SCHEDULE: Franklin Resources Amends Eastman Chemical Stake

Franklin Resources, Inc. reports a 3.9% beneficial ownership stake in Eastman Chemical Company common stock in an amended Schedule 13G filing.

Summary

• Franklin Resources, Inc. beneficially owns 4,493,013 shares of Eastman Chemical Company common stock.
• This ownership represents 3.9% of Eastman Chemical Company's outstanding common stock.
• Franklin Resources, Inc. holds sole voting power over 4,480,950 shares and shared voting power over 10,198 shares.
• Sole dispositive power is held over 4,482,126 shares, with shared dispositive power over 10,887 shares.
• Charles B. Johnson and Rupert H. Johnson, Jr., principal stockholders of Franklin Resources, Inc., are deemed beneficial owners for reporting purposes but disclaim pecuniary interest in the securities.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Eastman Chemical Company.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's operational performance or financial health.

Future Outlook

NA

Management Comments

• The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

NA

Related Party Transactions

• Charles B. Johnson and Rupert H. Johnson, Jr., as principal stockholders of Franklin Resources, Inc., may be deemed beneficial owners of the securities held by Franklin Resources' subsidiaries, although they disclaim any pecuniary interest.

Stakeholder Impact

• Provides transparency to shareholders and the market regarding significant institutional ownership in Eastman Chemical Company.
• Informs regulatory bodies about compliance with beneficial ownership reporting requirements.

Key Dates

Keywords

Eastman Chemical Company, Franklin Resources Inc., Beneficial Ownership, Schedule 13G, Common Stock, Investment Management, Institutional Ownership