Franklin Resources Grants $15M Retention Awards to Key Executives
Franklin Resources, Inc. has granted one-time special retention equity awards and carried interest allocations to its core leadership team, including the CEO, Executive Chairman, Co-Presidents, and CFO/COO. Each equity award has a grant date fair value of approximately $15 million, structured as 50% performance stock units and 50% time-based restricted stock units with vesting periods of three and five years, respectively. The carried interest allocations for the CEO and Executive Chairman are 100% at-risk and tied to the performance of the company's private markets and alternative strategy investment funds. These incentives are designed to retain key executives, reinforce strong financial performance, and align their compensation with the growth of the company's strategic private markets platforms.
Key Highlights
- Franklin Resources granted one-time special retention equity awards and carried interest allocations.
- Awards were given to the CEO, Executive Chairman, Co-Presidents, and CFO/COO.
- Each equity award has a grant date fair value of approximately $15 million.
- Equity awards are 50% performance stock units (PSUs) with 3-year cliff vesting and 50% time-based restricted stock units (RSUs) with 5-year cliff vesting.
- PSUs are tied to financial performance based on operating margin and relative total shareholder return.
- Carried interest allocations for the CEO and Executive Chairman are 100% at-risk, with a 5-year vesting schedule, linked to private markets performance.
- The awards aim to retain core leadership, reinforce financial performance, and align compensation with private markets and alternative strategy growth.
Price Impact
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