Form 4: Franklin Resources Director John Y. Kim Reports Acquisition of Deferred Director's Fees
SEC Form 4 Filing
Director John Y. Kim reports acquisition of deferred director's fees in Franklin Resources Inc. stock.
Summary
- On October 1, 2024, John Y. Kim, a director of Franklin Resources Inc. (BEN), acquired 1,572.8057 shares of deferred director's fees (FRI).
- The acquisition was part of the 2006 Director Deferred Compensation Plan.
- These fees are based on the performance of Franklin Resources Inc.'s stock and reinvested dividends.
- The price per share was $19.71.
- Following the transaction, Kim directly owns 46,273.4253 shares.
- The deferred fees are payable in one payment following the director's separation from service from Franklin Resources, Inc. and its subsidiaries.
- The 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.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding director compensation, with neutral sentiment.
Future Outlook
The deferred fees are payable in one payment following the director's separation from service from Franklin Resources, Inc. and its subsidiaries. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account(s) not based on the performance of Franklin Resources, Inc. stock effective as of the first day of any calendar quarter.
Industry Context
This filing is a routine disclosure related to director compensation and holdings, common in the financial services industry.
Comparison to Industry Standards
- Director compensation packages, including deferred compensation plans, are common across the financial services industry.
- Companies like BlackRock, State Street, and T. Rowe Price also utilize similar compensation structures to align director interests with shareholder value.
- The specifics of these plans (e.g., vesting schedules, performance metrics) vary by company.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it relates to director compensation.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of transaction: Acquisition of deferred director's fees. |
| 10/02/2024 | Date of signature on the Form 4 filing. |
| 04/20/2036 | 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. |
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