Friedman Alexander S 4

What Happened
Alexander S. Friedman, a director of Franklin Resources, Inc. (BEN), was credited with 7,592.593 shares (derivative stock units) on 2026-02-03 at a unit value of $27.00, totaling $205,000. This transaction is reported as an award/acquisition (derivative) under the company’s director deferred compensation arrangements rather than an open‑market purchase.

Key Details

• Transaction date: 2026-02-03; filing date: 2026-02-04 (timely).
• Instrument: Derivative stock units (code A — grant/award). Price/value used: $27.00 per unit; total reported value $205,000.
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F2: Exercisable/expiration dates assume director’s separation occurs in February after the director’s 75th birthday.
  • F3: Units represent a hypothetical investment account under the 2006 Director Deferred Compensation Plan based on Franklin Resources stock performance (including reinvested dividends); the reporting person may transfer the account into non‑stock alternative investments effective quarterly.
• Filing status: Timely (no late filing indicated).

Context
This was a deferred‑compensation credit (stock‑unit award), not an immediate market purchase or sale. Such grants typically reflect director fee deferral and vest/payable terms tied to separation from service and do not necessarily signal short‑term trading intent.