X0609 4 2026-05-17 0 0000907254 SAUL CENTERS, INC. BFS 0001771496 Laycock Willoughby B. false 7501 WISCONSIN AVE. SUITE 1400 BETHESDA MD 20814 1 1 0 0 SVP-Res. Design/Mrkt Research 0 Common Stock 249.952 I Spouse-401K Common Stock 2026-05-17 4 F 0 35 33 D 4804.068 D Common Stock 2026-05-17 4 A 0 10 33 A 4814.068 D Employee Stock Option 55.71 2019-05-03 2029-05-03 Common Stock 5000 5000 D Director Stock Option 55.71 2019-05-03 2029-05-03 Common Stock 2500 2500 D Employee Stock Option 50 2020-04-24 2030-04-24 Common Stock 10000 10000 D Director Stock Option 50 2020-04-24 2030-04-24 Common Stock 2500 2500 D Employee Stock Option 43.89 2021-05-07 2031-05-07 Common Stock 10000 10000 D Director Stock Option 43.89 2021-05-07 2031-05-07 Common Stock 2500 2500 D Employee Stock Option 47.90 2022-05-13 2032-05-13 Common Stock 10000 10000 D Director Stock Option 47.90 2022-05-13 2032-05-13 Common Shares 2500 2500 D Employee Stock Option 33.79 2023-05-12 2033-05-12 Common Stock 10000 10000 D Phantom Stock Common Stock 4243.322 4243.322 D Director Stock Option 33.79 2023-05-12 2033-05-12 Common Stock 2500 2500 D Performance Shares 0 2029-05-17 2029-05-17 Common Stock 300 300 D Performance Shares 0 2030-05-09 2030-05-09 Common Stock 400 400 D Performance Shares 0 2031-05-08 2031-05-08 Common Stock 500 500 D Shares acquired in an exempt transaction as dividend equivalents on filers restricted stock award, which vested on May 17, 2026. The options vest 25% per year over four years from the date of grant. New phantom shares are issuable pursuant to the Issuers Deferred Compensation Plan for Directors, as amended and restated effective May 17, 2024 (the Deferred Compensation Plan), under its 2024 Stock Incentive Plan. Phantom shares issued prior to May 17, 2024, continue to be subject to the terms of the Issuers deferred compensation plan for directors in effect prior to the amendment and restatement of the Deferred Compensation Plan. The conversion of phantom shares issued on or after May 17, 2024, into shares of the Issuers common stock is governed pursuant to terms of the Issuers Deferred Compensation Plan under its 2024 Stock Plan and the reporting persons Deferred Fee Agreement. The conversion of phantom shares issued prior to May 17, 2024, into shares of the Issuers common stock is governed pursuant to the terms of the Issuers deferred compensation plan for directors in effect prior to the amendment and restatement of the Deferred Compensation Plan and the reporting persons Deferred Fee Agreement. /s/ Carlos L. Heard, by Power of Attorney 2026-05-19