HEARD CARLOS LAWRENCE (Senior Vice President & CFO) purchased 12.5% of their position (500.00 shares) of SAUL CENTERS, INC. on the open market

Open‑market purchase worth $10.3K — a moderate purchase. The strongest form of insider conviction signal.

P · 1 purchase

HEARD CARLOS LAWRENCE

Filed: 4/1/2026ACC: 0001849267-26-000001

InsiderHEARD CARLOS LAWRENCECIK 1849267

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IssuerSAUL CENTERS, INC.CIK 907254

Officer· Senior Vice President & CFO

Since Apr 2021

+500.00

Net shares

Net buyer

$10.3K

Total acquired

Open market trades

1B · 0S

Total transactions

500.00 acquired

Non-Derivative Transactions1

Series D Preferred Stock

Direct

P · Purchase

+500.00

Price / share

$20.60

Trade value

$10.30K

% of position

12.5%

3/30/2026

4K→4.50K

Total

Net shares

+500.00

Net value

$10.30K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Series D Preferred Stock Direct	3/30/2026	P · Purchase	+500.00	$20.60	$10.30K	12.5%	4K	4.50K
Total			+500.00		$10.30K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Direct

Shares owned5.93K

Total

5.93K direct5.93K

Security Title	Shares Owned	Ownership Type
Common Stock	5.93K	Direct
Total	5.93K	5.93K direct

Derivative Holdings (Post-Transaction)5

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

15K

Shares owned

15K

Exercise price

47.90

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

15K

Shares owned

15K

Exercise price

33.79

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

43.89

Expiration

—

Exercise window

—

Total

Underlying

42.80K

Owned

42.80K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Performance Shares Direct	Common Stock	0	—	—	1.60K	1.60K
Employee Stock Option Direct	Common Stock	47.90	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	1.20K	1.20K
Employee Stock Option Direct	Common Stock	33.79	—	—	15K	15K
Employee Stock Option Direct	Common Stock	43.89	—	—	10K	10K
Total					42.80K	42.80K