CLANCY GEORGE PATRICK JR 4

What Happened
George P. Clancy Jr., a director of Saul Centers, Inc. (BFS), was granted 534.902 phantom shares on 2026-07-01. The award is reported at an imputed price of $37.39 per share, with a total value of $20,000. This was an award of derivative (phantom) shares under the company’s Deferred Compensation Plan, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-01; reported on Form 4 filed 2026-07-02.
• Transaction type/code: A — Grant/Award of derivative (phantom) shares.
• Amount: 534.902 phantom shares; price equivalent $37.39; aggregate value $20,000.
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnotes:
  • F1/F2 — These are phantom shares issued under the Issuer’s Deferred Compensation Plan (as amended May 17, 2024) and are convertible to common stock per the plan and the reporting person’s Deferred Fee Agreement. Older phantom shares remain governed by the prior plan terms.
  • F3 — The total includes 33.3049 phantom shares credited April 30, 2026 as dividend reinvestments on previously held phantom stock.
• Timeliness: Filed the next day (transaction 2026-07-01; filing 2026-07-02); no late filing indicated.

Context
Phantom shares are a type of deferred compensation that track the value of actual shares but are derivative until converted into common stock per plan rules. Such awards are routine for directors as compensation and do not represent an open-market buy/sell that signals immediate trading intent. The filing documents how and when these phantom shares may be converted under the Deferred Compensation Plan and the reporting person's Deferred Fee Agreement.