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

Director Karen Matsushima King acquired deferred director's fees in Franklin Resources stock, according to a recent SEC filing.

Summary

• On April 1, 2024, Karen Matsushima King, a director of Franklin Resources Inc., acquired deferred director's fees equivalent to 1,149.5293 shares of common stock.
• The acquisition was made under the 2006 Directors Deferred Compensation Plan.
• The price per share was $27.62.
• Following the transaction, King beneficially owns 33,881.7975 shares.
• The deferred fees are payable in cash in substantially equal quarterly installments over ten years following separation from service, beginning on specified dates.
• The expiration date for the derivative security is January 20, 2058.
• King has the option to transfer the hypothetical investment account into an alternative investment account not based on Franklin Resources Inc. stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to director compensation, indicating a neutral sentiment.

Future Outlook

The deferred director's fees will be paid out in cash over ten years following the director's separation from service.

Industry Context

This filing is a routine disclosure of a director's compensation in the form of deferred stock, which is a common practice in publicly traded companies.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects a director's compensation.

Key Dates