Pearson David Todd 4

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.