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SAUL CENTERS, INC.·4

May 12, 8:56 PM ET

SAUL B FRANCIS II 4

Research Summary

AI-generated summary

Updated

Saul Centers (BFS) 10% Owner B. Francis Saul II Receives Awards

What Happened

  • B. Francis Saul II (identified as a 10% owner) received multiple awards from Saul Centers (BFS). The filing shows: (1) 20,000 shares granted on 2026-05-08 at $0.00 (award/restricted), (2) 268 shares acquired on 2026-05-09 at $35.19 each (total ~$9,431), and (3) a 20,000-share derivative award recorded on 2026-05-08 at $0.00. The $0.00 price indicates these were awards/restricted or derivative grants rather than open-market purchases.

Key Details

  • Transaction dates/prices: 05-08-2026 — 20,000 shares @ $0.00 (award); 05-09-2026 — 268 shares @ $35.19 (~$9,431); 05-08-2026 — 20,000 derivative shares @ $0.00 (award/derivative).
  • Shares owned after transaction: aggregate post-transaction holdings are not shown in the provided excerpt of the filing.
  • Relevant footnotes: F13 (restricted shares vest in equal installments over five years starting May 8, 2026); F15 (268 shares were dividend equivalents on a restricted stock award that vested May 9, 2026); F16 (derivative units may be limited‑partnership units convertible into common stock with conversion restrictions, incl. a 39.9% cap); F1/F2/F8 and others note many securities are held through affiliated entities or by spouse and may be deemed beneficially owned by the reporting person.
  • Filing timeliness: Form 4 was filed 2026-05-12 for transactions dated 05-08 and 05-09 — the filing appears timely (within required business-day window).

Context

  • These transactions are awards/grants (code A) — compensation or equity awards — not open-market buys or sales. Such awards often reflect compensation policy (vesting schedules, dividend equivalents) rather than a direct buying/selling signal by the insider.
  • The derivative award likely represents convertible LP units or phantom/RSU-style instruments subject to plan conversion rules and ownership caps; read the filing footnotes for conversion and vesting conditions. As a 10% owner, many of Saul’s holdings are held through affiliated entities and family accounts, which the filing discloses.