Saul Centers (BFS) Exec VP Joel Friedman Buys 200 Shares

What Happened

• Joel Albert Friedman, Executive Vice President, Chief Accounting Officer and Treasurer of Saul Centers, bought 200 shares of Saul Centers (BFS) in open-market purchases on September 28, 2026. The filings show an average price of $18.53 per share for a total cash outlay of about $3,706. The purchase was reported under transaction code P (purchase).

Key Details

• Transaction date: 2026-09-28 (reported on Form 4 filed 2026-09-30)
• Prices: 100 shares at $18.60 and 100 shares at $18.46 (average $18.53)
• Shares acquired: 200; total value ≈ $3,706
• Shares owned after transaction: not specified in the provided extract (see the full Form 4 for total beneficial ownership)
• Footnotes of note:
  • F1: Reported position includes beneficial interest in the Saul Centers stock fund of a 401(k) plan (shares were distributed to individual 401(k) accounts effective Apr 1, 2009).
  • F2: Purchase breakdown by price (100 @ $18.60; 100 @ $18.46).
  • F3: Balance previously increased by a 21.68-share Dividend Reinvestment Plan award on July 31, 2026.
  • F4: Related options (if any) vest 25% per year over four years from grant date.
• Filing timeliness: Filed two days after the transaction date (not indicated as late).

Context

• This was a straightforward open-market purchase (code P). Purchases by insiders can be of interest to investors as one data point about insider activity, but they are not proof of future performance. The footnotes indicate some holdings are in a 401(k) fund and that options held by the reporting person follow a four-year vesting schedule; no option exercise or sale was reported in this transaction.