Derivative exercise or conversion — not an open-market buy.
Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell
View the official recordSEC Form 4 — Statement of Changes in Beneficial OwnershipAll the details
Dates, kept separate
Transaction date
Mar 11, 2026
Reporting period
Not applicable
Filed with the SEC
Mar 12, 2026
OfficerOption exercise
Context
Classification
option exercise
Code M — exercise or conversion of a derivative security
Planned / mechanical clue
Footnote references dividend reinvestment
Only flagged when a footnote says so; never inferred
Source receipt
Record ID
0000907254-26-000009
Filed / recorded
Mar 12, 2026, 9:23 PM UTC
Added to OQRO
Oct 6, 2026, 10:14 PM UTC
Parser
form4-xml-v2
Data quality
Verified: identifiers matched exactly
Issuer
SAUL CENTERS, INC.
Issuer CIK
907254
Ticker
BFS
Reporting person
Zachary Maxwell Friedlis
Relationship
Officer
Officer title
Sr. VP-Director of Leasing
Security
Common Stock
Table
Non-derivative (Table I)
Transaction date
Mar 11, 2026
Transaction code
M
Shares / units
600
Price per share
$0.00
Acquired / disposed
Acquired (A)
Shares owned after
4,906.093
Ownership form
Direct
Amendment
No
Footnotes from the filing
Represents restricted shares of Common Stock. Fifty percent (50%) of the shares vest on May 17, 2029, and the remaining fifty percent (50%) vest on May 9, 2030, subject to the reporting persons continued employment through the applicable vesting dates.
Balance increased by July 31, 2025 Dividend Reinvestment Plan award, October 31, 2025 award and January 31, 2026 award totaling 61.074 shares