Form 4: Saul Centers Inc. Executive Laycock Reports Acquisition of Performance Shares
SEC Form 4 Filing
Willoughby B. Laycock, SVP of Research Design/Market Research at Saul Centers, Inc., reports acquiring 500 performance shares and disposing of 4,101.068 common stock shares on May 9, 2025.
Summary
- On May 9, 2025, Willoughby B. Laycock, a Senior Vice President at Saul Centers, Inc., acquired 500 performance shares.
- The same day, Laycock disposed of 4,101.068 shares of common stock.
- Laycock also indirectly owns 249.952 shares of common stock through a spouse's 401(k).
- Laycock holds multiple employee and director stock options with various exercise prices and expiration dates.
- Laycock also holds 3,934.656 phantom stock shares.
- The performance shares vest annually over five years, contingent on continued employment and achievement of performance criteria related to Funds from Operations (FFO).
Sentiment
Score: 5
Explanation: This is a routine filing of insider trading activity. It doesn't indicate overwhelmingly positive or negative sentiment, but rather provides factual information about stock transactions.
Future Outlook
The performance share award provides for the grant of restricted shares of Common Stock on each of the five anniversaries of May 9, 2025 in equal annual installments. The number of restricted shares of such grant that vest, if any, is (i) subject to cliff-vesting on May 9, 2030, and (2) achievement of performance criteria relating to the Company's 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.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into insider transactions, allowing investors to monitor the actions of company executives and directors.
Stakeholder Impact
- The vesting of performance shares is tied to the company's FFO, aligning executive compensation with shareholder value.
Key Dates
| Date | Description |
|---|---|
| 05/03/2019 | Date of grant for employee and director stock options with an exercise price of $55.71 and an expiration date of 05/03/2029. |
| 04/24/2020 | Date of grant for employee and director stock options with an exercise price of $50 and an expiration date of 04/24/2030. |
| 05/07/2021 | Date of grant for employee and director stock options with an exercise price of $43.89 and an expiration date of 05/07/2031. |
| 05/13/2022 | Date of grant for employee and director stock options with an exercise price of $47.9 and an expiration date of 05/13/2032. |
| 05/12/2023 | Date of grant for employee and director stock options with an exercise price of $33.79 and an expiration date of 05/12/2033. |
| 05/17/2024 | Effective date of the amended and restated Deferred Compensation Plan for Directors. |
| 04/30/2025 | Date of dividend reinvestments on shares of phantom stock held by the reporting person pursuant to the Deferred Compensation Plan. |
| 05/09/2025 | Date of transaction: acquisition of 500 performance shares and disposal of 4,101.068 shares of common stock. |
| 05/09/2025 | First anniversary of the performance share award, with equal annual installments vesting over the next four years. |
| 05/09/2030 | Cliff-vesting date for the performance share award, subject to achievement of performance criteria. |
Keywords
Form 4, Beneficial Ownership, Stock Options, Performance Shares, Saul Centers Inc., Laycock, BFS, Executive Compensation, Insider Trading
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