FRIEDMAN JOEL ALBERT (Sr. V.P./Chief Acctng Officer) purchased 100.0% of their position (200.00 shares) of SAUL CENTERS, INC. on the open market

Open‑market purchase worth $3.7K — a major conviction buy. The strongest form of insider conviction signal.

P · 1 purchase

FRIEDMAN JOEL ALBERT

Filed: 9/30/2026ACC: 0001472420-26-000004

InsiderFRIEDMAN JOEL ALBERTCIK 1472420

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IssuerSAUL CENTERS, INC.CIK 907254

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

Since May 2019

+200.00

Net shares

Net buyer

$3.7K

Total acquired

Open market trades

1B · 0S

Total transactions

200.00 acquired

Non-Derivative Transactions1

Series E Preferred Stock

Direct

P · Purchase

+200.00

Price / share

$18.53

Trade value

$3.71K

% of position

100.0%

9/28/2026

200.00→400.00

Total

Net shares

+200.00

Net value

$3.71K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Series E Preferred Stock Direct	9/28/2026	P · Purchase	+200.00	$18.53	$3.71K	100.0%	200.00	400.00
Total			+200.00		$3.71K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)3

Common Stock

Indirect

Shares owned15.55K

Series D Preferred Stock

Direct

Shares owned100.00

Common Stock

Direct

Shares owned7.85K

Total

7.95K direct·15.55K indirect23.50K

Security Title	Shares Owned	Ownership Type
Common Stock	15.55K	Indirect
Series D Preferred Stock	100.00	Direct
Common Stock	7.85K	Direct
Total	23.50K	7.95K direct·15.55K indirect

Derivative Holdings (Post-Transaction)10

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

20K

Shares owned

20K

Exercise price

47.90

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

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

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

—

Performance Shares

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

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

—

Total

Underlying

119.80K

Owned

119.80K

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