENUE

15TH FLOOR

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP, Chief Acq. & Dev. Off.

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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

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

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

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								2,878(1)	I	Wife
Series E Preferred Stock								872	D
Common Stock								2,221(2)	I	IRA
Common Stock	03/11/2026		M		600(3)	A	$0	49,859.62(4)	D
Common Stock	03/11/2026		A		300(5)	A	$0	51,042.62	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	$57.74							05/06/2016(6)	05/06/2026	Common Stock	20,000		20,000	D
Employee Stock Option	$59.41							05/05/2017(6)	05/05/2027	Common Stock	20,000		20,000	D
Employee Stock Option	$49.46							05/11/2018(6)	05/11/2028	Common Stock	20,000		20,000	D
Employee Stock Option	$55.71							05/03/2019(6)	05/03/2029	Common Stock	20,000		20,000	D
Employee Stock Option	$50							04/24/2020(6)	04/24/2030	Common Stock	20,000		20,000	D
Employee Stock Option	$43.89							05/07/2021(6)	05/07/2031	Common Stock	20,000		20,000	D
Employee Stock Option	$47.9							05/13/2022(6)	05/13/2032	Common Stock	20,000		20,000	D
Employee Stock Option	$33.79							05/12/2023(6)	05/12/2033	Common Stock	20,000		20,000	D
Performance Shares	$0	03/11/2026		M			300	05/17/2029	05/17/2029	Common Stock	300	$0	900	D
Performance Shares	$0	03/11/2026		M			300	05/09/2030	05/09/2030	Common Stock	300	$0	1,200	D

Explanation of Responses:

1. Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 54 shares.

2. Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 41 shares.

3. 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.

4. Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 883 shares.

5. 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.

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

Remarks:

	/s/ Carlos L. Heard, by Power of Attorney	03/12/2026
	** 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).
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FAQ

What insider transactions did BFS executive John Collich report on this Form 4?

John Collich reported exercising performance share awards into 600 shares of Saul Centers Common Stock and receiving an additional 300 restricted Common shares. These are equity compensation events, not open-market purchases or sales, and were recorded at a stated price of $0.00 per share.

How many Saul Centers (BFS) Common shares does John Collich hold after these transactions?

After the reported transactions, John Collich directly holds 51,042.62 shares of Saul Centers Common Stock. The filing also shows indirect holdings of 2,878 Common shares through his wife and 2,221 Common shares in an IRA, providing a fuller picture of his equity exposure.

Were there any open-market buys or sells in this Saul Centers (BFS) Form 4?

No open-market buys or sells were reported. The Form 4 shows derivative exercises of performance shares into 600 Common shares and a grant of 300 restricted Common shares, all recorded at a stated price of $0.00 per share as part of compensation arrangements.

What stock options for Saul Centers (BFS) does John Collich retain after this filing?

The filing lists several employee stock options on 20,000 underlying Saul Centers Common shares each. Exercise prices range from $33.79 to $59.41, with option expiration dates spanning from 2026 through 2033, indicating a sizable remaining long-term incentive position.

What preferred and indirect shareholdings does the BFS executive report?

In addition to Common Stock, the executive directly holds 872 shares of Series E preferred stock. The Form 4 also reports indirect ownership of 2,878 Saul Centers Common shares through his wife and 2,221 Common shares held in an IRA, broadening his overall exposure.