Director Friedman boosts deferred fee stake at Franklin (NYSE: BEN)

Rhea-AI Filing Summary

Franklin Resources director Alexander S. Friedman reported an automatic credit of deferred director fees tied to the company’s stock. On February 3, 2026, he acquired 7,592.5926 units of deferred director’s fee equivalents at $27 each, bringing his total hypothetical deferred account to 46,008.515 units.

These deferred fees are tracked based on Franklin Resources’ stock performance, including reinvested dividends, and are scheduled to be paid in a single lump sum after his separation from service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Friedman Alexander S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Director's Fees (FRI)	7,592.593	$27.00	$205K

Holdings After Transaction: Deferred Director's Fees (FRI) — 46,008.515 shares (Direct)

Footnotes (1)

1. Not applicable. Exercisable and expiration dates assume the director's separation from service from Franklin Resources, Inc. and its subsidiaries occurs in the February following the director's 75th birthday. See footnote below. Represents a hypothetical investment account calculation of deferred Franklin Resources Inc.'s director's fees, under the 2006 Director Deferred Compensation Plan, based upon the performance of Franklin Resources Inc.'s stock (including reinvested dividends) payable in one payment following the director's separation from service from Franklin Resources, Inc. and its subsidiaries. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account(s) not based on the performance of Franklin Resources, Inc. stock effective as of the first day of any calendar quarter.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Friedman Alexander S

(Last) (First) (Middle)

C/O FRANKLIN RESOURCES, INC.

ONE FRANKLIN PARKWAY

(Street)

SAN MATEO CA 94403

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FRANKLIN RESOURCES INC [ BEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Director's Fees (FRI)	(1)	02/03/2026		A		7,592.5926		04/20/2046(2)	04/20/2046(2)	Common Stock, par value $.10	7,592.5926	$27	46,008.515	D(3)

Explanation of Responses:

1. Not applicable.

2. Exercisable and expiration dates assume the director's separation from service from Franklin Resources, Inc. and its subsidiaries occurs in the February following the director's 75th birthday. See footnote below.

3. Represents a hypothetical investment account calculation of deferred Franklin Resources Inc.'s director's fees, under the 2006 Director Deferred Compensation Plan, based upon the performance of Franklin Resources Inc.'s stock (including reinvested dividends) payable in one payment following the director's separation from service from Franklin Resources, Inc. and its subsidiaries. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account(s) not based on the performance of Franklin Resources, Inc. stock effective as of the first day of any calendar quarter.

	/s/ Virginia Rosas, Attorney-in-Fact	02/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did BEN director Alexander S. Friedman report?

Alexander S. Friedman reported an automatic credit of deferred director fees. He acquired 7,592.5926 units of deferred fee equivalents, linked to Franklin Resources’ stock performance, increasing his hypothetical deferred account balance to 46,008.515 units as of the February 3, 2026 transaction date.

How many deferred director fee units does BEN’s Alexander S. Friedman now hold?

After the February 3, 2026 transaction, Alexander S. Friedman holds 46,008.515 units in his deferred director’s fee account. These units are calculated based on Franklin Resources’ stock performance and reinvested dividends under the 2006 Director Deferred Compensation Plan, payable after his separation from service.

What are BEN deferred director’s fees (FRI) reported in this Form 4?

The deferred director’s fees (FRI) are a hypothetical investment account of Franklin Resources director fees. The account’s value is based on Franklin Resources’ stock performance, including reinvested dividends, and is scheduled to be paid in a single payment after the director’s separation from service.

At what price were BEN deferred director fee units credited to Alexander S. Friedman?

The 7,592.5926 deferred director fee units were credited at a reference price of $27 per unit. This valuation is used to calculate the hypothetical account under the 2006 Director Deferred Compensation Plan that tracks Franklin Resources’ stock performance over time.

When do Alexander S. Friedman’s BEN deferred director fees become payable?

The deferred director fees become payable in one lump-sum payment following Alexander S. Friedman’s separation from service with Franklin Resources and its subsidiaries. The plan assumes this separation occurs in the February after the director’s 75th birthday when determining exercisable and expiration dates.

How can BEN director Alexander S. Friedman adjust his deferred fee investments?

Alexander S. Friedman may transfer his deferred fee balance into alternative investment accounts not based on Franklin Resources’ stock. Such transfers can take effect as of the first day of any calendar quarter, as permitted under the 2006 Director Deferred Compensation Plan’s terms.