FRIEDMAN JOEL ALBERT (Sr. V.P./Chief Acctng Officer) received a stock award from SAUL CENTERS, INC.

Compensation award — not an open‑market transaction. Less informative as a directional signal.

A · 2 awards

FRIEDMAN JOEL ALBERT

Filed: 5/13/2026ACC: 0001472420-26-000002

InsiderFRIEDMAN JOEL ALBERTCIK 1472420

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IssuerSAUL CENTERS, INC.CIK 907254

Officer· Sr. V.P./Chief Acctng Officer

Since May 2019

+3.90K

Net shares

Net buyer

$4.6K

Total sold

Open market trades

0B · 0S

Total transactions

4.03K acquired · 131.00 disposed

Non-Derivative Transactions3

Common Stock

Direct

A · Award

+2K

Price / share

—

Trade value

—

% of position

33.2%

5/8/2026

6.02K→8.02K

Common Stock

Direct

F · Tax Withholding

−131.00

Price / share

$35.19

Trade value

$4.61K

% of position

1.6%

5/9/2026

8.02K→7.89K

Common Stock

Direct

A · Award

+26.00

Price / share

$35.19

Trade value

$914.94

% of position

0.3%

5/9/2026

7.89K→7.92K

Total

Net shares

+1.90K

Net value

-$3.69K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	5/8/2026	A · Award	+2K	—	—	33.2%	6.02K	8.02K
Common Stock Direct	5/9/2026	F · Tax Withholding	−131.00	$35.19	$4.61K	1.6%	8.02K	7.89K
Common Stock Direct	5/9/2026	A · Award	+26.00	$35.19	$914.94	0.3%	7.89K	7.92K
Total			+1.90K		-$3.69K

Derivative Transactions1

Performance Shares

Direct

A · Award

Converts to

Common Stock

2K shares

+2K

Strike price

Held after

Exercisable

—

5/8/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Performance Shares Direct	Common Stock2K shares	5/8/2026	A · Award	+2K	0	—	2K

Non-Derivative Holdings (Post-Transaction)3

Series E Preferred Stock

Direct

Shares owned200.00

Common Stock

Indirect

Shares owned15.25K

Series D Preferred Stock

Direct

Shares owned100.00

Total

300.00 direct·15.25K indirect15.55K

Security Title	Shares Owned	Ownership Type
Series E Preferred Stock	200.00	Direct
Common Stock	15.25K	Indirect
Series D Preferred Stock	100.00	Direct
Total	15.55K	300.00 direct·15.25K indirect

Derivative Holdings (Post-Transaction)9

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

15K

Shares owned

15K

Exercise price

55.71

Expiration

—

Exercise window

—

Performance Shares

Direct

Underlying security

Common Stock

Underlying shares

1.60K

Shares owned

1.60K

Exercise price

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

59.41

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20K

Shares owned

20K

Exercise price

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20K

Shares owned

20K

Exercise price

47.90

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

49.46

Expiration

—

Exercise window

—

Performance Shares

Direct

Underlying security

Common Stock

Underlying shares

1.20K

Shares owned

1.20K

Exercise price

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20K

Shares owned

20K

Exercise price

43.89

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20K

Shares owned

20K

Exercise price

33.79

Expiration

—

Exercise window

—

Total

Underlying

117.80K

Owned

117.80K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option Direct	Common Stock	55.71	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	1.60K	1.60K
Employee Stock Option Direct	Common Stock	59.41	—	—	10K	10K
Employee Stock Option Direct	Common Stock	50	—	—	20K	20K
Employee Stock Option Direct	Common Stock	47.90	—	—	20K	20K
Employee Stock Option Direct	Common Stock	49.46	—	—	10K	10K
Performance Shares Direct	Common Stock	0	—	—	1.20K	1.20K
Employee Stock Option Direct	Common Stock	43.89	—	—	20K	20K
Employee Stock Option Direct	Common Stock	33.79	—	—	20K	20K
Total					117.80K	117.80K