Franklin Templeton EVP & General Counsel Disposes Shares for Tax Withholding

Executive Summary

On August 31, 2026, Thomas C. Merchant, Executive Vice President and General Counsel of Franklin Templeton Inc. ($BEN), disposed of 9,807 shares of common stock at a price of $34.15 per share, representing a total transaction value of approximately $334,909.05. Following this transaction, Merchant retains direct beneficial ownership of 82,805 shares, which includes 21,887 unvested restricted stock units.

Transaction Details & Nature

The transaction was executed under Transaction Code 'F', indicating the withholding of shares by the issuer to cover statutory tax withholding liabilities associated with the vesting of equity awards (Rule 16b-3). This was not an open-market sale or a discretionary portfolio rebalancing by the executive.

Market & Governance Impact

• Trading Significance: Low. Dispositions of shares to cover tax withholding upon equity vestings are standard executive compensation events and do not reflect insider sentiment regarding the company's valuation or operational performance.
• Ownership Retention: The insider continues to hold a substantial equity stake of 82,805 shares directly, aligning management interests with shareholders.