FRANKLIN RESOURCES, INC. (NYSE:BEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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FRANKLIN RESOURCES, INC. (NYSE:BEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

FRANKLIN RESOURCES, INC. (NYSE:BEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

Departure of Officer
On March 12, 2019, Kenneth A. Lewis, Executive Vice President and Chief Financial Officer of Franklin Resources, Inc. (the Company), notified the Company of his retirement from his position as Executive Vice President and Chief Financial Officer of the Company effective as of May 6, 2019. He plans to serve in an advisory capacity through a period of transition.
Appointment of Officer
On March 13, 2019, Matthew Nicholls was appointed Executive Vice President and Chief Financial Officer of the Company, effective as of May 6, 2019. Mr. Nicholls, 46 years of age, has been employed by Citigroup, Inc. since 1995. Since 2017, he was the Managing Director, Global Head of Financial Institutions, Corporate/Finance Banking, and Global Head of Asset Management, Corporate and Investment Banking. From 2014 to 2017, he was Managing Director, Co-Head, Financial Institutions Corporate and Investment Banking, North America, and Global Head of Asset Management.
Mr. Nicholls initially will receive compensation including an annual base salary of $525,000, an annual bonus of $2.6 million, a restricted stock grant valued at $1.5 million, a long term performance award of $375,000, relocation expenses estimated at up to $179,200, and generally will be able to participate in the Companys benefit plans.
On March 18, 2019, the Company issued the attached press release announcing the retirement of Mr. Lewis and the appointment of Mr. Nicholls.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The exhibit listed on the Exhibit Index is incorporated herein by reference.
Exhibit Index
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FRANKLIN RESOURCES INC Exhibit
EX-99.1 2 exhibit99131819.htm PRESS RELEASE Exhibit EXHIBIT 99.1Contact:Franklin Resources,…
To view the full exhibit click here

About FRANKLIN RESOURCES, INC. (NYSE:BEN)

Franklin Resources, Inc. is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world. The Company offers its investment products and services under the Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2 and LibertyShares brand names. Its products include investment funds and institutional, high net-worth and separately managed accounts (collectively, sponsored investment products (SIPs)). It offers various types of SIPs, such as the United States funds, cross-border funds, local/regional funds, and other managed accounts, alternative investment products and trusts. Its investment funds include the United States-registered funds, non-United States-registered funds and unregistered funds.