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AI brief of an SEC Form 8-K · Franklin Resources (BEN)

Franklin Resources grants retention equity and carry awards to top executives

Neutral Impact 3 of 5 leadership Written later

Effective July 21, 2026, the Compensation Committee granted one-time special retention equity awards to CEO Jennifer M. Johnson, Co-Presidents Daniel Gamba, Terrence J. Murphy and Matthew Nicholls, and carry incentive allocations to CEO Jennifer M. Johnson and Executive Chairman Gregory E. Johnson. The filing says the awards are meant to retain the core leadership team and that the carry incentives have no realizable value at grant, paying out only if fund performance exceeds pre-specified hurdles.

Key points

  • Each equity award has a grant-date fair value of approximately $15 million, split 50% performance stock units (fiscal years 2027 to 2029, payout range 0% to 187.5%) and 50% restricted stock units vesting August 31, 2031.
  • Carry incentives to the CEO and Executive Chairman vest over five years, with one-third eligible in years three, four and five.
  • The filing states the awards are not part of regular annual compensation; full award terms will be filed with the Form 10-K for the fiscal year ending September 30, 2026.

The filing

CompanyFranklin Resources (BEN)
Form8-K, current report
Filed with the SECJul 23, 2026, 8:48 AM ET
Accession number0000038777-26-000194

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.