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 · 2 awards

HEARD CARLOS LAWRENCE

Filed: 5/13/2026ACC: 0001849267-26-000002

InsiderHEARD CARLOS LAWRENCECIK 1849267

→

IssuerSAUL CENTERS, INC.CIK 907254

Officer· Senior Vice President & CFO

Since Apr 2021

+3.89K

Net shares

Net buyer

$4.6K

Total sold

Open market trades

0B · 0S

Total transactions

4.02K acquired · 131.00 disposed

Non-Derivative Transactions3

Common Stock

Direct

A · Award

+2K

Price / share

—

Trade value

—

% of position

33.7%

5/8/2026

5.94K→7.94K

Common Stock

Direct

F · Tax Withholding

−131.00

Price / share

$35.19

Trade value

$4.61K

% of position

1.7%

5/9/2026

7.94K→7.81K

Common Stock

Direct

A · Award

+19.00

Price / share

$35.19

Trade value

$668.61

% of position

0.2%

5/9/2026

7.81K→7.82K

Total

Net shares

+1.89K

Net value

-$3.94K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	5/8/2026	A · Award	+2K	—	—	33.7%	5.94K	7.94K
Common Stock Direct	5/9/2026	F · Tax Withholding	−131.00	$35.19	$4.61K	1.7%	7.94K	7.81K
Common Stock Direct	5/9/2026	A · Award	+19.00	$35.19	$668.61	0.2%	7.81K	7.82K
Total			+1.89K		-$3.94K

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)1

Series D Preferred Stock

Direct

Shares owned4.50K

Total

4.50K direct4.50K

Security Title	Shares Owned	Ownership Type
Series D Preferred Stock	4.50K	Direct
Total	4.50K	4.50K direct

Derivative Holdings (Post-Transaction)5

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

43.89

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

15K

Shares owned

15K

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

—

Total

Underlying

42.80K

Owned

42.80K

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