7 unchanged sentences
Generally, each executive officer is appointed by our board of directors and holds his or her office until the earlier of his or her death, resignation, retirement, disqualification or removal.
−Removed: President of Franklin since December 2016, and Chief Executive Officer and director of Franklin since February 2020;
−Removed: formerly, Chief Operating Officer of Franklin from February 2017 to February 2020, Co-President of Franklin from October 2015 to December 2016, Executive Vice President and Chief Operating Officer of Franklin from March 2010 to September 2015, Executive Vice President – Operations and Technology of Franklin from December 2005 to March 2010, and Senior Vice President and Chief Information Officer of Franklin from May 2003 to December 2005;
+Added: Chief Executive Officer and director of Franklin since February 2020;
+Added: formerly, President of Franklin from December 2016 to October 2025, Chief Operating Officer of Franklin from February 2017 to February 2020, Co-President of Franklin from October 2015 to December 2016, Executive Vice President and Chief Operating Officer of Franklin from March 2010 to September 2015, Executive Vice President – Operations and Technology of Franklin from December 2005 to March 2010, and Senior Vice President and Chief Information Officer of Franklin from May 2003 to December 2005;
officer and/or director of certain subsidiaries of Franklin;
10 unchanged sentences
officer, director and/or trustee of certain funds registered as investment companies managed or advised by subsidiaries of Franklin.
−Removed: Executive Vice President and General Counsel of Franklin since May 2022 and Corporate Secretary since July 2021, and oversaw global regulatory compliance of Franklin as Deputy General Counsel from August 2020 to May 2022;
−Removed: officer and/or director of certain subsidiaries of Franklin.
−Removed: Formerly, General Counsel and Executive Vice President of Legg Mason, Inc.
−Removed: from 2013 and Secretary from 2008, until its acquisition by Franklin Templeton in July 2020;
−Removed: joined Legg Mason as Associate General Counsel in 1998, serving as Corporate General Counsel and Deputy General Counsel.
−Removed: Formerly, served as a Corporate Associate at Shearman & Sterling, a law firm, in New York from 1993 to 1998.
−Removed: Executive Vice President and Head of Public Markets of Franklin since February 2023 and executive officer of Franklin since October 2022;
+Added: Co-President and Chief Commercial Officer of Franklin since October 2025;
+Added: formerly, President of Northern Trust Asset Management and Executive Vice President of Northern Trust Corporation financial services firms from April 2023 to September 2025;
+Added: and formerly spent over two decades at Blackrock, Inc.
+Added: financial services firm where, among other roles, he served as Co-Head of Fundamental Equities from 2020 to February 2023, Global Head of Active Equity Product Strategy from 2016 to 2020, and Head of Americas Institutional iShares Business and Co-Head iShares U.S.
+Added: from 2011 to 2016.
+Added: Co-President of Franklin since October 2025 and Head of Public Market Investments of Franklin since October 2022;
Chairman since 2014 and Chief Executive Officer and President since 2012 of ClearBridge Investments, LLC, a subsidiary of Franklin;
officer and/or director of certain other subsidiaries of Franklin.
−Removed: Formerly, Chief Operating Officer and Chief Financial Officer of ClearBridge from 2006 to 2011, Chief Financial Officer of Citigroup Asset Management (a financial services firm) from 2005 to 2006 and Director of Planning from 2000 to 2005;
+Added: Formerly, Executive Vice President of Franklin from October 2022 to October 2025, Chief Operating Officer and Chief Financial Officer of ClearBridge from 2006 to 2011, Chief Financial Officer of Citigroup Asset Management a financial services firm from 2005 to 2006 and Director of Planning from 2000 to 2005;
and business Controller for various product lines at Citigroup’s Corporate and Investment Bank from 1997 to 2000.
Matthew Nicholls
−Removed: Executive Vice President and Chief Financial Officer of Franklin since May 2019 and Chief Operating Officer since April 2022;
+Added: Co-President of Franklin since October 2025, Chief Financial Officer of Franklin since May 2019 and Chief Operating Officer since April 2022;
officer and/or director of certain subsidiaries of Franklin.
−Removed: Formerly, with Citigroup, Inc.
+Added: Formerly, Executive Vice President of Franklin from May 2019 to October 2025, and formerly with Citigroup, Inc.
a financial services firm from 1995 to May 2019, as Managing Director, Global Head of Financial Institutions, Corporate Banking, and Global Head of Asset Management, Corporate and Investment Banking, from 2017 to May 2019, as Managing Director, Co-Head, Financial Institutions Corporate and Investment Banking, North America, and Global Head of Asset Management, Corporate and Investment Banking, from 2014 to 2017, as Managing Director, Co-Head, North America, Financial Institutions Corporate and Investment Banking from 2011 to 2014, as Managing Director and Co-Head, North America, Financial Institutions Corporate Banking from 2007 to 2011, and as Managing Director and Co-Head of Asset Management Banking from 2006 to 2007.
−Removed: Executive Vice President and Head of Global Operations of Franklin since February 2023;
−Removed: formerly, Executive Vice President, Technology and Operations, of Franklin from October 2021 to February 2023;
−Removed: officer and/or director of various investment adviser, operations, and technology related subsidiaries of Franklin for more than the past five years, including as Senior Vice President of Franklin Advisers, Inc., Franklin Templeton Institutional, LLC and Templeton Investment Counsel, LLC since July 2014, and Vice President of Franklin Templeton Companies, LLC since June 2010.
−Removed: Executive Vice President and Head of Global Distribution of Franklin since February 2023, responsible for global retail and institutional distribution, including marketing and product strategy;
−Removed: formerly, Managing Partner of Brandywine Global Investment Management, LLC from November 2014 to January 2024, responsible for the overall management of Brandywine including infrastructure, legal and compliance, business strategy, and sales and client service;
−Removed: Executive Vice President of Global Advisory Services of Franklin from October 2020 to February 2023;
−Removed: Managing Director of Brandywine from 2012 to 2014, Head of Marketing, Sales and Client Service of Brandywine from 2003 to 2014, and Senior Vice President of Client Service of Brandywine from 1997 to 2003;
−Removed: officer and/or director of certain other subsidiaries of Franklin.
+Added: Executive Vice President and General Counsel of Franklin since May 2022 and Assistant Secretary since December 2024;
+Added: formerly, Corporate Secretary from July 2021 to December 2024;
+Added: oversaw global regulatory compliance of Franklin as Deputy General Counsel from August 2020 to May 2022;
+Added: officer and/or director of certain subsidiaries of Franklin.
+Added: Formerly, General Counsel and Executive Vice President of Legg Mason, Inc.
+Added: from 2013 and Secretary from 2008, until its acquisition by Franklin Templeton in July 2020;
+Added: joined Legg Mason as Associate General Counsel in 1998, serving as Corporate General Counsel and Deputy General Counsel.
+Added: Formerly, served as a Corporate Associate at Shearman & Sterling, a law firm, in New York from 1993 to 1998.
Family Relationships
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.