FELE

SEC source: 0000038725-23-000100 · wf-form4a_168366557300141.xml · nonDerivative · entry 2

Villavarayan Chris · CIK 0001641733 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,083

F1 · shares: Partial shares paid out in cash.

F2 · balance_after: Includes 3,083 shares owned outright.

SEC source: 0000038725-23-000100 · wf-form4a_168366557300141.xml · nonDerivative · entry 1

Villavarayan Chris · CIK 0001641733 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,083.87

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0000038725-23-000074 · wf-form4_168357821204555.xml · nonDerivative · entry 1

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 168,035

F1 · balance_after: Includes 11,069 restricted stock units that vest on 2/16/2026, 14,303 restricted stock units that vest on 2/24/2025, 13,946 restricted stock units that vest on 2/18/2024, and 128,717 owned outright.

SEC source: 0000038725-23-000069 · wf-form4_168331736382299.xml · nonDerivative · entry 1

davis delancey w · CIK 0001399052 · President, Headwater Companies

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,581

F1 · balance_after: Includes 1,489 restricted stock units that vest on 2/16/2026, 1,752 restricted stock units that vest on 2/24/2025, 1,928 restricted stock units that vest on 2/18/2024, and 6,412 shares owned outright.

SEC source: 0000038725-23-000090 · wf-form4_168358156061222.xml · nonDerivative · entry 1

Maskara Alok · CIK 0001594767 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,212

F1 · shares: Shares vest immediately as payment for the 2023 Board of Director stock award, retainer and committee chair/member fees. Mr. Maskara elected to receive all payments in common stock.

F2 · balance_after: Includes 8,212 shares owned outright.

SEC source: 0000038725-23-000086 · wf-form4_168357862491120.xml · derivative · entry 3

Villavarayan Chris · CIK 0001641733 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,695.44

Underlying: common stock · 2,449.57 shares

Expires not disclosed

F3 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 261.51 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F3 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 261.51 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F3 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 261.51 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000083 · wf-form4_168357845408563.xml · derivative · entry 1

Grizzle Victor · CIK 0001509566 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,627.82

Underlying: common stock · 2,412.21 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Grizzle elected to receive his 2023 Board of Directors retainer, annual stock award, and committee chair/member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2025, to be paid in a lump sum. On May 4, 2023, Mr. Grizzle was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 224.15 Stock Units for committee chair/member fees. At distribution, Mr. Grizzle may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Grizzle elected to receive his 2023 Board of Directors retainer, annual stock award, and committee chair/member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2025, to be paid in a lump sum. On May 4, 2023, Mr. Grizzle was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 224.15 Stock Units for committee chair/member fees. At distribution, Mr. Grizzle may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Grizzle elected to receive his 2023 Board of Directors retainer, annual stock award, and committee chair/member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2025, to be paid in a lump sum. On May 4, 2023, Mr. Grizzle was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 224.15 Stock Units for committee chair/member fees. At distribution, Mr. Grizzle may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000082 · wf-form4_168357842783986.xml · nonDerivative · entry 1

Wathen David M · CIK 0001326561 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,225

F1 · shares: Shares vest immediately as payment for the 2023 Board of Director stock award.

F2 · balance_after: Includes 3,225 shares owned outright.

SEC source: 0000038725-23-000081 · wf-form4_168357841738454.xml · derivative · entry 1

VERHAGE THOMAS R · CIK 0001282228 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 57,670.17

Underlying: common stock · 2,321.49 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 133.43 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 133.43 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 133.43 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000077 · wf-form4_168357823380380.xml · derivative · entry 1

PETERSON RENEE J · CIK 0001528002 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,496.69

Underlying: common stock · 2,428.22 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 240.16 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 240.16 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 240.16 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000075 · wf-form4_168357822371382.xml · derivative · entry 1

SHERMAN JENNIFER L · CIK 0001282554 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,229.53

Underlying: common stock · 2,556.3 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 128.09 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 128.09 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 128.09 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000102 · wf-form4a_168366559469289.xml · derivative · entry 1

VERHAGE THOMAS R · CIK 0001282228 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 57,734.21

Underlying: common stock · 2,385.53 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 197.47 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 197.47 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2023 Board of Directors retainer, stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 3, 2026, to be paid in a series of four annual installments. On May 4, 2023, Mr. VerHage was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 197.47 Stock Units for committee member fees. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferredcompensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000101 · wf-form4a_168366558443824.xml · derivative · entry 1

PETERSON RENEE J · CIK 0001528002 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,560.73

