Form 4: Franklin Resources Executive Chairman Sells Shares for Tax

Gregory E. Johnson, Executive Chairman of Franklin Resources, disposed of 11,794 shares of common stock to cover tax liabilities.

Summary

• Gregory E. Johnson, Executive Chairman and Director of Franklin Resources Inc. (BEN), reported a transaction on August 31, 2025.
• The transaction involved the disposition of 11,794 shares of common stock at a price of $25.66 per share.
• This disposition was a payment of tax liability by withholding securities incident to the vesting of a security, in accordance with Rule 16b-3.
• Following the transaction, Mr. Johnson directly beneficially owns 2,653,074 shares of common stock, which includes 29,312 unvested restricted stock units.
• Indirect beneficial ownership includes 7,576.3639 shares in a 401(k) plan (as of April 11, 2025), 2,573,100 shares through a business limited partnership, 252,415 shares by children or as trustee for children, 26,444 shares by spouse, and 396,000 shares through a venture limited partnership.
• Mr. Johnson disclaims beneficial ownership for shares held by his children, as trustee for his children, by his spouse, and for the children's trusts within the venture limited partnership.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (tax withholding) by an insider, which is neutral in sentiment. It does not indicate any positive or negative operational or financial developments for the company.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically a non-discretionary sale to cover tax obligations upon the vesting of equity awards. Such transactions are common across all industries for executives receiving equity compensation and do not typically reflect a change in management's outlook on the company's prospects.

Related Party Transactions

• Indirect beneficial ownership includes shares held by a business limited partnership and a venture limited partnership under the control of the reporting person.
• Indirect beneficial ownership also includes shares held by the reporting person's children or as trustee for his children, and by his spouse, for which beneficial ownership is disclaimed.

Stakeholder Impact

• Shareholders: The disposition of shares is a routine tax-related event and is unlikely to have a significant impact on the company's stock price or shareholder value.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

Franklin Resources, BEN, Gregory E Johnson, Insider Trading, Form 4, Executive Chairman, Stock Disposition, Tax Liability, Beneficial Ownership