Franklin Resources (NYSE: BEN) director awarded new deferred compensation units

Rhea-AI Filing Summary

Franklin Resources director Karen Matsushima King reported a grant of deferred director’s fees tied to the company’s stock performance. On this Form 4, she acquired 1,005.5784 units of Deferred Director's Fees (FRI), based on a reference price of $34.0600 per unit, as a compensation award rather than an open-market purchase.

Each unit represents a hypothetical investment account linked to Franklin Resources stock, including reinvested dividends, and is payable in cash over time under the 2006 Directors Deferred Compensation Plan. Following this grant, her deferred units balance increased to 72,434.9791. The account is scheduled to pay substantially equal quarterly cash installments over ten years beginning after her separation from service, with an indicated expiration date of January 20, 2058.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider King Karen Matsushima

Role null

Type	Security	Shares	Price	Value
Grant/Award	Deferred Director's Fees (FRI)	1,005.578	$34.06	$34K

Holdings After Transaction: Deferred Director's Fees (FRI) — 72,434.979 shares (Direct, null)

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. 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.

Key Figures

Deferred units granted: 1,005.5784 units Reference price per unit: $34.0600 per unit Total deferred units after grant: 72,434.9791 units +4 more

7 metrics

Deferred units granted 1,005.5784 units Deferred Director's Fees (FRI) grant on July 1, 2026

Reference price per unit $34.0600 per unit Pricing basis for Deferred Director's Fees (FRI) grant

Total deferred units after grant 72,434.9791 units Deferred Director's Fees (FRI) balance following transaction

Conversion/exercise price $0.0000 Deferred compensation units payable in cash, not traditional options

Exercise date assumption February after 75th birthday Assumed separation-from-service timing for exercisability

Expiration date January 20, 2058 Stated expiration for deferred compensation units

Payout schedule 10 years quarterly Cash installments paid over ten years after separation

Key Terms

Deferred Director's Fees (FRI), 2006 Directors Deferred Compensation Plan, hypothetical investment account, reinvested dividends

4 terms

Deferred Director's Fees (FRI) financial

"Deferred Director's Fees (FRI) units linked to Franklin Resources stock performance"

2006 Directors Deferred Compensation Plan financial

"deferred director's fees, under the 2006 Directors Deferred Compensation Plan"

hypothetical investment account financial

"Represents a hypothetical investment account calculation of deferred director's fees"

reinvested dividends financial

"based upon the performance of Franklin Resources, Inc.'s stock (including reinvested dividends)"

Reinvested dividends are payouts a shareholder receives from a company that are automatically used to buy additional shares instead of being taken as cash. For investors this acts like planting dividends back into the portfolio so each future payout can come from a slightly larger holding, helping returns compound over time and showing the difference between income you spend today and total growth of your investment.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 05:40 PM Accepted by SEC EDGAR 07/02/2026 - 05:39 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^*

King Karen Matsushima

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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)	07/01/2026		A		1,005.5784		04/20/2048(2)	(2)(3)	Common Stock, par value $.10	1,005.5784	$34.06	72,434.9791	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	07/02/2026
	** 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)

FAQ

What insider transaction did Franklin Resources (BEN) disclose for Karen Matsushima King?

Karen Matsushima King received a grant of 1,005.5784 Deferred Director's Fees (FRI) units. These units are a form of deferred compensation linked to Franklin Resources stock performance, not an open-market stock purchase or sale.

How many deferred units does Karen Matsushima King hold after this Form 4 for BEN?

After this grant, Karen Matsushima King holds 72,434.9791 Deferred Director's Fees (FRI) units. This balance reflects her accumulated deferred director compensation tied to Franklin Resources stock performance under the company’s 2006 Directors Deferred Compensation Plan.

Is the July 1, 2026 BEN Form 4 a stock purchase by the director?

No. The filing shows a grant/award acquisition of 1,005.5784 Deferred Director's Fees (FRI) units at a reference price of $34.0600 per unit, structured as deferred cash-settled compensation rather than an open-market stock purchase.

How and when will the deferred director’s fees for BEN be paid out?

The deferred director’s fees are payable in cash in substantially equal quarterly installments over ten years. Payments begin after the director’s separation from Franklin Resources, starting on a scheduled January, April, July, or October 20 date.

What is the expiration date of Karen Matsushima King’s deferred compensation units at Franklin Resources (BEN)?

The deferred compensation units have an expiration date of January 20, 2058. Footnotes explain that exercisability and timing assume separation from service around the February following the director’s 75th birthday, consistent with the plan’s terms.