Underlying: common stock · 2,492.26 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 304.20 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 304.20 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2023 Board of Directors retainer, annual stock award, and committee chair fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until 2024, to be paid in a series of ten annual installments. On May 4, 2023, Ms. Peterson was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, and 304.20 Stock Units for committee chair fees. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000100 · wf-form4a_168366557300141.xml · derivative · entry 3

Villavarayan Chris · CIK 0001641733 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,631.4

Underlying: common stock · 2,385.53 shares

Expires not disclosed

F3 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 197.47 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F3 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 197.47 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F3 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2023 Board of Directors retainer, annual stock award, and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan. On May 4, 2023, Mr. Villavarayan was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award and 197.47 Stock Units for committee member fees. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000099 · wf-form4a_168366556121591.xml · derivative · entry 1

SHERMAN JENNIFER L · CIK 0001282554 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,165.49

Underlying: common stock · 2,492.26 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 64.05 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 64.05 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2023 Board of Directors retainer, stock award, lead independent director fee and committee member fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until January 1 of the year following Ms. Sherman's departure from the Board, to be paid in a series of five annual installments. On May 4, 2023, Ms. Sherman was credited with 800.51 Stock Units for the annual retainer, 1,387.55 Stock Units for the annual stock award, 240.15 Stock Units for the lead independent director fees, and 64.05 Stock Units for committee chair/member fees. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000062 · wf-form4_168296951824960.xml · nonDerivative · entry 2

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 177,035

F2 · balance_after: Includes 11,069 restricted stock units that vest on 2/16/2026, 14,303 restricted stock units that vest on 2/24/2025, 13,946 restricted stock units that vest on 2/18/2024, and 137,717 owned outright.

SEC source: 0000038725-23-000062 · wf-form4_168296951824960.xml · nonDerivative · entry 1

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 191,646

F1 · shares: Vest of Performance Share Units

SEC source: 0000038725-23-000060 · wf-form4_168296937431553.xml · nonDerivative · entry 2

Grandon Jonathan M. · CIK 0001625104 · Chief Administrative Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,292

F2 · balance_after: Includes 1,555 restricted shares that vest on 2/16/2026, 1,895 restricted shares that vest on 2/24/2025, 1,989 restricted shares that vest on 2/18/2024, and 12,853 shares owned outright.

SEC source: 0000038725-23-000060 · wf-form4_168296937431553.xml · nonDerivative · entry 1

Grandon Jonathan M. · CIK 0001625104 · Chief Administrative Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,285

F1 · shares: Vest of Performance Share Units

SEC source: 0000038725-23-000054 · wf-form4_168296895542623.xml · nonDerivative · entry 2

davis delancey w · CIK 0001399052 · President, Headwater Companies

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,831

F2 · balance_after: Includes 1,489 restricted stock units that vest on 2/16/2026, 1,752 restricted stock units that vest on 2/24/2025, 1,928 restricted stock units that vest on 2/18/2024, and 7,662 shares owned outright.

SEC source: 0000038725-23-000054 · wf-form4_168296895542623.xml · nonDerivative · entry 1

davis delancey w · CIK 0001399052 · President, Headwater Companies

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,663

F1 · shares: Vest of Performance Share Units

SEC source: 0000038725-23-000056 · wf-form4_168296905400426.xml · nonDerivative · entry 2

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,014

F2 · balance_after: Includes 2,504 restricted stock units that vest on 2/16/2026, 3,254 restricted stock units that vest on 2/24/2025, 3,589 restricted stock units that vest on 2/18/2024, and 17,667 shares owned outright.

SEC source: 0000038725-23-000056 · wf-form4_168296905400426.xml · nonDerivative · entry 1

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 30,556

F1 · shares: Vest of Performance Share Units

SEC source: 0000038725-23-000058 · wf-form4_168296927512192.xml · nonDerivative · entry 2

Walsh Jay J · CIK 0001775785 · President, Franklin Fueling

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,443

F2 · balance_after: Includes 1,153 restricted stock units that vest on 2/16/2026, 1,493 restricted stock units that vest on 2/24/2025, 1,641 restricted shares that vest on 2/18/2024, and 10,156 shares owned outright.

SEC source: 0000038725-23-000058 · wf-form4_168296927512192.xml · nonDerivative · entry 1

Walsh Jay J · CIK 0001775785 · President, Franklin Fueling

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,837

F1 · shares: Vest of Performance Share Units

SEC source: 0000038725-23-000048 · wf-form4_167873387267979.xml · nonDerivative · entry 3

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Indirect · 401K Shares

Disclosed balance after: 16,248

SEC source: 0000038725-23-000048 · wf-form4_167873387267979.xml · nonDerivative · entry 2

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,518

F1 · balance_after: Includes 2,504 restricted stock units that vest on 2/16/2026, 3,254 restricted stock units that vest on 2/24/2025, 3,589 restricted stock units that vest on 2/18/2024, and 13,171 shares owned outright.

