Collich John 4

What Happened
John Collich, Senior Vice President and Chief Acquisition & Development Officer of Saul Centers (BFS), executed multiple equity transactions on March 11, 2026. The filing shows he (1) acquired 600 shares via exercise/conversion of a derivative (code M), (2) received a 300-share grant/award (code A), and (3) had two derivative disposition entries of 300 shares each (both code M). All reported prices are $0, so the filing reports no cash value for these entries; the net change from the listed entries is +300 shares (600 + 300 − 300 − 300).

Key Details

• Transaction date: 2026-03-11; Filing date: 2026-03-12 (timely filing).
• Reported prices/values: $0 for each listed acquisition/disposition; filing does not report a cash value.
• Net effect in the reported transactions: +300 shares.
• Post-transaction total holdings: not disclosed in the provided extract.
• Footnotes of the filing: note dividend reinvestment plan awards (examples in filing: 54, 41, and 883 shares), restricted-share vesting schedules, and option vesting:
  • Restricted shares: 50% vest May 17, 2029; remaining 50% vest May 9, 2030 (subject to continued employment).
  • Performance-based restricted shares: same vesting schedule (performance period Jan 1–Dec 31, 2025).
  • Options: vest 25% per year over four years from grant.
• The filing shows two derivative dispositions but does not specify the reason (e.g., tax withholding, share surrender or sale).

Context

• These entries involve option exercise/conversion and a grant of restricted/performance shares. When filings show derivative "Disposed" lines, they often reflect shares withheld or transferred as part of exercise/settlement mechanics; this filing does not state the specific disposition mechanics.
• Purchases/awards (acquisitions) are generally viewed as more informative than routine disposals; here the net reported change is a modest increase (+300 shares).