Saul Centers (NYSE: BFS) CFO granted stock awards, with shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Saul Centers, Inc. Senior Vice President & CFO Carlos Lawrence Heard reported new equity compensation and related tax withholding. On May 8, 2026, he received 2,000 restricted shares of Common Stock at $0.0000 per share, which vest in five equal annual installments beginning on May 8, 2026, assuming continued employment. On May 9, 2026, he acquired 19 Common Shares at $35.19 as dividend equivalents tied to previously granted restricted stock, while 131 shares at the same price were withheld to satisfy tax obligations. After these transactions, he directly holds 7,805.1597 Common Shares. He also reports outstanding derivative incentives, including performance shares convertible into Common Stock and employee stock options with exercise prices between $33.79 and $47.90 expiring between 2031 and 2033.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Heard Carlos Lawrence
Role
Senior Vice President & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 131 | $35.19 | $5K |
| Grant/Award | Common Stock | 19 | $35.19 | $668.61 |
| Grant/Award | Performance Shares | 2,000 | $0.00 | -- |
| Grant/Award | Common Stock | 2,000 | $0.00 | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Employee Stock Option | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,805.16 shares (Direct, null);
Performance Shares — 2,000 shares (Direct, null);
Employee Stock Option — 10,000 shares (Direct, null);
Series D Preferred Stock — 4,500 shares (Direct, null)
Footnotes (1)
- 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. Balance increased by April 30, 2026 Dividend Reinvestment Plan award of 5.3247 shares. Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 9, 2026. The options vest 25% per year over four years from the date of grant. 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
Restricted stock grant: 2,000 shares at $0.0000
Dividend-equivalent shares: 19 shares at $35.19
Tax withholding shares: 131 shares at $35.19
+5 more
8 metrics
Restricted stock grant
2,000 shares at $0.0000
Common Stock award on May 8, 2026
Dividend-equivalent shares
19 shares at $35.19
Common Stock acquired May 9, 2026
Tax withholding shares
131 shares at $35.19
Shares withheld for tax obligations
Common shares held
7,805.1597 shares
Direct ownership after transactions
Performance shares (2030)
1,600 underlying shares at $0.0000
Performance Shares expiring May 9, 2030
Stock options at $33.79
15,000 underlying shares
Employee Stock Option expiring May 12, 2033
Stock options at $47.90
15,000 underlying shares
Employee Stock Option expiring May 13, 2032
Stock options at $43.89
10,000 underlying shares
Employee Stock Option expiring May 7, 2031
Key Terms
restricted shares of Common Stock, Dividend Reinvestment Plan, dividend equivalents, performance share award, +2 more
6 terms
Dividend Reinvestment Plan financial
"Balance increased by April 30, 2026 Dividend Reinvestment Plan award of 5.3247 shares."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
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.
Funds from Operations financial
"achievement of performance criteria relating to the Companys target Funds from Operations available to common stockholders..."
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
"The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 8, 2031..."
FAQ
What did Saul Centers (BFS) CFO Carlos Heard report in this Form 4?
The CFO reported new equity compensation and related tax withholding. He received restricted Common Stock, dividend-equivalent shares, and reported share withholding for taxes, along with updated holdings of common shares, performance shares, and stock options.
What is the CFO’s Saul Centers (BFS) common stock holding after these transactions?
Following the reported awards and tax withholding, the CFO directly holds 7,805.1597 shares of Saul Centers, Inc. Common Stock, according to the post-transaction ownership figures in the filing.
What performance-based equity awards does the Saul Centers (BFS) CFO hold?
He holds performance share awards tied to Common Stock, including grants with 1,600 and 1,200 underlying shares, subject to future vesting based on Funds from Operations performance and long-term cliff-vesting schedules described in the award terms.