Saul Centers (NYSE: BFS) executive reports new stock grants and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SAUL CENTERS, INC. senior vice president Zachary Maxwell Friedlis reported compensation-related equity awards and tax withholding transactions in company stock. On May 8, 2026, he received 1,500 restricted shares of Common Stock at $0.0000 per share, which vest in equal installments on the first five anniversaries of May 8, 2026, assuming continued employment.
He was also granted 1,500 Performance Shares tied to an equal number of underlying Common shares at a $0.0000 exercise price, scheduled to cliff-vest on May 8, 2031 subject to multi-year Funds from Operations performance criteria. On May 9, 2026, he acquired 13 Common shares as dividend equivalents at $35.19 per share, while 97 shares were withheld at the same price to cover tax liabilities.
Following these transactions, he directly holds 6,629.575 Common shares. He also holds earlier Performance Share awards representing 1,200 and 900 underlying Common shares with zero exercise price and expiration dates in 2029 and 2030, respectively.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Friedlis Zachary Maxwell
Role
Sr. VP-Director of Leasing
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 97 | $35.19 | $3K |
| Grant/Award | Common Stock | 13 | $35.19 | $457.47 |
| Grant/Award | Performance Shares | 1,500 | $0.00 | -- |
| Grant/Award | Common Stock | 1,500 | $0.00 | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Performance Shares | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 6,629.575 shares (Direct, null);
Performance Shares — 1,500 shares (Direct, null);
Series D Preferred Stock — 3,704.552 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 20.482 shares. Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 9, 2026. 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: 1,500 shares at $0.0000
Performance Shares grant: 1,500 Performance Shares at $0.0000
Dividend-equivalent acquisition: 13 Common shares at $35.19
+4 more
7 metrics
Restricted stock grant
1,500 shares at $0.0000
Common Stock award on May 8, 2026
Performance Shares grant
1,500 Performance Shares at $0.0000
Underlying 1,500 Common shares, cliff-vesting May 8, 2031
Dividend-equivalent acquisition
13 Common shares at $35.19
Dividend equivalents on May 9, 2026
Tax withholding shares
97 Common shares at $35.19
Shares withheld for tax liability on May 9, 2026
Common shares held
6,629.575 shares
Direct Common Stock holdings after transactions
Outstanding Performance Shares 2030
1,200 underlying shares
Performance Shares expiring May 9, 2030
Outstanding Performance Shares 2029
900 underlying shares
Performance Shares expiring May 17, 2029
Key Terms
restricted shares of Common Stock, Dividend Reinvestment Plan, dividend equivalents, Performance Shares, +1 more
5 terms
Dividend Reinvestment Plan financial
"Balance increased by April 30, 2026 Dividend Reinvestment Plan award of 20.482 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"
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.
FAQ
What equity awards did Zachary Maxwell Friedlis receive from SAUL CENTERS, INC. (BFS)?
Zachary Maxwell Friedlis received 1,500 restricted shares of Common Stock and 1,500 Performance Shares, each with a $0.0000 exercise price. The restricted shares vest over five years, while Performance Shares may convert to Common Stock in 2031 if performance goals are achieved.