Godby Lori 4
4 · SAUL CENTERS, INC. · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
Saul Centers (BFS) Senior VP Lori Godby Receives Stock Awards
What Happened
Lori Godby, Senior Vice President — Residential at Saul Centers (BFS), was granted equity awards on May 8, 2026: 500 restricted shares and 500 performance-based restricted shares (one award reported as a derivative). On May 9, 2026 she disposed of 34 shares at $35.19 each to satisfy tax withholding obligations (proceeds ≈ $1,196).
Key Details
- Transaction dates: awards granted 2026-05-08; tax-withholding disposal 2026-05-09. Form filed 2026-05-12 (timely).
- Award amounts: 500 restricted shares (non-derivative) + 500 performance-based restricted shares (derivative) — total 1,000 shares granted at $0.00 (compensatory grants).
- Disposal for taxes: 34 shares sold @ $35.19 = $1,196 (transaction code F = tax withholding).
- Shares owned after the transactions: not disclosed in the excerpt provided.
- Footnotes of note:
- F1: The 500 restricted shares vest in equal annual installments on the first five anniversaries of May 8, 2026, subject to continued employment.
- F3: The performance-share award grants restricted shares in equal annual installments over five years but vests only upon achievement of FFO performance targets and is subject to cliff-vesting on May 8, 2031.
- F2: Describes a separate option vesting schedule (25% per year over four years); no option exercise was reported in this filing.
- Transaction codes: A = award/grant, F = tax withholding (disposition).
Context
These awards are compensatory equity grants (not open-market purchases). The small share disposition was a routine sale to cover tax withholding and does not necessarily indicate a change in sentiment. The performance award is contingent on future FFO targets and includes cliff-vesting, so the derivative portion may not vest unless performance conditions are met. The filing appears timely under Form 4 rules.
Insider Transaction Report
- Award
Common Stock
[F1]2026-05-08+500→ 1,916 total - Tax Payment
Common Stock
2026-05-09$35.19/sh−34$1,196→ 1,882 total - Award
Performance Shares
[F3]2026-05-08+500→ 500 totalExercise: $0.00From: 2031-05-08Exp: 2031-05-08→ Common Stock (500 underlying)
- 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) - 5,000
Employee Stock Option
[F2]Exercise: $33.79From: 2023-05-12Exp: 2033-05-12→ Common Stock (5,000 underlying) - 300
Performance Shares
Exercise: $0.00From: 2029-05-17Exp: 2029-05-17→ Common Stock (300 underlying) - 400
Performance Shares
Exercise: $0.00From: 2030-05-09Exp: 2030-05-09→ Common Stock (400 underlying)
Footnotes (3)
- [F1]Represents restricted shares of Common Stock. Such shares vest on the first five anniversaries of May 8, 2026 in equal annual installments, assuming continued employment.
- [F2]The options vest 25% per year over four years from the date of grant.
- [F3]The performance share award provides for the grant of restricted shares of Common Stock on each of the five anniversaries of May 8, 2026 in equal annual installments. The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 8, 2031, and (2) achievement of performance criteria relating to the Companys target Funds from Operations available to common stockholders and noncontrolling interests (FFO) measured against an FFO amount included in the budget established by the Board of Directors annually prior to the start of such calendar year.