Form 4: Franklin Resources GC Sells Shares for Tax Withholding

Franklin Resources' EVP and General Counsel, Thomas C. Merchant, disposed of 8,877 shares of common stock at $25.66 per share to cover tax liabilities.

Summary

• Thomas C. Merchant, Executive Vice President and General Counsel of Franklin Resources, Inc. (BEN), reported a transaction.
• On August 31, 2025, Mr. Merchant disposed of 8,877 shares of Franklin Resources Common Stock.
• The disposition was for the payment of tax liability by withholding securities incident to the vesting of a security, as per Rule 16b-3.
• The price per share for the disposed securities was $25.66.
• Following this transaction, Mr. Merchant beneficially owns 61,521 shares of Common Stock directly.
• Of the beneficially owned shares, 19,191 shares represent unvested restricted stock units.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction for tax withholding purposes, which is neutral in sentiment and does not indicate any significant positive or negative developments for the company or its stock.

Future Outlook

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

Industry Context

This is a routine insider transaction related to executive compensation and tax obligations, which is common across all industries for executives receiving equity-based compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and does not reflect a change in management's investment thesis or a significant sale of holdings.

Key Dates

Keywords

Franklin Resources, BEN, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Executive Compensation, Thomas C. Merchant