SEC source: 0000038725-23-000048 · wf-form4_167873387267979.xml · nonDerivative · entry 1

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,918

SEC source: 0000038725-23-000045 · wf-form4_167831111546534.xml · nonDerivative · entry 1

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,318

F1 · balance_after: Includes 2,504 restricted stock units that vest on 2/16/2026, 3,254 restricted stock units that vest on 2/24/2025, 3,589 restricted stock units that vest on 2/18/2024, and 15,971 shares owned outright.

SEC source: 0000038725-23-000041 · wf-form4_167785498155279.xml · nonDerivative · entry 1

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 158,486

F1 · balance_after: Includes 11,069 restricted stock units that vest on 2/16/2026, 14,303 restricted stock units that vest on 2/24/2025, 13,946 restricted stock units that vest on 2/18/2024, and 119,168 owned outright.

SEC source: 0000038725-23-000039 · wf-form4_167759411848917.xml · nonDerivative · entry 1

SPIKES BRENT L · CIK 0001927460 · VP, Global Manufacturing Ops

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,006

F1 · balance_after: Includes 875 restricted shares that vest on 2/18/2024, 810 restricted shares that vest on 2/24/2025, 1,596 restricted shares that vest on 5/5/2025, and 725 restricted shares that vest on 2/16/2026.

SEC source: 0000038725-23-000037 · wf-form4_167725345054171.xml · nonDerivative · entry 1

KEENE KENNETH · CIK 0001927485 · VP, Global Supply Chain

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,272

F1 · balance_after: Includes 820 restricted stock units that vest on 2/18/2024, 810 restricted stock units that vest on 2/24/2025, 1,596 restricted stock units that vest on 5/5/2025, 659 restricted stock units that vest on 2/16/2023, and 387 shares owned outright.

SEC source: 0000038725-23-000032 · wf-form4_167701731249579.xml · nonDerivative · entry 3

davis delancey w · CIK 0001399052 · President, Headwater Companies

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,291

F3 · balance_after: Includes 1,489 restricted stock units that vest on 2/16/2026, 1,752 restricted stock units that vest on 2/24/2025, 1,928 restricted stock units that vest on 2/18/2024, and 5,122 shares owned outright.

SEC source: 0000038725-23-000032 · wf-form4_167701731249579.xml · nonDerivative · entry 2

davis delancey w · CIK 0001399052 · President, Headwater Companies

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,266

F2 · shares: Vest of restricted stock units.

SEC source: 0000038725-23-000031 · wf-form4_167701730178265.xml · nonDerivative · entry 3

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 167,732

F3 · balance_after: Includes 11,069 restricted stock units that vest on 2/16/2026, 14,303 restricted stock units that vest on 2/24/2025, 13,946 restricted stock units that vest on 2/18/2024, and 128,414 owned outright.

SEC source: 0000038725-23-000031 · wf-form4_167701730178265.xml · nonDerivative · entry 2

SENGSTACK GREGG C · CIK 0001189242 · Chairperson and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 175,066

F2 · shares: Vest of restricted stock units.

SEC source: 0000038725-23-000024 · wf-form4_167701716429898.xml · nonDerivative · entry 3

SPIKES BRENT L · CIK 0001927460 · VP, Global Manufacturing Ops

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,585

F3 · balance_after: Includes 875 restricted shares that vest on 2/18/2024, 810 restricted shares that vest on 2/24/2025, 1,596 restricted shares that vest on 5/5/2025, 725 restricted shares that vest on 2/16/2026, and 579 shares owned outright.

SEC source: 0000038725-23-000024 · wf-form4_167701716429898.xml · nonDerivative · entry 2

SPIKES BRENT L · CIK 0001927460 · VP, Global Manufacturing Ops

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,011

F2 · shares: Vest of restricted shares.

SEC source: 0000038725-23-000027 · wf-form4_167701721627373.xml · nonDerivative · entry 3

KEENE KENNETH · CIK 0001927485 · VP, Global Supply Chain

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,421

F3 · balance_after: Includes 820 restricted stock units that vest on 2/18/2024, 810 restricted stock units that vest on 2/24/2025, 1,596 restricted stock units that vest on 5/5/2025, 659 restricted stock units that vest on 2/16/2023, and 1,536 shares owned outright.

