Form 4: Franklin Resources Director King Acquires Deferred Director's Fees

Director Karen Matsushima King acquired deferred director's fees convertible to 252.7806 shares of Franklin Resources Inc. (BEN) common stock on August 21, 2024.

Summary

• On August 21, 2024, Karen Matsushima King, a director of Franklin Resources Inc. (BEN), acquired deferred director's fees that are convertible into 252.7806 shares of common stock.
• The transaction was reported on a Form 4 filing with the SEC.
• Following the transaction, King directly owns 36,874.4874 shares of Franklin Resources Inc.
• The deferred director's fees are part of the 2006 Directors Deferred Compensation Plan and are payable in cash over ten years after separation from service.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The deferred director's fees will be paid out 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.

Industry Context

This Form 4 filing is a routine disclosure of a director's acquisition of deferred compensation, which is a common practice in publicly traded companies to align director interests with shareholder value.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it primarily reflects internal compensation arrangements for a director.

Key Dates