Franklin Resources (NYSE: BEN) sells 1,682,905.226 Clarion fund shares

Rhea-AI Filing Summary

Franklin Resources, Inc., identified as an affiliate of the investment adviser to Clarion Partners Real Estate Income Fund Inc., reported selling 1,682,905.226 Class I shares of common stock at $11.29 per share on July 20, 2026. After this sale, it held 5,103,657.501 shares across four share classes: 93,328.969 Class S, 5,232.408 Class T, 5,250.651 Class D and 4,999,845.473 Class I.

Insider Trade Summary

Net Seller: 1,682,905.226 shares

Net Sell 1 txn

Insider FRANKLIN RESOURCES INC

Role Insider

Sold 1,682,905.226 shs ($19.00M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	1,682,905.226	$11.29	$19.00M

Holdings After Transaction: Common Stock — 5,103,657.501 shares (Direct)

Footnotes (3)

1. F1. Class I Shares
2. F2. Franklin Resources, Inc. ("FRI") owns 5,103,657.501 shares in the aggregate among four share classes. Specifically, FRI owns 93,328.969 Shares of Class S Shares, 5,232.408 Shares of Class T Shares, 5,250.651 Shares of Class D Shares and 4,999,845.473 Shares of Class I Shares.
3. F3. LIMITED POWERS OF ATTORNEY FOR SECTION 13 AND 16 REPORTING OBLIGATIONS (incorporated by reference to Form 4 filed on January 16, 2026)

Key Figures

Shares sold: 1,682,905.226 shares Sale price: $11.29 per share Total shares after transaction: 5,103,657.501 shares +4 more

7 metrics

Shares sold 1,682,905.226 shares Class I Shares of Clarion Partners Real Estate Income Fund Inc. sold on July 20, 2026

Sale price $11.29 per share Price for the 1,682,905.226 Class I shares sold

Total shares after transaction 5,103,657.501 shares Aggregate holdings across four share classes after the sale

Class S holdings 93,328.969 shares Portion of post-transaction holdings in Class S Shares

Class T holdings 5,232.408 shares Portion of post-transaction holdings in Class T Shares

Class D holdings 5,250.651 shares Portion of post-transaction holdings in Class D Shares

Class I holdings 4,999,845.473 shares Portion of post-transaction holdings in Class I Shares

Key Terms

Class I Shares, Limited Powers of Attorney, Section 13 and 16 reporting obligations

3 terms

Class I Shares financial

"Class I Shares"

Limited Powers of Attorney regulatory

"LIMITED POWERS OF ATTORNEY FOR SECTION 13 AND 16"

Section 13 and 16 reporting obligations regulatory

"POWERS OF ATTORNEY FOR SECTION 13 AND 16 REPORTING OBLIGATIONS"

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/22/2026 - 08:17 PM Accepted by SEC EDGAR 07/22/2026 - 02:30 PM Learn about SEC filing dates

FAQ

What insider transaction did Franklin Resources (BEN) report involving Clarion Partners Real Estate Income Fund Inc.?

Franklin Resources reported a sale of 1,682,905.226 Class I shares of Clarion Partners Real Estate Income Fund Inc. common stock on July 20, 2026, at $11.29 per share, as disclosed in a Form 4 insider ownership report.

How many shares did Franklin Resources (BEN) sell and at what price in this Clarion fund trade?

Franklin Resources sold 1,682,905.226 Class I shares of Clarion Partners Real Estate Income Fund Inc. at a price of $11.29 per share. The transaction involved non-derivative common stock and was reported as a sale transaction.

What is Franklin Resources' (BEN) remaining position in Clarion Partners Real Estate Income Fund after the sale?

Following the reported sale, Franklin Resources held 5,103,657.501 shares of Clarion Partners Real Estate Income Fund Inc. across four classes: 93,328.969 Class S, 5,232.408 Class T, 5,250.651 Class D and 4,999,845.473 Class I shares in aggregate.

Which share class of Clarion Partners Real Estate Income Fund did Franklin Resources (BEN) sell?

The reported transaction involved Class I Shares of Clarion Partners Real Estate Income Fund Inc. Franklin Resources sold 1,682,905.226 Class I shares of the fund’s common stock in this Form 4 transaction, as specified in the footnote describing the share class.

Was Franklin Resources' (BEN) Clarion fund sale made under a Rule 10b5-1 trading plan?

The report’s Rule 10b5-1 checkbox is not marked as affirming a trading plan, and no footnote describes a Rule 10b5-1 arrangement. The disclosed information therefore does not characterize this sale as being executed under a pre-arranged trading plan.

How is Franklin Resources (BEN) described in relation to Clarion Partners Real Estate Income Fund Inc.?

Franklin Resources is described as an affiliate of the investment adviser to Clarion Partners Real Estate Income Fund Inc. It reported this sale and the resulting holdings in that capacity, rather than as a director or officer of the fund.

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^*

FRANKLIN RESOURCES INC

(Last) (First) (Middle)

ONE FRANKLIN PARKWAY

(Street)

SAN MATEO CALIFORNIA 94403-1906

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Clarion Partners Real Estate Income Fund Inc. [ N/A ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Affiliate of Investment Adv.

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/20/2026

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	07/20/2026		S		1,682,905.226(1)	D	$11.29	5,103,657.501(2)	D(3)

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. Class I Shares

2. Franklin Resources, Inc. ("FRI") owns 5,103,657.501 shares in the aggregate among four share classes. Specifically, FRI owns 93,328.969 Shares of Class S Shares, 5,232.408 Shares of Class T Shares, 5,250.651 Shares of Class D Shares and 4,999,845.473 Shares of Class I Shares.

3. LIMITED POWERS OF ATTORNEY FOR SECTION 13 AND 16 REPORTING OBLIGATIONS (incorporated by reference to Form 4 filed on January 16, 2026)

Remarks:

	/s/Thomas C. Mandia, Assistant Secretary of Franklin Resources, Inc., on behalf of Franklin Resources, Inc. and its subsidiaries	07/22/2026
	** 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)