BEN director adds deferred units; total now 58,982.4162

Q: What did BEN report on Form 4?

A director acquired 109.4571 Deferred Director's Fees units on 10/25/2025 at a derivative security price of $22.84 .

Q: How many derivative units does the BEN director hold after the transaction?

The director beneficially owns 58,982.4162 derivative units, held directly .

Q: Are these BEN units actual shares?

No. They are a hypothetical investment account tracking Franklin Resources’ stock and are payable in cash under the 2006 plan.

Q: What is the payout structure for the BEN deferred units?

Cash is paid in substantially equal quarterly installments over ten years starting after separation, on or around Jan 20, Apr 20, Jul 20, and Oct 20 .

Q: What is the ownership form of the reported BEN derivative units?

The units are reported as Direct (D) ownership.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Franklin Resources (BEN) reported an insider Form 4 showing a director acquired 109.4571 units of Deferred Director's Fees on 10/25/2025. The units were recorded at a derivative security price of $22.84, bringing the director’s derivative holdings to 58,982.4162 units, held directly.

These units are part of the company’s 2006 Directors Deferred Compensation Plan. They represent a hypothetical investment account that tracks Franklin Resources’ stock performance, including reinvested dividends, and are payable in cash in substantially equal quarterly installments over ten years following the director’s separation from service. Footnotes indicate exercisability based on separation timing, with an expiration date of 01/20/2058.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider King Karen Matsushima

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Director's Fees (FRI)	109.457	$22.84	$3K

Holdings After Transaction: Deferred Director's Fees (FRI) — 58,982.416 shares (Direct)

Footnotes (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. Expiration Date is 01/20/2058. Represents a hypothetical investment account calculation of deferred Franklin Resources, Inc.'s director's fees, under the 2006 Directors Deferred Compensation Plan, based upon the performance of Franklin Resources, Inc.'s stock (including reinvested dividends) payable in cash in substantially equal quarterly installments over ten years beginning on the earlier of the January 20, April 20, July 20 or October 20 immediately following the director's separation from service from Franklin Resources, Inc. and its subsidiaries and continuing on each January 20, April 20, July 20 and October 20 thereafter, except that if any such date is a Saturday, Sunday or holiday, then the quarterly installment shall be paid on the next business day. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account 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 →

10/27/2025 - 03:11 PM

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^*

King Karen Matsushima

(Last)

(First)

(Middle)

C/O FRANKLIN RESOURCES, INC.

ONE FRANKLIN PARKWAY

(Street)

SAN MATEO

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)
10/25/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Director's Fees (FRI)	⁽¹⁾	10/25/2025		A		109.4571		04/20/2048⁽²⁾	⁽²⁾⁽³⁾	Common Stock, par value $.10	109.4571	$22.84	58,982.4162	D⁽⁴⁾

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. Expiration Date is 01/20/2058.

4. Represents a hypothetical investment account calculation of deferred Franklin Resources, Inc.'s director's fees, under the 2006 Directors Deferred Compensation Plan, based upon the performance of Franklin Resources, Inc.'s stock (including reinvested dividends) payable in cash in substantially equal quarterly installments over ten years beginning on the earlier of the January 20, April 20, July 20 or October 20 immediately following the director's separation from service from Franklin Resources, Inc. and its subsidiaries and continuing on each January 20, April 20, July 20 and October 20 thereafter, except that if any such date is a Saturday, Sunday or holiday, then the quarterly installment shall be paid on the next business day. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account 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	10/27/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did BEN report on Form 4?

A director acquired 109.4571 Deferred Director's Fees units on 10/25/2025 at a derivative security price of $22.84.

How many derivative units does the BEN director hold after the transaction?

The director beneficially owns 58,982.4162 derivative units, held directly.

Are these BEN units actual shares?

No. They are a hypothetical investment account tracking Franklin Resources’ stock and are payable in cash under the 2006 plan.

What is the payout structure for the BEN deferred units?

Cash is paid in substantially equal quarterly installments over ten years starting after separation, on or around Jan 20, Apr 20, Jul 20, and Oct 20.

What are the exercisability and expiration details?

Exercisability assumes separation timing tied to the director’s 75th birthday; the expiration date is 01/20/2058.

Were any non‑derivative BEN shares traded?

No non-derivative transactions are listed in the provided tables.

What is the ownership form of the reported BEN derivative units?

The units are reported as Direct (D) ownership.