Deferred fee grant boosts Franklin Resources (NYSE: BEN) director holdings

Rhea-AI Filing Summary

Franklin Resources director Karen Matsushima King reported an acquisition of 1,451.8864 units of Deferred Director's Fees, tied to Franklin Resources stock at a reference price of $23.59. Following this grant, her deferred fee balance linked to common stock totals 70,431.7959 units.

These awards are part of the 2006 Directors Deferred Compensation Plan and represent a hypothetical investment account based on stock performance, including reinvested dividends. The balance is payable in cash in substantially equal quarterly installments over ten years after she separates from service, beginning on specified January, April, July, or October payment dates.

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)	1,451.886	$23.59	$34K

Holdings After Transaction: Deferred Director's Fees (FRI) — 70,431.796 shares (Direct)

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 fees granted: 1,451.8864 units Reference price per unit: $23.59 Deferred units after grant: 70,431.7959 units +4 more

7 metrics

Deferred fees granted 1,451.8864 units Deferred Director's Fees grant on April 1, 2026

Reference price per unit $23.59 Price per unit for deferred fees grant

Deferred units after grant 70,431.7959 units Total Deferred Director's Fees following transaction

Exercise date assumption February after 75th birthday Timing assumption for exercisable and expiration dates

Expiration date January 20, 2058 Stated expiration date for the deferred award

Payout term 10 years Cash installments over ten years after separation

Installment frequency Quarterly Paid on January 20, April 20, July 20, October 20

Key Terms

Deferred Director's Fees, 2006 Directors Deferred Compensation Plan, hypothetical investment account, separation from service, +1 more

5 terms

Deferred Director's Fees financial

"Represents a hypothetical investment account calculation of deferred Franklin Resources, Inc.'s director's fees"

2006 Directors Deferred Compensation Plan financial

"under the 2006 Directors Deferred Compensation Plan, based upon the performance of Franklin Resources, Inc.'s stock"

hypothetical investment account financial

"Represents a hypothetical investment account calculation of deferred Franklin Resources, Inc.'s director's fees"

separation from service financial

"following the director's separation from service from Franklin Resources, Inc. and its subsidiaries"

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.

Form 4 Insider Transactions: What Each Field Means →

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)
04/01/2026

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)	04/01/2026		A		1,451.8864		04/20/2048(2)	(2)(3)	Common Stock, par value $.10	1,451.8864	$23.59	70,431.7959	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	04/02/2026
	** 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) report for director Karen Matsushima King?

Franklin Resources director Karen Matsushima King reported receiving 1,451.8864 units of Deferred Director's Fees. These units are linked to the company’s stock performance and reflect compensation, not an open-market stock purchase or sale, under the 2006 Directors Deferred Compensation Plan.

How many deferred director fee units does the Franklin Resources (BEN) director hold after this Form 4?

After the reported grant, the director’s deferred fee balance linked to Franklin Resources stock totals 70,431.7959 units. These units track stock performance, including reinvested dividends, and will ultimately be settled in cash under the plan’s payout schedule.

How is the Franklin Resources (BEN) deferred director compensation calculated and paid?

The deferred director compensation is a hypothetical investment account based on Franklin Resources stock performance with reinvested dividends. It is paid in cash in substantially equal quarterly installments over ten years, beginning after the director’s separation from service on specified calendar dates.

Is the Franklin Resources (BEN) director’s Form 4 a stock purchase or sale?

The Form 4 reflects a grant of deferred director’s fees, not a market stock purchase or sale. It records compensation units tied to Franklin Resources stock performance that will later be paid in cash according to the deferred compensation plan’s terms.

When will the Franklin Resources (BEN) director begin receiving cash payments from the deferred fees?

Cash payments begin on the first January 20, April 20, July 20, or October 20 following the director’s separation from service. Payments then continue in substantially equal quarterly installments over ten years, adjusted to the next business day if a date falls on a weekend or holiday.

What are the key dates related to the Franklin Resources (BEN) deferred director fee award?

The award assumes exercisable and expiration dates based on separation after the February following the director’s 75th birthday. The stated expiration date is January 20, 2058, framing the long-term nature of this hypothetical investment account under the deferred compensation plan.