Form 4: Franklin Resources Executive Chairman Reports Stock Transaction

Gregory E. Johnson, Executive Chairman of Franklin Resources, reported a transaction involving the withholding of shares to cover tax liabilities.

Summary

• Gregory E. Johnson, the Executive Chairman of Franklin Resources, filed a Form 4 detailing a transaction on December 1, 2024.
• The transaction involved the withholding of 4,862 shares of common stock to cover tax liabilities related to the vesting of a security.
• The shares were withheld at a price of $22.76 per share.
• Following the transaction, Johnson directly owns 2,204,753 shares of Franklin Resources common stock, with 62,273 of those shares being unvested restricted stock units.
• Johnson also indirectly owns shares through a 401(k) plan, a business limited partnership, holdings for his children, his spouse, and a venture limited partnership.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing of a stock transaction, which is neither positive nor negative in itself.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in the US, as mandated by the SEC.
• The transaction is typical for executives who receive stock-based compensation and need to cover tax obligations upon vesting.
• Similar filings are made by executives at other financial firms such as BlackRock, State Street, and T. Rowe Price when they have stock transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax withholding event.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transaction, Franklin Resources, Gregory E. Johnson, Executive Chairman, Share Withholding, Tax Liability, Restricted Stock Units