X0609 4 2026-05-08 0 0000907254 SAUL CENTERS, INC. BFS 0001472420 Friedman Joel Albert false 7501 WISCONSIN AVENUE 15TH FLOOR BETHESDA MD 20814 0 1 0 0 Exec VP, CAO & Treasurer 0 Common Stock 15248 I 401K Series E Preferred Stock 200 D Series D Preferred Stock 100 D Common Stock 2026-05-08 4 A 0 2000 0 A 8020.7111 D Common Stock 2026-05-09 4 F 0 131 35.19 D 7889.7111 D Common Stock 2026-05-09 4 A 0 26 35.19 A 7915.7111 D Employee Stock Option 59.41 2017-05-05 2027-05-05 Common Stock 10000 10000 D Employee Stock Option 49.46 2018-05-11 2028-05-11 Common Stock 10000 10000 D Employee Stock Option 55.71 2019-05-03 2029-05-03 Common Stock 15000 15000 D Employee Stock Option 50 2020-04-24 2030-04-24 Common Stock 20000 20000 D Employee Stock Option 43.89 2021-05-07 2031-05-07 Common Stock 20000 20000 D Employee Stock Option 47.90 2022-05-13 2032-05-13 Common Stock 20000 20000 D Employee Stock Option 33.79 2023-05-12 2033-05-12 Common Stock 20000 20000 D Performance Shares 0 2029-05-17 2029-05-17 Common Stock 1200 1200 D Performance Shares 0 2030-05-09 2030-05-09 Common Stock 1600 1600 D Performance Shares 0 2026-05-08 4 A 0 2000 0 A 2031-05-08 2031-05-08 Common Stock 2000 2000 D Effective April 1, 2009, shares formerly held by the B.F. Saul Company Employees' Profit Sharing Reinvestment Trust were distributed to the individual 401(k) plan accounts of participants. The number of shares reported represents the reporting person's beneficial ownership interest in the Saul Centers stock fund of the 401(k) plan. 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. Balance increased by April 30, 2026 Dividend Reinvestment Plan award of 10.8021 shares. Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 9, 2026. The options vest 25% per year over four years from the date of grant. 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. /s/ Carlos L. Heard, by Power of Attorney 2026-05-12