HEARD CARLOS LAWRENCE (Senior Vice President & CFO) received a stock award from SAUL CENTERS, INC.

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

A · 1 award

HEARD CARLOS LAWRENCE

Filed: 5/21/2025ACC: 0000907254-25-000077

InsiderHEARD CARLOS LAWRENCECIK 1849267

→

IssuerSAUL CENTERS, INC.CIK 907254

Officer· Senior Vice President & CFO

Since Apr 2021

-111.00

Net shares

Net seller

$4.5K

Total sold

Open market trades

0B · 0S

Total transactions

20.00 acquired · 131.00 disposed

Non-Derivative Transactions2

Common Stock

Direct

F · Tax Withholding

−131.00

Price / share

$34.39

Trade value

$4.51K

% of position

2.7%

5/17/2025

4.83K→4.70K

Common Stock

Direct

A · Award

+20.00

Price / share

$34.39

Trade value

$687.80

% of position

0.4%

5/17/2025

4.70K→4.72K

Total

Net shares

−111.00

Net value

-$3.82K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	5/17/2025	F · Tax Withholding	−131.00	$34.39	$4.51K	2.7%	4.83K	4.70K
Common Stock Direct	5/17/2025	A · Award	+20.00	$34.39	$687.80	0.4%	4.70K	4.72K
Total			−111.00		-$3.82K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)1

Series D Preferred Stock

Direct

Shares owned700.00

Total

700.00 direct700.00

Security Title	Shares Owned	Ownership Type
Series D Preferred Stock	700.00	Direct
Total	700.00	700.00 direct

Derivative Holdings (Post-Transaction)5

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

15K

Shares owned

15K

Exercise price

33.79

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

43.89

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

15K

Shares owned

15K

Exercise price

47.90

Expiration

—

Exercise window

—

Performance Shares

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

43.60K

Owned

43.60K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option Direct	Common Stock	33.79	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	1.60K	1.60K
Employee Stock Option Direct	Common Stock	43.89	—	—	10K	10K
Employee Stock Option Direct	Common Stock	47.90	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	2K	2K
Total					43.60K	43.60K