King Karen Matsushima 4
4 · FRANKLIN RESOURCES INC · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Franklin Resources (BEN) Director Karen Matsushima Receives Award
What Happened
Karen Matsushima, a director of Franklin Resources, Inc. (BEN), was granted a derivative award on 2026-02-03 equal to 7,592.593 shares at $27.00 per share, with a total reported value of $205,000. The transaction is reported as an Award/Grant (code A) and represents a deferred-compensation credit tied to Franklin Resources stock performance, not an open‑market purchase of common shares.
Key Details
- Transaction date: 2026-02-03; Form filed: 2026-02-04 (appears timely).
- Instrument: Derivative award (code A) — 7,592.593 “shares” @ $27.00 each = $205,000.
- Shares owned after transaction: not disclosed in the provided filing.
- Footnotes:
- F4: Award represents a hypothetical investment account under the 2006 Directors Deferred Compensation Plan; payout is in cash (based on Franklin stock performance, including reinvested dividends) in substantially equal quarterly installments over 10 years beginning after director’s separation.
- F2: Exercisable/expiration dates assume separation occurs in the February after the director’s 75th birthday.
- F3: An expiration date of 01/20/2058 is noted.
- F1: Not applicable.
Context
This is a director compensation-related derivative award (deferred compensation) that provides economic exposure tied to Franklin Resources’ stock performance but does not necessarily reflect immediate ownership of common shares or an open-market buy/sell. Such awards are routine forms of director pay and should be interpreted as compensation disclosures rather than direct insider purchases signaling a personal investment.
Insider Transaction Report
- Award
Deferred Director's Fees (FRI)
[F1][F2][F3][F4]2026-02-03$27.00/sh+7,592.593$205,000→ 68,979.91 totalFrom: 2048-04-20→ Common Stock, par value $.10 (7,592.593 underlying)
Footnotes (4)
- [F1]Not applicable.
- [F2]Exercisable and expiration dates assume the director's separation from service from Franklin Resources, Inc. and its subsidiaries occurs in the February following the director's 75th birthday. See footnote below.
- [F3]Expiration Date is 01/20/2058.
- [F4]Represents a hypothetical investment account calculation of deferred Franklin Resources, Inc.'s director's fees, under the 2006 Directors Deferred Compensation Plan, based upon the performance of Franklin Resources, Inc.'s stock (including reinvested dividends) payable in cash in substantially equal quarterly installments over ten years beginning on the earlier of the January 20, April 20, July 20 or October 20 immediately following the director's separation from service from Franklin Resources, Inc. and its subsidiaries and continuing on each January 20, April 20, July 20 and October 20 thereafter, except that if any such date is a Saturday, Sunday or holiday, then the quarterly installment shall be paid on the next business day. Reporting Person may transfer the hypothetical investment account amount into an alternative investment account not based on the performance of Franklin Resources, Inc. stock effective as of the first day of any calendar quarter.