Hachey Donald A 4

What Happened

• Donald A. Hachey, SVP & Chief Construction Officer of Saul Centers, received 31 shares (awarded as dividend equivalents on a restricted stock award that vested) at $33.00 per share (value $1,023) on May 17, 2026. To cover tax liability, 93 shares were disposed/withheld at $33.00 per share (value $3,069) the same day.

Key Details

• Transaction dates and prices: May 17, 2026 — 31 shares acquired at $33.00 ($1,023); 93 shares disposed/withheld at $33.00 ($3,069).
• Type of transactions: A = Award/acquisition (dividend equivalents on vested restricted stock); F = payment of tax liability/tax withholding (disposition of shares).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: F1 — shares acquired were dividend equivalents on a restricted stock award that vested May 17, 2026. F2 — options referenced vest 25% per year over four years from grant date (general vesting schedule note).
• Filing timeliness: Report filed May 19, 2026 for May 17 transactions; appears to be filed within the typical 2-business-day window.

Context

• This is a routine vesting and tax-withholding transaction: 31 shares were granted as dividend equivalents when a restricted award vested, and 93 shares were surrendered/withheld to cover the resulting tax liability. Such withholding disposals are common and generally reflect tax mechanics rather than an independent market sale signal.