Form 4: Saul Centers SVP Judith K. Garland Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Judith K. Garland, SVP of Office and Retail at Saul Centers, Inc., reports acquisition and disposal of common stock and holdings of derivative securities.
Summary
- Judith K. Garland, a Senior Vice President at Saul Centers, Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
- On May 17, 2025, she disposed of 71 shares of common stock at a price of $34.39 per share due to tax withholding.
- On the same date, she acquired 10 shares of common stock at $34.39 per share as dividend equivalents on a restricted stock award that vested.
- Following these transactions, Garland directly owns 2,739 shares of Saul Centers common stock.
- She also holds employee stock options for 5,000 shares exercisable at $43.89 (granted 05/07/2021, expiring 05/07/2031), 5,000 shares exercisable at $47.9 (granted 05/13/2022, expiring 05/13/2032), and 10,000 shares exercisable at $33.79 (granted 05/12/2023, expiring 05/12/2033).
- Additionally, she holds performance shares for 800 shares (expiring 05/17/2029) and 1,500 shares (expiring 05/09/2030).
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing is a routine disclosure of stock transactions by an executive. There are no significant positive or negative implications.
Positives
- The acquisition of dividend equivalent shares indicates continued investment in the company by the reporting person.
Negatives
- The disposal of shares, although for tax purposes, represents a slight decrease in direct ownership.
Risks
- Fluctuations in the stock price could impact the value of the reported stock options and performance shares.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the transactions of a senior executive at Saul Centers, a real estate investment trust (REIT).
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The reported transactions are typical for executives receiving stock options and restricted stock as part of their compensation packages.
- Similar filings can be observed for executives at comparable REITs like Simon Property Group (SPG) and Regency Centers Corporation (REG).
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions are unlikely to have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 05/07/2021 | Grant date of employee stock options exercisable at $43.89, expiring 05/07/2031. |
| 05/13/2022 | Grant date of employee stock options exercisable at $47.9, expiring 05/13/2032. |
| 05/12/2023 | Grant date of employee stock options exercisable at $33.79, expiring 05/12/2033. |
| 05/17/2025 | Date of transaction: disposal of 71 shares and acquisition of 10 shares of common stock. |
| 05/17/2029 | Expiration date of performance shares for 800 shares. |
| 05/09/2030 | Expiration date of performance shares for 1,500 shares. |
| 05/07/2031 | Expiration date of employee stock options exercisable at $43.89. |
| 05/13/2032 | Expiration date of employee stock options exercisable at $47.9. |
| 05/12/2033 | Expiration date of employee stock options exercisable at $33.79. |
Keywords
Form 4, Beneficial Ownership, Saul Centers, Garland, Stock Options, Common Stock, Dividend Equivalents
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