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: 5/19/2026ACC: 0001849267-26-000003

InsiderHEARD CARLOS LAWRENCECIK 1849267

→

IssuerSAUL CENTERS, INC.CIK 907254

Officer· Senior Vice President & CFO

Since Apr 2021

-91.00

Net shares

Net seller

$4.3K

Total sold

Open market trades

0B · 0S

Total transactions

40.00 acquired · 131.00 disposed

Non-Derivative Transactions2

Common Stock

Direct

F · Tax Withholding

−131.00

Price / share

$33.00

Trade value

$4.32K

% of position

1.7%

5/17/2026

7.82K→7.69K

Common Stock

Direct

A · Award

+40.00

Price / share

$33.00

Trade value

$1.32K

% of position

0.5%

5/17/2026

7.69K→7.73K

Total

Net shares

−91.00

Net value

-$3K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	5/17/2026	F · Tax Withholding	−131.00	$33.00	$4.32K	1.7%	7.82K	7.69K
Common Stock Direct	5/17/2026	A · Award	+40.00	$33.00	$1.32K	0.5%	7.69K	7.73K
Total			−91.00		-$3K

Derivative Transactions0

No derivative transactions reported

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)6

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

—

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

Shares owned

Exercise price

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

10K

Shares owned

10K

Exercise price

43.89

Expiration

—

Exercise window

—

Total

Underlying

44.80K

Owned

44.80K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Employee Stock Option Direct	Common Stock	47.90	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	1.60K	1.60K
Employee Stock Option Direct	Common Stock	33.79	—	—	15K	15K
Performance Shares Direct	Common Stock	0	—	—	2K	2K
Performance Shares Direct	Common Stock	0	—	—	1.20K	1.20K
Employee Stock Option Direct	Common Stock	43.89	—	—	10K	10K
Total					44.80K	44.80K