Byerwalter Mariann H 4

What Happened

• Mariann H. Byerwalter, a director of Franklin Resources (BEN), was granted 7,593 shares on February 3, 2026. The shares are reported at $27.00 each, for a total value of $205,011. The filing uses transaction code "A" (award/grant), indicating these were granted shares rather than an open‑market purchase or sale.
• The shares were acquired for the benefit of a revocable family trust for which Ms. Byerwalter is the sole trustee with voting and investment power (see footnote).

Key Details

• Transaction date: 2026-02-03; Price: $27.00 per share.
• Shares acquired: 7,593; Total value reported: $205,011.
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote: Shares were acquired by a revocable family trust of which the reporting person is sole trustee (voting and investment power).
• Filing date: 2026-02-04 — appears to be filed promptly (next-day reporting).

Context

• This was a grant/award (director compensation or plan award), not an open-market buy or sale. Grants increase insider holdings but can be part of routine compensation and don’t necessarily signal the insider’s view on near-term stock direction.
• For investors tracking insider activity, awards are relevant because they add to insider ownership; treat them differently from outright purchases (which may indicate a personal cash investment).