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SAUL CENTERS, INC.·4

Mar 12, 5:24 PM ET

Guevara Bettina T. 4

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

Research Summary

AI-generated summary of this filing

Updated

Saul Centers (BFS) Exec VP Bettina Guevara Exercises Options, Receives Award

What Happened

Bettina T. Guevara, Executive Vice President and Chief Legal & Administrative Officer of Saul Centers (BFS), reported derivative and award transactions on 2026-03-11. She exercised/conversion of options for 1,000 shares at $0.00 (acquired) and received a grant/award of 500 restricted shares at $0.00 (acquired). The filing also shows two derivative "Disposed" entries of 500 shares each (total 1,000 shares) at $0.00, reported the next day on 2026-03-12. All reported prices are $0.00 and reported monetary value is $0.

Key Details

  • Transaction date(s): March 11, 2026; filing date: March 12, 2026 (timely next-day filing).
  • Reported transactions:
    • Exercise/conversion (Code M): +1,000 shares @ $0.00 (Acquired)
    • Grant/award (Code A): +500 restricted shares @ $0.00 (Acquired)
    • Exercise/conversion (Code M): -500 shares @ $0.00 (Disposed)
    • Exercise/conversion (Code M): -500 shares @ $0.00 (Disposed)
  • Net effect on reported activity: +500 shares acquired (1,500 acquired − 1,000 disposed), based on the transactions listed.
  • Shares owned after the transactions: not specified in the data provided.
  • Footnotes of note:
    • F1/F3: The 500 restricted shares (and additional performance-based restricted shares) vest 50% on May 17, 2029 and 50% on May 9, 2030, subject to continued employment.
    • F2: Prior balance was increased by dividend reinvestment awards totaling 13.306 shares (Oct 31, 2025 and Jan 31, 2026).
    • F4: Options vest 25% per year over four years from grant date.
  • The two "Disposed" derivative entries (total 1,000 shares) are reported as derivative disposals; such entries commonly reflect shares withheld or transferred in connection with option exercises (e.g., to satisfy tax withholding or exercise settlement), though the filing does not state the exact reason.

Context

  • These were option exercise and restricted-share award events, not open-market purchases or sales. Exercises and award grants are common executive compensation actions and do not by themselves indicate a change in market sentiment.
  • The filing appears timely (filed the day after the March 11 transactions).

Insider Transaction Report

Form 4
Period: 2026-03-11
SAUL CENTERS, INC.BFS
Guevara Bettina T.
Exec. VP /Chf Legal & Adm Off
Transactions
  • Exercise/Conversion

    Common Stock

    [F1][F2]
    2026-03-11+1,000→ 6,805.306 total
  • Award

    Common Stock

    [F3]
    2026-03-11+500→ 7,305.306 total
  • Exercise/Conversion

    Performance Shares

    2026-03-11−500→ 1,500 total
    Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (500 underlying)
  • Exercise/Conversion

    Performance Shares

    2026-03-11−500→ 2,000 total
    Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (500 underlying)
Holdings

  • Employee Stock Option

    [F4]
    Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (2,500 underlying)
    2,500

  • Employee Stock Option

    [F4]
    Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (3,000 underlying)
    3,000

  • Employee Stock Option

    [F4]
    Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (4,000 underlying)
    4,000
Footnotes (4)
  • [F1]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.
  • [F2]Balance increased by October 31, 2025 Dividend Reinvestment Plan award and January 31, 2026 award totaling 13.306 shares.
  • [F3]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.
  • [F4]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

Documents

1 file
  • 4
    wk-form4_1773350689.xmlPrimary

    FORM 4