Form 4: Franklin Resources Inc. Reports Change in Beneficial Ownership of Clarion Partners Real Estate Income Fund Inc.

Franklin Resources Inc. reports the disposition of shares in Clarion Partners Real Estate Income Fund Inc., resulting in a slightly decreased beneficial ownership.

Summary

• Franklin Resources Inc. (FRI) filed a Form 4 indicating a change in beneficial ownership of Clarion Partners Real Estate Income Fund Inc.
• On April 17, 2025, FRI disposed of 863,557.858 shares of common stock at a price of $11.58 per share.
• Following the transaction, FRI directly owns 14,930,076.819 shares in the aggregate among four share classes.
• FRI owns 5,223.242 Shares of Class S Shares, 5,232.408 Shares of Class T Shares, 5,250.651 Shares of Class D Shares and 14,914,370.500 Shares of Class I Shares.
• The filing also includes a Limited Power of Attorney granted by Charles B. Johnson and Rupert H. Johnson, Jr., appointing several individuals as attorneys-in-fact for Section 13 and 16 reporting obligations.
• Additionally, Charles B. Johnson and Rupert H. Johnson, Jr. revoked previous Limited Powers of Attorney granted to Steven J. Gray and Lori A. Weber.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports a transaction and related legal documentation.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders and significant shareholders. This filing indicates a change in Franklin Resources Inc.'s holdings in Clarion Partners Real Estate Income Fund Inc., which is relevant to investors tracking ownership changes.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies and their significant shareholders, ensuring transparency in the market.
• Similar filings are common among investment firms like BlackRock, Vanguard, and State Street when they adjust their holdings in various companies.

Stakeholder Impact

• The change in ownership may have a minor impact on shareholders of Clarion Partners Real Estate Income Fund Inc., as it reflects a slight decrease in Franklin Resources Inc.'s holdings.

Key Dates

Keywords

beneficial ownership, Form 4, Franklin Resources Inc., Clarion Partners Real Estate Income Fund Inc., Section 16, securities, shares, investment adviser, power of attorney