CLANCY GEORGE PATRICK JR 4

4 · SAUL CENTERS, INC. · Filed May 11, 2026

AI-generated summary of this filing

Updated May 11, 2026

Saul Centers (BFS) Director George Clancy Receives 2,000-Share Award

What Happened

Director George Patrick Clancy Jr. was granted 2,000 shares of Saul Centers, Inc. common stock on May 8, 2026. The Form 4 reports the acquisition as an award (transaction code A) at $0.00 per share (total cash paid = $0). This is a grant of restricted shares rather than an open-market purchase or sale.

Key Details

Transaction date: 2026-05-08; Filing date: 2026-05-11 (Form 4 filed within required period).
Shares granted: 2,000 restricted shares; reported acquisition price: $0.00/share.
Shares owned after transaction: Not specified in the provided excerpt of the filing.
Vesting: Per footnote F1, the restricted shares vest in equal annual installments over the first three anniversaries of May 8, 2026, subject to continued service.
Additional plan notes: Footnotes F2–F3 explain these awards are tied to the Issuer’s Deferred Compensation Plan for Directors (2024 Stock Incentive Plan) and describe conversion rules for “phantom” shares; F4 notes 77.495 shares were previously awarded April 30, 2026 as dividend reinvestment on phantom stock.
Transaction type: Award/grant (A). No sale, purchase, or option exercise occurred.

Context

This is a compensation-related grant to a director (restricted stock/awarded shares), not an open-market buy or sale, and therefore is common corporate compensation rather than a clear bullish or bearish trading signal.
For derivative/phantom-share aspects, the filing indicates phantom shares under the Deferred Compensation Plan can convert into common shares per plan and the director’s Deferred Fee Agreement; details of conversion timing and tax treatment are governed by those agreements.

Form 4

Period: 2026-05-08

Director

Transactions

Holdings

Director Stock Option
Exercise: $59.41From: 2017-05-05Exp: 2027-05-05→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $49.46From: 2018-05-11Exp: 2028-05-11→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $55.71From: 2019-05-03Exp: 2029-05-03→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $50.00From: 2020-04-24Exp: 2030-04-24→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (2,500 underlying)
2,500
Director Stock Option
Exercise: $33.79From: 2023-05-09Exp: 2033-05-12→ Common Stock (2,500 underlying)
2,500
Phantom Stock
[F2][F3][F4]
→ Common Stock (4,452.024 underlying)
4,452.024

Footnotes (4)

[F1]Represents restricted shares of Common Stock. Such shares vest on the first three anniversaries of May 8, 2026 in equal annual installments, assuming continued service.
[F2]New phantom shares are issuable pursuant to the Issuers Deferred Compensation Plan for Directors, as amended and restated effective May 17, 2024 (the Deferred Compensation Plan), under its 2024 Stock Incentive Plan. Phantom shares issued prior to May 17, 2024, continue to be subject to the terms of the Issuers deferred compensation plan for directors in effect prior to the amendment and restatement of the Deferred Compensation Plan.
[F3]The conversion of phantom shares issued on or after May 17, 2024, into shares of the Issuers common stock is governed pursuant to terms of the Issuers Deferred Compensation Plan under its 2024 Stock Plan and the reporting persons Deferred Fee Agreement. The conversion of phantom shares issued prior to May 17, 2024, into shares of the Issuers common stock is governed pursuant to the terms of the Issuers deferred compensation plan for directors in effect prior to the amendment and restatement of the Deferred Compensation Plan and the reporting persons Deferred Fee Agreement.
[F4]Includes 77.495 shares awarded April 30, 2026 as dividend reinvestments on shares of phantom stock held by the reporting person pursuant to the Deferred Compensation Plan.

Signature

/s/ Carlos L. Heard, by Power of Attorney|2026-05-11

1 file