Garland Judith K. 4
4 · SAUL CENTERS, INC. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Saul Centers (BFS) SVP Judith K. Garland Receives Award; 71 Shares Withheld
What Happened Judith K. Garland, Senior Vice President, Office and Retail at Saul Centers (BFS), received 19 shares at $33.00 each (total $627) as dividend equivalents when a restricted-stock award vested on May 17, 2026. On the same date 71 shares at $33.00 each (total $2,343) were disposed/withheld to satisfy tax withholding obligations. These transactions reflect award vesting and routine tax withholding rather than an open-market purchase or investment decision.
Key Details
- Transaction date: 2026-05-17; Price per share: $33.00.
- Acquired (A): 19 shares = $627 (dividend equivalents on vested restricted-stock award).
- Disposed/Withheld (F): 71 shares = $2,343 (tax withholding to cover liabilities).
- Net effect from these entries: -52 shares (19 acquired minus 71 withheld).
- Shares owned after transaction: not specified in the provided filing.
- Footnotes: F1 — shares were dividend equivalents on filer’s restricted-stock award that vested May 17, 2026; F2 — related options vest 25% per year over four years from grant date.
- Filing timeliness: Report filed May 19, 2026 for transactions dated May 17, 2026 (filed timely).
Context The 19 shares were issued as dividend equivalents on a restricted-stock award that vested — a common form of compensation for insiders. The 71-share disposition is a tax withholding event, not necessarily an open-market sale; such withholdings are routine when equity awards vest. Footnote F2 notes the filer’s options vest on a 4-year schedule, but this Form 4 reports the restricted-stock vesting and related tax withholding only.
Insider Transaction Report
- Tax Payment
Common Stock
2026-05-17$33.00/sh−71$2,343→ 4,825 total - Award
Common Stock
[F1]2026-05-17$33.00/sh+19$627→ 4,844 total
- 5,000
Employee Stock Option
[F2]Exercise: $43.89From: 2021-05-07Exp: 2031-05-07→ Common Stock (5,000 underlying) - 5,000
Employee Stock Option
[F2]Exercise: $47.90From: 2022-05-13Exp: 2032-05-13→ Common Stock (5,000 underlying) - 10,000
Employee Stock Option
[F2]Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (10,000 underlying) - 600
Performance Shares
Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (600 underlying) - 1,200
Performance Shares
Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (1,200 underlying) - 1,500
Performance Shares
Exercise: $0.00From: 2031-05-08Exp: 2031-05-08→ Common Stock (1,500 underlying)
Footnotes (2)
- [F1]Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 17, 2026.
- [F2]The options vest 25% per year over four years from the date of grant.