Gamba Daniel 4

What Happened
Daniel Gamba, Co‑President & Chief Commercial Officer of Franklin Resources (BEN), was granted/acquired 229,850 shares on 2026-07-21. The filing reports an acquisition at a reported price of $32.63 per share, for a total value of $7,500,006. This transaction is recorded as an award/grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-07-21 (Form 4 filed 2026-07-23). Filing appears within the standard two-business-day window.
• Instrument and amount: 229,850 shares; reported price $32.63; total value $7,500,006. Transaction code: A (award/grant).
• Shares owned after transaction: total beneficial ownership after this grant is not specified in the excerpt provided.
• Footnote: The filing notes that 672,720 shares of the insider’s beneficially owned securities represent unvested restricted stock unit awards (F1).
• No indication in the provided excerpt of a 10b5-1 plan, sale, option exercise, or tax‑withholding disposition tied to this grant.

Context
Grants/awards to executives are typically compensation awards (often restricted stock units) that vest over time; they are not the same as open‑market purchases and do not necessarily signal immediate bullish buying. The filing’s footnote referencing unvested RSUs is consistent with standard equity compensation practices for executives.