CLANCY GEORGE PATRICK JR 4

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.