Friedman Joel Albert 4/A
4/A · SAUL CENTERS, INC. · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
Saul Centers (BFS) Exec VP Joel Friedman Receives 27-Share Award
What Happened
Joel A. Friedman, Executive Vice President, Chief Accounting Officer & Treasurer of Saul Centers (BFS), acquired 27 shares through an award on May 17, 2025. The shares were recorded at $34.39 each, totaling about $929. This was an acquisition via award/dividend equivalents tied to a restricted stock award that vested—not an open-market purchase.
Key Details
- Transaction date and price: 2025-05-17 — 27 shares at $34.39 per share (total ≈ $929). (Transaction code: A = Award/Acquisition.)
- Nature of award: Shares were dividend equivalents on the filer’s restricted stock award which vested on May 17, 2025 (Footnote F2).
- Beneficial ownership reporting: The filing notes the reported shares reflect the reporting person’s beneficial interest in the Saul Centers stock fund of a 401(k) plan (Footnote F1).
- Amendment and filing timeliness: This is an amended Form 4 filed 2026-02-05 correcting the post-transaction beneficial ownership balance (Footnote F3). The filing was late (transactionTimeliness = 'L'); the amendment corrects an administrative error in Column 5.
- Related vesting schedule note: A footnote states options vest 25% per year over four years from grant (Footnote F4), though this transaction was a dividend-equivalent award on restricted stock.
Context
This transaction represents shares issued on vesting (dividend equivalents), not a market purchase or sale, and is typically routine compensation/plan activity. The dollar amount is small (~$929), so it is unlikely to materially affect insider ownership. Because the Form 4 was amended and filed late, check the amended SEC filing for the corrected post-transaction beneficial ownership total if you need the current holding balance.
Insider Transaction Report
- Award
Common Stock
[F2][F3]2025-05-17$34.39/sh+27$929→ 4,775.57 total
- 200
Series E Preferred Stock
- 100
Series D Preferred Stock
- 14,178(indirect: By 401(k))
Common Stock
[F1] - 10,000
Employee Stock Option
[F4]Exercise: $57.74From: 2016-05-06Exp: 2026-05-06→ Common Stock (10,000 underlying) - 10,000
Employee Stock Option
[F4]Exercise: $59.41From: 2017-05-05Exp: 2027-05-05→ Common Stock (10,000 underlying) - 10,000
Employee Stock Option
[F4]Exercise: $49.46From: 2018-05-11Exp: 2028-05-11→ Common Stock (10,000 underlying) - 15,000
Employee Stock Option
[F4]Exercise: $55.71From: 2019-05-03Exp: 2029-05-03→ Common Stock (15,000 underlying) - 20,000
Employee Stock Option
[F4]Exercise: $50.00From: 2020-04-24Exp: 2030-04-24→ Common Stock (20,000 underlying) - 20,000
Employee Stock Option
[F4]Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (20,000 underlying) - 20,000
Employee Stock Option
[F4]Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (20,000 underlying) - 20,000
Employee Stock Option
[F4]Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (20,000 underlying) - 1,600
Performance Shares
Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (1,600 underlying) - 2,000
Performance Shares
Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (2,000 underlying)
Footnotes (4)
- [F1]Effective April 1, 2009, shares formerly held by the B.F. Saul Company Employees' Profit Sharing Reinvestment Trust were distributed to the individual 401(k) plan accounts of participants. The number of shares reported represents the reporting person's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan.
- [F2]Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 17, 2025.
- [F3]This amendment corrects an administrative error in Column 5 of Table I in the original Form 4. The reported post-transaction beneficial ownership balance was incorrect. All transaction details in the original filing were accurate.
- [F4]The options vest 25% per year over four years from the date of grant.