Gregory Johnson withholds 11,794 BEN shares for taxes; total ownership 2.65M
Rhea-AI Filing Summary
Franklin Resources (BEN) insider transaction: The filing reports that Gregory E. Johnson, Executive Chairman and director, had 11,794 shares withheld and disposed of at $25.66 each on 08/31/2025 to satisfy tax withholding upon vesting of equity awards. After that withholding disposition, Mr. Johnson beneficially owns 2,653,074 shares in total, including 29,312 shares represented by unvested restricted stock units. Additional holdings include 7,576.3639 shares in a 401(k) plan and meaningful indirect stakes held via business and venture limited partnerships and family trusts.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine tax-withholding sale on vested awards; no indication of substantive change to ownership or control.
The reported transaction is a common administrative disposition where 11,794 shares were withheld to satisfy tax obligations tied to vested equity. The report clarifies total beneficial ownership of 2,653,074 shares, including 29,312 unvested RSUs, and outlines various indirect holdings via retirement plans, partnerships, spouse and trusts. This filing is informational and does not show an open-market sale for cash proceeds beyond tax withholding.
TL;DR: No material change to voting control; transaction is non-economic withholding related to vesting.
The disposition code and explanation indicate withholding to cover taxes rather than a deliberate liquidity event. The size of the withheld amount is small relative to total beneficial ownership, suggesting negligible impact on share float or voting concentrations. Indirect holdings and disclaimed interests are properly disclosed, supporting transparency for Section 16 compliance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, par value $.10 | 11,794 | $25.66 | $303K |
| holding | Common Stock, par value $.10 | -- | -- | -- |
| holding | Common Stock, par value $.10 | -- | -- | -- |
| holding | Common Stock, par value $.10 | -- | -- | -- |
| holding | Common Stock, par value $.10 | -- | -- | -- |
| holding | Common Stock, par value $.10 | -- | -- | -- |
Footnotes (1)
- Reflects payment of tax liability by withholding securities incident to the vesting of a security issued in accordance with Rule 16b-3. Of the amount of securities beneficially owned, 29,312 shares represent unvested restricted stock units. Reporting Person holds shares in the Franklin Templeton 401(k) Retirement Plan. Information is based on a plan statement as of April 11, 2025. Business limited partnership under control of Reporting Person. Shares held by Reporting Person's children or by Reporting Person as trustee for his children. Reporting Person disclaims beneficial ownership of such shares. Shares held by Reporting Person's spouse. Reporting Person disclaims beneficial ownership of such shares. Limited partnership under control of Reporting Person, and owned in part by irrevocable trusts for the benefit of Reporting Person's children. Reporting Person disclaims beneficial ownership of the children's trusts.
