Pearson David Todd 4

4 · SAUL CENTERS, INC. · Filed Mar 12, 2026

AI-generated summary of this filing

Updated Mar 12, 2026

Saul Centers (BFS) President David Pearson Exercises Options, Receives Award

What Happened

David Todd Pearson, President & COO and a director of Saul Centers (BFS), reported transactions on 2026-03-11. He acquired 7,000 shares via exercise/conversion of derivatives (code M) at $0.00 and was granted 3,500 restricted shares (code A) at $0.00. The filing also shows two derivative disposals of 3,500 shares each (both code M, $0.00). Reported dollar price for all items is $0.00. Net reported change: +3,500 shares (10,500 acquired vs. 7,000 derivative disposals).

Key Details

Transaction date: 2026-03-11; all transactions reported at $0.00 per share.
Reported activity: 7,000 shares acquired via exercise/conversion (M); 3,500 shares granted as restricted stock (A); two disposals of 3,500 shares each (M).
Net reported increase: 3,500 shares.
Footnotes: dividend reinvestment plan awards increased balances earlier (F1, F3). Restricted shares are subject to vesting: F2 and F4 state 50% vest on May 17, 2029 and 50% on May 9, 2030. Options vesting schedule: 25% per year over four years (F5).
Filing timeliness: the form does not indicate a late-file flag.

Context

Code M denotes exercise or conversion of a derivative (e.g., option or RSU conversion); code A denotes an award/grant of restricted stock. The disposals reported as derivatives are part of the same exercise/conversion activity reported on the form (e.g., net settlement or conversion reporting). Restricted awards noted here are subject to multi-year vesting schedules, so those shares are not immediately freely tradable until vesting conditions are met.

Form 4

Period: 2026-03-11

DirectorPresident & COO

Transactions

Exercise/Conversion
Common Stock
[F2][F3]
2026-03-11+7,000→ 57,618.903 total
Award
Common Stock
[F4]
2026-03-11+3,500→ 61,118.903 total
Exercise/Conversion
Performance Shares
2026-03-11−3,500→ 10,500 total
Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (3,500 underlying)
Exercise/Conversion
Performance Shares
2026-03-11−3,500→ 14,000 total
Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (3,500 underlying)

Holdings

Common Stock
[F1]
(indirect: By Spouse)
2,413.873
Employee Stock Option
[F5]
Exercise: $59.41From: 2017-05-05Exp: 2027-05-05→ Common Stock (5,000 underlying)
5,000
Employee Stock Option
[F5]
Exercise: $49.46From: 2018-05-11Exp: 2028-05-11→ Common Stock (5,000 underlying)
5,000
Employee Stock Option
[F5]
Exercise: $55.71From: 2019-05-03Exp: 2029-05-03→ Common Stock (7,500 underlying)
7,500
Employee Stock Option
[F5]
Exercise: $50.00From: 2020-04-24Exp: 2030-04-24→ Common Stock (15,000 underlying)
15,000
Employee Stock Option
[F5]
Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (25,000 underlying)
25,000
Employee Stock Option
[F5]
Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (30,000 underlying)
30,000
Employee Stock Option
[F5]
Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Shares (30,000 underlying)
30,000
Director Stock Option
Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (2,500 underlying)
2,500

Footnotes (5)

[F1]Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 45.444 shares.
[F2]Represents restricted shares of Common Stock. Fifty percent (50%) of the shares vest on May 17, 2029, and the remaining fifty percent (50%) vest on May 9, 2030, subject to the reporting persons continued employment through the applicable vesting dates.
[F3]Balance increased by January 31, 2026 Dividend Reinvestment Plan award of 51.987 shares.
[F4]Represents additional restricted shares of Common Stock earned based on the achievement of performance criteria with respect to a performance period commencing on January 1, 2025 and ending on December 31, 2025. Fifty percent (50%) of the shares vest on May 17, 2029, and the remaining fifty percent (50%) vest on May 9, 2030, subject to the reporting persons continued employment through the applicable vesting dates.
[F5]The options vest 25% per year over four years from the date of grant.

Signature

/s/ Carlos L. Heard, by Power of Attorney|2026-03-12

1 file