Saul Centers (NYSE: BFS) EVP boosts stake with award exercises and new grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Saul Centers, Inc. executive Joel Albert Friedman increased his equity stake through awards and exercises. On 2026-03-11, he exercised performance share awards covering 800 shares of Common Stock at an exercise price of 0.0000 per share, and received an additional 400 restricted shares of Common Stock as a grant.
Following these transactions, he directly holds 6,009.909 shares of Common Stock and has indirect exposure to 14,971 shares through a 401(k) plan stock fund. The restricted shares and performance-based awards generally vest 50% on May 17, 2029 and 50% on May 9, 2030, subject to continued employment. He also retains multiple employee stock options over Common Stock with exercise prices between 33.7900 and 59.4100, expiring from 2026-05-06 through 2033-05-12.
Positive
- None.
Negative
- None.
Insider Trade Summary
800 shares exercised/converted
Mixed
15 txns
Insider
Friedman Joel Albert
Role
Exec VP, CAO & Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 400 | $0.00 | -- |
| Exercise | Performance Shares | 400 | $0.00 | -- |
| Exercise | Common Stock | 800 | $0.00 | -- |
| Grant/Award | Common Stock | 400 | $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 | Employee Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series E Preferred Stock | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Performance Shares — 1,200 shares (Direct);
Common Stock — 5,609.909 shares (Direct);
Employee Stock Option — 10,000 shares (Direct);
Common Stock — 14,971 shares (Indirect, 401K);
Series E Preferred Stock — 200 shares (Direct);
Series D Preferred Stock — 100 shares (Direct)
Footnotes (1)
- 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. 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. Balance increased by July 31, 2025 Dividend Reinvestment Plan award, October 31, 2025 award and January 31, 2026 award totaling 34.339 shares 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. The options vest 25% per year over four years from the date of grant.
FAQ
What did Saul Centers (BFS) executive Joel Albert Friedman do in this Form 4?
Joel Albert Friedman exercised performance share awards and received a stock grant. He converted 800 performance shares into Common Stock and was granted 400 additional restricted shares, increasing his direct ownership and reinforcing stock-based compensation aligned with long-term company performance and employment conditions.
What types of equity awards did Joel Albert Friedman receive from Saul Centers (BFS)?
He received both performance-based and time-based restricted stock awards. The filing shows exercised performance shares converted into Common Stock and a grant of 400 restricted shares, with vesting tied to specific future dates and continued employment, aligning incentives with long-term company results.
What stock options does Joel Albert Friedman still hold in Saul Centers (BFS)?
He continues to hold multiple employee stock option grants over Common Stock. These options have exercise prices ranging from $33.7900 to $59.4100 per share and expiration dates between May 6, 2026, and May 12, 2033, reflecting a long-dated equity incentive position.
Is Joel Albert Friedman’s Saul Centers (BFS) Form 4 a stock sale or a purchase?
The Form 4 reflects equity acquisitions, not stock sales. It reports derivative exercises of performance share awards and a grant of restricted Common Stock, all recorded with acquisition-related transaction codes and no open-market sales or disposition transactions disclosed in the summarized data.