Welcome to our dedicated page for Saul Ctrs SEC filings (Ticker: BFS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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. (BFS) reported an insider transaction by Senior Vice President & CFO Carlos L. Heard. On 11/20/2025, he purchased 300 shares of the company’s Series D Preferred Stock at $20.55 per share, bringing his beneficial ownership in that series to 4,000 shares held directly.
The filing also lists existing equity incentives. Heard holds employee stock options to buy 10,000 shares of common stock granted 05/07/2021 at an exercise price of $43.89, 15,000 shares granted 05/13/2022 at $47.90, and 15,000 shares granted 05/12/2023 at $33.79. These options vest 25% per year over four years from each grant date and expire ten years after grant.
In addition, he holds performance share awards covering 1,600 common shares with a 05/17/2029 date and 2,000 common shares with a 05/09/2030 date, all reported as directly owned. The filing is made by one reporting person and confirms his role as Senior Vice President & CFO.
Saul Centers, Inc. (BFS) reported insider activity by Senior Vice President & CFO Carlos L. Heard. On 11/14/2025, 11/17/2025, and 11/18/2025, he purchased a total of 1,650 shares of Series D Preferred Stock in three open-market transactions at prices of $20.50, $20.54, and $20.35 per share. After these purchases, he beneficially owned 3,700 shares of Series D Preferred Stock.
The filing also shows beneficial ownership of 4,725.176 shares of Common Stock. In addition, he holds employee stock options for 10,000 shares of Common Stock at an exercise price of $43.89 expiring 05/07/2031, 15,000 shares at $47.90 expiring 05/13/2032, and 15,000 shares at $33.79 expiring 05/12/2033. These options vest 25% per year over four years from the grant date. He also holds performance shares covering 1,600 shares of Common Stock vesting on 05/17/2029 and 2,000 shares vesting on 05/09/2030.
Saul Centers, Inc. (BFS) disclosed insider purchases by Senior Vice President & CFO Carlos L. Heard. He bought 450 Series D Preferred shares on 11/11/2025 at $20.85, 450 on 11/12/2025 at $20.70, and 450 on 11/13/2025 at $20.60, totaling 1,350 shares. Following these trades, his direct holdings of Series D Preferred were 2,050 shares. He also held 4,725.176 shares of Common Stock, which the filing notes increased by a 5.924 share Dividend Reinvestment Plan award on October 31, 2025.
Derivative holdings include employee stock options for 10,000 shares at $43.89 expiring 05/07/2031, 15,000 at $47.90 expiring 05/13/2032, and 15,000 at $33.79 expiring 05/12/2033; options vest 25% per year over four years from grant. Performance shares listed: 1,600 and 2,000 underlying Common Stock with dates 05/17/2029 and 05/09/2030, respectively.
Saul Centers, Inc. (BFS) reported an insider open-market purchase by a company officer. On 11/12/2025, the officer bought 2,000 shares of common stock at $29.9933 per share, a transaction coded “P.” Following this trade, the officer directly owned 49,259.62 common shares.
Separately, the filing lists 2,180 common shares held indirectly via an IRA (per footnote 1) and 2,824 common shares held indirectly by the officer’s spouse (per footnote 2). The footnotes also note dividend reinvestment plan awards that increased these balances (footnote 3 references added fractional shares). The officer also beneficially owns multiple employee stock options, each for 20,000 underlying shares with grant years 2016–2023 and stated expiration dates through 2033, plus performance shares of 1,200 and 1,500 with 2029 and 2030 dates.
Saul Centers, Inc. (BFS) reported an insider open‑market purchase. On 11/12/2025, the reporting person bought 3,348 shares of common stock at $29.862 per share.
Following the trade, the insider beneficially owned 50,566.916 shares directly, and 2,368.427 shares were held indirectly in a spouse’s IRA. The filer is listed as both Director and President & COO. Notes indicate recent increases from dividend reinvestment plan awards.
Saul Centers, Inc. (BFS) reported Q3 2025 results. Total revenue was $72.0 million, up from $67.3 million a year ago, driven by higher rental income. Net income available to common stockholders was $7.7 million, or $0.32 per share, compared with $11.7 million, or $0.48, last year as expenses rose.
Property net operating income was $49.8 million versus $49.0 million, while interest expense and amortization increased to $17.1 million from $12.2 million. For the nine months, revenue reached $214.7 million (from $200.9 million) and net income available to common stockholders was $22.6 million ($0.93 per share) versus $34.2 million ($1.42).
The company refinanced into a new $600.0 million credit facility (a $460.0 million revolver maturing July 30, 2029 and a $140.0 million term loan maturing July 28, 2028). At September 30, $330.0 million was outstanding with $101.1 million available; current spreads were 140 bps on the revolver and 135 bps on the term loan over SOFR. Principal debt totaled $1.612 billion. Construction in progress was $371.5 million, led by Hampden House at $256.3 million. Giant Food represented 4.7% of revenue for the nine months. Shares outstanding were 24,412,314 as of November 3, 2025; this is a baseline figure, not the amount being offered.
Saul Centers, Inc. (BFS) furnished a press release reporting its financial results for the quarter ended September 30, 2025. The company submitted the release as part of a Current Report on Form 8-K dated November 6, 2025.
The information was provided under Item 2.02 (Results of Operations and Financial Condition) and is expressly stated as furnished, not filed, which means it is not subject to Section 18 liability and is not incorporated by reference into other filings unless specifically stated. The press release is included as Exhibit 99.1, and the cover page interactive data file is embedded as Exhibit 104.
Clancy George Patrick Jr., a director of Saul Centers, Inc. (BFS), reported a sale of 16,915 shares of the issuer's common stock on 10/01/2025. The filing also records multiple outstanding director stock options (each for 2,500 shares across grant years 2016–2023) and a grant of 627.55 phantom shares on 10/01/2025 under the company’s Deferred Compensation Plan tied to the 2024 Stock Incentive Plan. The phantom-share entry shows a conversion reference price of $31.87 and reports 6,610.054 shares as the number of shares beneficially owned following reported derivative transactions, which includes 110.643 shares credited as dividend reinvestments on 7/31/2025. The form is a Section 16 disclosure of changes in beneficial ownership and director compensation; it documents a director sale plus continued equity-linked compensation and deferred/phantom holdings.
John E. Chapoton, a director of Saul Centers, Inc. (BFS), reported transactions on Form 4 showing his holdings and recent activity. The filing reports a disposition of 11,466.078 shares of common stock. It also shows outstanding director stock options (each for 2,500 shares) granted from 2016 through 2023 and exercisable into common stock, together with a new award of 509.884 phantom shares credited 10/01/2025 under the issuer's Deferred Compensation Plan and 2024 Stock Incentive Plan. The filing states the phantom shares convert to common stock under the plan terms and notes 526.084 phantom-share dividend reinvestments awarded July 31, 2025. The reporting person beneficially owns 28,955.498 shares following the reported transactions.