SEC source: 0000038725-23-000027 · wf-form4_167701721627373.xml · nonDerivative · entry 2

KEENE KENNETH · CIK 0001927485 · VP, Global Supply Chain

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,771

F2 · shares: Vest of restricted stock units.

SEC source: 0000038725-23-000021 · wf-form4_167701705133342.xml · nonDerivative · entry 3

Grandon Jonathan M. · CIK 0001625104 · Chief Administrative Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,713

F3 · balance_after: Includes 1,555 restricted shares that vest on 2/16/2026, 1,895 restricted shares that vest on 2/24/2025, 1,989 restricted shares that vest on 2/18/2024, and 10,274 shares owned outright.

SEC source: 0000038725-23-000021 · wf-form4_167701705133342.xml · nonDerivative · entry 2

Grandon Jonathan M. · CIK 0001625104 · Chief Administrative Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,608

F2 · shares: Vest of restricted shares.

SEC source: 0000038725-23-000022 · wf-form4_167701707064259.xml · nonDerivative · entry 3

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,910

F3 · balance_after: Includes 2,504 restricted stock units that vest on 2/16/2026, 3,254 restricted stock units that vest on 2/24/2025, 3,589 restricted stock units that vest on 2/18/2024, and 18,563 shares owned outright.

SEC source: 0000038725-23-000022 · wf-form4_167701707064259.xml · nonDerivative · entry 2

Kenney Donald P · CIK 0001608971 · VP & President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,736

F2 · shares: Vest of restricted stock units.

SEC source: 0000038725-23-000020 · wf-form4_167701694361277.xml · nonDerivative · entry 3

Walsh Jay J · CIK 0001775785 · President, Franklin Fueling

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,873

F3 · balance_after: Includes 1,153 restricted stock units that vest on 2/16/2026, 1,493 restricted stock units that vest on 2/24/2025, 1,641 restricted shares that vest on 2/18/2024, and 8,586 shares owned outright.

SEC source: 0000038725-23-000020 · wf-form4_167701694361277.xml · nonDerivative · entry 2

Walsh Jay J · CIK 0001775785 · President, Franklin Fueling

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,487

F2 · shares: Vest of restricted shares.

SEC source: 0000038725-23-000013 · wf-form4_167666306729412.xml · derivative · entry 1

PETERSON RENEE J · CIK 0001528002 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,068.47

Underlying: common stock · 82.98 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2015-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Peterson was credited with 82.98 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2015-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Peterson was credited with 82.98 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Peterson elected to receive her 2015-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Peterson was credited with 82.98 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Peterson may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000014 · wf-form4_167666307488653.xml · derivative · entry 1

SHERMAN JENNIFER L · CIK 0001282554 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,673.23

Underlying: common stock · 89.15 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2014-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Sherman was credited with 89.15 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2014-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Sherman was credited with 89.15 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Ms. Sherman elected to receive her 2014-2022 stock award, meeting fees, and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until she retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Ms. Sherman was credited with 89.15 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Ms. Sherman may elect pursuant to the terms of the Plan to receive her deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000010 · wf-form4_167666299490943.xml · derivative · entry 1

VERHAGE THOMAS R · CIK 0001282228 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 55,348.68

Underlying: common stock · 130.97 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2011-2020 stock award, meeting fees and retainer and his 2021-2022 stock award, meeting fees, retainer and lead independent director fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. VerHage was credited with 130.97 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2011-2020 stock award, meeting fees and retainer and his 2021-2022 stock award, meeting fees, retainer and lead independent director fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. VerHage was credited with 130.97 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. VerHage elected to receive his 2011-2020 stock award, meeting fees and retainer and his 2021-2022 stock award, meeting fees, retainer and lead independent director fees in Franklin Electric Co., Inc. common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. VerHage was credited with 130.97 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. VerHage may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

SEC source: 0000038725-23-000009 · wf-form4_167666293802688.xml · derivative · entry 1

Villavarayan Chris · CIK 0001641733 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,245.87

Underlying: common stock · 2.95 shares

Expires not disclosed

F1 · derivative.exercise_price: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2022 meeting fees and retainer in Franklin Electric Co., Inc common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. Villavarayan was credited with 2.95 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.exercise_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2022 meeting fees and retainer in Franklin Electric Co., Inc common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. Villavarayan was credited with 2.95 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

F1 · derivative.expiration_date: Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Villavarayan elected to receive his 2022 meeting fees and retainer in Franklin Electric Co., Inc common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On February 16, 2023, Mr. Villavarayan was credited with 2.95 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. Villavarayan may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.