Saul Centers, Inc. filings document regulatory disclosures for a self-managed equity REIT that owns, operates, and develops shopping center and mixed-use real estate. Recent 8-K reports furnish quarterly operating results and identify the company’s NYSE-listed common stock and depositary shares representing Series D and Series E cumulative redeemable preferred stock.
The filing record also includes proxy governance and executive compensation disclosures, board-change reports, and material definitive agreements involving Saul Holdings Limited Partnership, the company’s operating partnership. These documents describe the REIT’s public-company governance, capital structure, financing arrangements, and operating-result disclosures.
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.
Saul Centers, Inc. senior vice president Judith K. Garland reported equity compensation activity, exercising performance share units and receiving additional restricted stock, all as awards from the company rather than open-market trades.
On March 11, 2026, she exercised performance share awards tied to 200 and 300 underlying shares of common stock, and a related entry shows 500 shares of common stock acquired through derivative exercise. She also received a separate grant of 250 restricted shares of common stock as a compensation award.
Following these acquisitions, Garland directly holds 3,489 shares of Saul Centers common stock. Footnotes state that 200 of the restricted shares vest on May 17, 2029 and 300 vest on May 9, 2030, subject to continued employment. An additional 100 and 150 restricted shares earned based on 2025 performance vest on the same respective dates under similar conditions. She also retains employee stock options over 5,000, 5,000, and 10,000 underlying common shares at exercise prices of $43.89, $47.90, and $33.79, expiring in 2031, 2032, and 2033.
Saul Centers, Inc. senior vice president and chief construction officer Donald A. Hachey exercised performance share awards and received additional stock-based compensation. He exercised 600 Performance Shares into 600 shares of Common Stock and was granted 300 restricted shares of Common Stock.
The 300 restricted shares were earned based on 2025 performance criteria and vest 50% on May 17, 2029 and 50% on May 9, 2030, subject to his continued employment. Following these transactions, he holds 4,277.777 shares of Common Stock directly and retains multiple employee stock option grants expiring between 2026 and 2033.
Saul Centers, Inc. director and vice chair Patricia Saul reported compensation-related equity activity, not open-market trading. She exercised performance share awards to acquire 800 shares of Common Stock at $0 per share and received a grant of 400 additional restricted Common shares. Her direct Common Stock holdings increased to 21,833.641 shares. The restricted shares vest 50% on May 17, 2029 and 50% on May 9, 2030, conditioned on continued employment. She also continues to hold a director stock option covering 2,500 Common shares at an exercise price of $33.79, expiring in 2033.
Saul Centers, Inc. president and COO David Todd Pearson reported share acquisitions through equity awards. He exercised performance share awards to acquire 7,000 shares of common stock and received an additional grant of 3,500 restricted common shares at no cash price as compensation.
Following these transactions, he directly holds 61,118.903 shares of Saul Centers common stock. The filing also shows additional indirect ownership of 2,413.873 common shares held in a spouse IRA and multiple outstanding employee and director stock options that remain exercisable over future years.
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.
Saul Centers, Inc. senior vice president of residential operations Lori Godby reported equity compensation activity involving performance shares, restricted stock, and stock options. On March 11, 2026, she exercised performance share awards into 200 shares of Common Stock and received an additional 100 restricted shares of Common Stock as a grant based on performance criteria. According to the filing, the performance-based restricted shares relate to a period from January 1, 2025 through December 31, 2025, with 50% scheduled to vest on May 17, 2029 and the remaining 50% on May 9, 2030, subject to continued employment. The filing also lists three outstanding employee stock option grants on Common Stock with exercise prices of 43.8900, 47.9000, and 33.7900 per share, each expiring between 2031 and 2033, which vest 25% per year over four years from grant.
Saul Centers, Inc. SVP and director Willoughby B. Laycock reported equity compensation activity in company stock. On March 11, 2026 he acquired 200 shares of Common Stock through exercises or conversions of performance-based awards and received a 100-share grant at $0.0000 per share. After these awards, he holds 4,370.068 Common shares directly, plus additional stock options, performance-based awards, phantom stock units and indirect holdings through a spouse’s 401(k), all of which are compensation-related and not open-market trades.
Friedlis Zachary Maxwell reported acquisition or exercise transactions in this Form 4 filing.
Saul Centers, Inc. Senior Vice President and Director of Leasing Zachary Maxwell Friedlis reported equity award activity dated March 11, 2026. The filing includes derivative transactions in Performance Shares tied to 300 underlying shares of Common Stock each, a non-derivative entry for 600 Common shares at $0.0000 per share, and a grant of 300 restricted Common shares. After these entries he directly holds 2,100 Performance Shares, 5,206.093 shares of Common Stock, and 3,704.552 shares of Series D Preferred Stock. Footnotes describe vesting of certain restricted shares in 2029 and 2030 based on continued employment and note Dividend Reinvestment Plan awards totaling 61.074 shares.
Saul Centers, Inc. reported that Senior Vice President & CFO Carlos Lawrence Heard acquired additional equity through compensation-related awards. He exercised performance share awards covering 800 shares of Common Stock at a conversion price of $0.00 per share and received a further grant of 400 restricted Common shares, bringing his direct Common Stock holdings to 5,930.835 shares.
The restricted shares vest 50% on May 17, 2029 and 50% on May 9, 2030, subject to his continued employment. He also continues to hold employee stock options over 10,000, 15,000 and 15,000 Common shares at exercise prices of $43.89, $47.90 and $33.79, expiring between 2031 and 2033.