---
schema_version: "secwatch.filing_event.v1"
accession: "0000038777-26-000194"
form_type: "8-K"
ticker: "BEN"
cik: "0000038777"
company_name: "FRANKLIN RESOURCES INC"
filed_at: "2026-07-23T12:48:00+00:00"
generated_at: "2026-07-23T12:50:05.545471+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Franklin Resources grants $15M retention equity to top execs; carry incentives for CEO and Chairman

## Summary
- CEO, Co-Presidents, and CFO/COO each receive ~$15M equity award (50% PSUs, 50% RSUs) with multi-year cliff vesting.
- CEO and Executive Chairman receive carry incentives tied to performance of private markets and alternative strategy funds.
- Awards are one-time, not part of regular annual comp; designed to retain core leadership over at least five years.
- PSUs vest after 3 years based on operating margin and relative TSR; RSUs vest after 5 years.
- Carry incentives are 100% at-risk, vest over 5 years, and require fund returns to exceed performance hurdles.

## SEC filing metadata
- accession: 0000038777-26-000194
- form_type: 8-K
- ticker: BEN
- cik: 0000038777
- company_name: FRANKLIN RESOURCES INC
- filed_at: 2026-07-23T12:48:00+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38777/000003877726000194/0000038777-26-000194-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38777/000003877726000194/ben-20260721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000038777-26-000194
- JSON: https://secwatch.observer/filing/0000038777-26-000194.json
- Plain text: https://secwatch.observer/filing/0000038777-26-000194.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.