Franklin Resources (NYSE: BEN) awards 229,850 shares to Co-President

Rhea-AI Filing Summary

Nicholls Matthew reported acquisition or exercise transactions in this Form 4 filing.

Matthew Nicholls, Co-President, CFO & COO of Franklin Resources, received a grant of 229,850 shares of common stock on July 21, 2026 at $32.63 per share. After this award, he directly beneficially owns 778,797 shares, including 450,879 unvested restricted stock units.

Insider Trade Summary

Net Buyer: 229,850 shares

Net Buy 1 txn

Insider Nicholls Matthew

Role Co-President, CFO & COO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.10 F1	229,850	$32.63	$7.50M

Holdings After Transaction: Common Stock, par value $.10 — 778,797 shares (Direct)

Footnotes (1)

1. F1. Of the amount of securities beneficially owned, 450,879 shares represent unvested restricted stock units.

Key Figures

Shares granted: 229,850 shares Grant price: $32.63 per share Shares owned after grant: 778,797 shares +1 more

4 metrics

Shares granted 229,850 shares Grant of common stock to Matthew Nicholls on July 21, 2026

Grant price $32.63 per share Per-share valuation for the 229,850-share equity award

Shares owned after grant 778,797 shares Direct beneficial ownership of Matthew Nicholls after the transaction

Unvested RSUs included 450,879 shares Portion of beneficially owned shares representing unvested restricted stock units

Key Terms

restricted stock units, beneficially owned, Common Stock, par value $.10

3 terms

restricted stock units financial

"450,879 shares represent unvested restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

beneficially owned financial

"Of the amount of securities beneficially owned, 450,879 shares..."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Common Stock, par value $.10 financial

"Security title: Common Stock, par value $.10"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/23/2026 - 04:30 PM Accepted by SEC EDGAR 07/23/2026 - 04:30 PM Learn about SEC filing dates

FAQ

What equity award did Franklin Resources (BEN) grant to Matthew Nicholls?

Franklin Resources granted 229,850 shares of common stock to Co-President, CFO & COO Matthew Nicholls on July 21, 2026. The transaction is reported as a grant or award acquisition rather than an open-market purchase.

At what price was Matthew Nicholls’ BEN equity award valued?

The 229,850-share equity award to Matthew Nicholls was valued at $32.63 per share. This price reflects the per-share valuation used for reporting the grant of Franklin Resources common stock on July 21, 2026.

How many Franklin Resources (BEN) shares does Nicholls own after this grant?

Following the grant, Matthew Nicholls directly beneficially owns 778,797 Franklin Resources shares. This total includes both vested holdings and a significant portion represented by unvested restricted stock units as disclosed in the filing footnote.

How many of Nicholls’ BEN holdings are unvested restricted stock units?

Out of the 778,797 shares beneficially owned by Matthew Nicholls, 450,879 shares represent unvested restricted stock units. This indicates that a substantial part of his reported ownership is tied to equity awards that are still subject to vesting conditions.

Was the July 21, 2026 BEN transaction a purchase or a grant for Nicholls?

The July 21, 2026 transaction for Matthew Nicholls is reported as a grant, award, or other acquisition of 229,850 common shares, coded “A,” rather than a market purchase. It increases his direct beneficial ownership in Franklin Resources.

Does this BEN Form 4 indicate any derivatives or option exercises for Nicholls?

No derivative transactions or option exercises are reported for Matthew Nicholls in this Form 4. The filing shows only a single non-derivative stock grant of 229,850 common shares and notes unvested restricted stock units within his beneficial ownership.

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^*

Nicholls Matthew

(Last) (First) (Middle)

C/O FRANKLIN RESOURCES, INC.

ONE FRANKLIN PARKWAY

(Street)

SAN MATEO CALIFORNIA 94403

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-President, CFO & COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2026

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

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

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

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	07/21/2026		A		229,850(1)	A	$32.63	778,797	D

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. Of the amount of securities beneficially owned, 450,879 shares represent unvested restricted stock units.

	/s/ Virginia Rosas, Attorney-in-Fact	07/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)