[Form 4] FRANKLIN RESOURCES INC Insider Trading Activity

Franklin Resources (BEN) reported insider activity by its Chief Executive Officer and Director.

Rhea-AI Filing Summary

Franklin Resources (BEN) reported insider activity by its Chief Executive Officer and Director. On November 4, 2025, the reporting person acquired 306,552 shares of common stock at $22.59 per share. An additional 108,262 shares relate to prior performance‑based restricted stock units, with the Compensation Committee certifying achievement for the fiscal year ended September 30, 2025; these are scheduled to vest on December 1, 2025.

Following these transactions, direct beneficial ownership was 3,371,787.0046 shares. The filer also reported indirect holdings, including 2,642.5854 shares via a 401(k) plan and stakes held through family and partnership entities.

Insider Trade Summary

Grant/Award: 414,814 shares

Grant/Award 6 txns

Insider JOHNSON JENNIFER M

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.10	306,552	$22.59	$6.93M
Grant/Award	Common Stock, par value $.10	108,262	$0.00	$0.00
holding	Common Stock, par value $.10	--	--	--
holding	Common Stock, par value $.10	--	--	--
holding	Common Stock, par value $.10	--	--	--
holding	Common Stock, par value $.10	--	--	--

Holdings After Transaction: Common Stock, par value $.10 — 3,371,787.0046 shares (Direct); Common Stock, par value $.10 — 2,642.5854 shares (Indirect, By 401(k)); Common Stock, par value $.10 — 2,637,700 shares (Indirect, By Business Limited Partnership); Common Stock, par value $.10 — 595,649 shares (Indirect, By Children or As Trustee For Children); Common Stock, par value $.10 — 216,900 shares (Indirect, By Venture Limited Partnership)

Footnotes (7)

1. F1. During prior three years, the Reporting Person was granted certain restricted stock units subject to vesting over a three-year period based upon satisfaction of certain performance criteria. On November 4, 2025, the Issuer's Compensation Committee certified that certain performance criteria with respect to the Issuer's fiscal year ended September 30, 2025 were achieved, and therefore the amount of shares reported in Column 4 are scheduled to vest on December 1, 2025.
2. F2. Not applicable.
3. F3. Of the amount of securities beneficially owned, 587,199 shares represent unvested restricted stock unit awards (which excludes the unvested restricted stock units scheduled to vest on December 1, 2025 as reported in Footnote 1).
4. F4. Reporting Person holds shares in the Franklin Templeton 401(k) Retirement Plan. Information is based on a plan statement as of October 10, 2025.
5. F5. Business limited partnership under control of Reporting Person.
6. F6. Shares held by Reporting Person's children or by Reporting Person as trustee for her children. Reporting Person disclaims beneficial ownership of such shares.
7. F7. Limited partnership for the benefit 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.

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Accepted by SEC EDGAR 11/05/2025 - 05:44 PM Learn about SEC filing dates

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^*

JOHNSON JENNIFER M

(Last) (First) (Middle)

C/O FRANKLIN RESOURCES, INC.

ONE FRANKLIN PARKWAY

(Street)

SAN MATEO CA 94403-1906

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2025

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
Common Stock, par value $.10	11/04/2025		A		306,552	A	$22.59	3,263,525.0046	D
Common Stock, par value $.10	11/04/2025		A		108,262(1)	A	(2)	3,371,787.0046(3)	D
Common Stock, par value $.10								2,642.5854	I	By 401(k)(4)
Common Stock, par value $.10								2,637,700	I	By Business Limited Partnership(5)
Common Stock, par value $.10								595,649	I	By Children or As Trustee For Children(6)
Common Stock, par value $.10								216,900	I	By Venture Limited Partnership(7)

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

Explanation of Responses:

1. During prior three years, the Reporting Person was granted certain restricted stock units subject to vesting over a three-year period based upon satisfaction of certain performance criteria. On November 4, 2025, the Issuer's Compensation Committee certified that certain performance criteria with respect to the Issuer's fiscal year ended September 30, 2025 were achieved, and therefore the amount of shares reported in Column 4 are scheduled to vest on December 1, 2025.

2. Not applicable.

3. Of the amount of securities beneficially owned, 587,199 shares represent unvested restricted stock unit awards (which excludes the unvested restricted stock units scheduled to vest on December 1, 2025 as reported in Footnote 1).

4. Reporting Person holds shares in the Franklin Templeton 401(k) Retirement Plan. Information is based on a plan statement as of October 10, 2025.

5. Business limited partnership under control of Reporting Person.

6. Shares held by Reporting Person's children or by Reporting Person as trustee for her children. Reporting Person disclaims beneficial ownership of such shares.

7. Limited partnership for the benefit 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.

	/s/ Virginia Rosas, Attorney-in-Fact	11/05/2025
	** 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.