Leffall LaSalle D. III 4

What Happened
LaSalle D. Leffall III, a director of Saul Centers, Inc. (BFS), was granted 2,000 shares of common stock on May 8, 2026. The award is reported at $0.00 per share (no cash paid); total immediate cash value reported as $0. This was an equity award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date and price: May 8, 2026 — 2,000 shares granted at $0.00 per share.
• Filing date: Form 4 filed May 11, 2026 (three days after the reported transaction).
• Shares owned after transaction: not specified in the supplied filing details.
• Footnote: Shares are restricted and vest in equal annual installments on the first three anniversaries of May 8, 2026, subject to continued service.
• Transaction type: Award/Grant (A). No 10b5-1 plan, tax withholding, or cashless sale noted in the provided information.

Context
Restricted share awards are a common form of director/executive compensation intended to align interests with shareholders; they do not represent an immediate market purchase or sale and only become transferable as they vest. Such grants are informational about compensation but, by themselves, are not a direct signal of insider buying/selling sentiment.