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 · 1 award

FRIEDMAN JOEL ALBERT

Filed: 5/19/2026ACC: 0001472420-26-000003

InsiderFRIEDMAN JOEL ALBERTCIK 1472420

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IssuerSAUL CENTERS, INC.CIK 907254

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

Since May 2019

-90.00

Net shares

Net seller

$4.3K

Total sold

Open market trades

0B · 0S

Total transactions

40.00 acquired · 130.00 disposed

Non-Derivative Transactions2

Common Stock

Direct

F · Tax Withholding

−130.00

Price / share

$33.00

Trade value

$4.29K

% of position

1.6%

5/17/2026

7.92K→7.79K

Common Stock

Direct

A · Award

+40.00

Price / share

$33.00

Trade value

$1.32K

% of position

0.5%

5/17/2026

7.79K→7.83K

Total

Net shares

−90.00

Net value

-$2.97K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	5/17/2026	F · Tax Withholding	−130.00	$33.00	$4.29K	1.6%	7.92K	7.79K
Common Stock Direct	5/17/2026	A · Award	+40.00	$33.00	$1.32K	0.5%	7.79K	7.83K
Total			−90.00		-$2.97K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)3

Common Stock

Indirect

Shares owned15.25K

Series E Preferred Stock

Direct

Shares owned200.00

Series D Preferred Stock

Direct

Shares owned100.00

Total

300.00 direct·15.25K indirect15.55K

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

Derivative Holdings (Post-Transaction)10

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

10K

Shares owned

10K

Exercise price

59.41

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

15K

Shares owned

15K

Exercise price

55.71

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20K

Shares owned

20K

Exercise price

47.90

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

20K

Shares owned

20K

Exercise price

33.79

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

Expiration

—

Exercise window

—

Performance Shares

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

119.80K

Owned

119.80K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option Direct	Common Stock	43.89	—	—	20K	20K
Employee Stock Option Direct	Common Stock	59.41	—	—	10K	10K
Employee Stock Option Direct	Common Stock	55.71	—	—	15K	15K
Employee Stock Option Direct	Common Stock	47.90	—	—	20K	20K
Performance Shares Direct	Common Stock	0	—	—	1.60K	1.60K
Employee Stock Option Direct	Common Stock	33.79	—	—	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	50	—	—	20K	20K
Performance Shares Direct	Common Stock	0	—	—	2K	2K
Total					119.80K	119.80K