Form 4: Franklin Resources EVP, CFO & COO Matthew Nicholls Reports Stock Transaction
SEC Filing (Form 4)
Matthew Nicholls, EVP, CFO & COO of Franklin Resources, reports the disposition of 56,592 shares of common stock to cover tax liabilities related to vesting restricted stock units on August 31, 2024.
Summary
- On August 31, 2024, Matthew Nicholls, EVP, CFO & COO of Franklin Resources, disposed of 56,592 shares of common stock.
- The transaction was to cover tax liabilities related to the vesting of a security issued in accordance with Rule 16b-3.
- The shares were disposed of at a price of $20.24 per share.
- Following the transaction, Nicholls beneficially owns 328,076 shares of Franklin Resources common stock, of which 117,013 shares represent unvested restricted stock units.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects a routine transaction related to tax obligations on vested stock units.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax liability coverage related to vesting equity.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/31/2024 | Date of the stock transaction (disposal of shares). |
| 09/04/2024 | Date of signature on the Form 4 filing. |
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