LAYCOCK WILLOUGHBY B. (VP-Residential Development) received a stock award from SAUL CENTERS, INC.

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

A · 1 award

LAYCOCK WILLOUGHBY B.

Filed: 3/12/2026ACC: 0000907254-26-000010

InsiderLAYCOCK WILLOUGHBY B.CIK 1771496

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IssuerSAUL CENTERS, INC.CIK 907254

DirectorOfficer· VP-Residential Development

Since Mar 2019

+100.00

Net shares

Net buyer

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

300.00 acquired · 200.00 disposed

Non-Derivative Transactions2

Common Stock

Direct

M · Option Exercise

+200.00

Price / share

—

Trade value

—

% of position

4.9%

3/11/2026

4.07K→4.27K

Common Stock

Direct

A · Award

+100.00

Price / share

—

Trade value

—

% of position

2.3%

3/11/2026

4.27K→4.37K

Total

Net shares

+300.00

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	3/11/2026	M · Option Exercise	+200.00	—	—	4.9%	4.07K	4.27K
Common Stock Direct	3/11/2026	A · Award	+100.00	—	—	2.3%	4.27K	4.37K
Total			+300.00		$0.00

Derivative Transactions2

Performance Shares

Direct

M · Option Exercise

Converts to

Common Stock

100.00 shares

−100.00

Strike price

Held after

300.00

Exercisable

—

3/11/2026

Performance Shares

Direct

M · Option Exercise

Converts to

Common Stock

100.00 shares

−100.00

Strike price

Held after

400.00

Exercisable

—

3/11/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Performance Shares Direct	Common Stock100.00 shares	3/11/2026	M · Option Exercise	−100.00	0	—	300.00
Performance Shares Direct	Common Stock100.00 shares	3/11/2026	M · Option Exercise	−100.00	0	—	400.00

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Indirect

Shares owned249.95

Total

249.95 indirect249.95

Security Title	Shares Owned	Ownership Type
Common Stock	249.95	Indirect
Total	249.95	249.95 indirect

Derivative Holdings (Post-Transaction)11

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

43.89

Expiration

—

Exercise window

—

Phantom Stock

Direct

Underlying security

Common Stock

Underlying shares

4.17K

Shares owned

4.17K

Exercise price

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

33.79

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

47.90

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

43.89

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

33.79

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Shares

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

47.90

Expiration

—

Exercise window

—

Director Stock Option

Direct

Underlying security

Common Stock

Underlying shares

2.50K

Shares owned

2.50K

Exercise price

55.71

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

Shares owned

Exercise price

55.71

Expiration

—

Exercise window

—

Employee Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

61.67K

Owned

61.67K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Director Stock Option Direct	Common Stock	43.89	—	—	2.50K	2.50K
Phantom Stock Direct	Common Stock		—	—	4.17K	4.17K
Director Stock Option Direct	Common Stock	50	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	33.79	—	—	10K	10K
Employee Stock Option Direct	Common Stock	47.90	—	—	10K	10K
Employee Stock Option Direct	Common Stock	43.89	—	—	10K	10K
Director Stock Option Direct	Common Stock	33.79	—	—	2.50K	2.50K
Director Stock Option Direct	Common Shares	47.90	—	—	2.50K	2.50K
Director Stock Option Direct	Common Stock	55.71	—	—	2.50K	2.50K
Employee Stock Option Direct	Common Stock	55.71	—	—	5K	5K
Employee Stock Option Direct	Common Stock	50	—	—	10K	10K
Total					61.67K	61.67K