Jeffrey White
Chief Financial Officer, Chief Accounting Officer and Treasurer at FRANKLIN UNIVERSAL TRUST
Executive
About Jeffrey White
Jeffrey W. White (born 1971) serves as Chief Financial Officer, Chief Accounting Officer, and Treasurer of Franklin Universal Trust (FT), appointed in 2024; he previously served as Director and Assistant Treasurer within Franklin Templeton Global Fund Tax and Fund Administration and Financial Reporting from 2017–2023 . Officers of the Fund are appointed by the Trustees and serve at the pleasure of the Board . FT’s proxy states officer compensation is paid by Franklin Advisers, Inc. or its affiliates; the Fund does not accrue pension or retirement benefits as part of Fund expenses . Fund-level TSR or operating metrics are not presented in the proxy; shareholders can access audited financials and annual reports via FT’s website .
Past Roles
| Organization | Role | Years | Strategic Impact / Description |
|---|---|---|---|
| Franklin Templeton (Global Fund Tax & Fund Administration and Financial Reporting) | Director and Assistant Treasurer | 2017–2023 | “Director and Assistant Treasurer within Franklin Templeton Global Fund Tax and Fund Administration and Financial Reporting” |
External Roles
- No external directorships or outside roles are disclosed for Jeffrey W. White in FT’s proxy statements reviewed .
Fixed Compensation
- Officers’ salaries and expenses are paid by Franklin Advisers, Inc. (the Investment Manager) or its affiliates; no pension or retirement benefits are accrued as part of Fund expenses .
- FT proxy statements do not provide base salary, bonus, or equity award amounts for Fund officers (compensation is not a Fund expense) .
Performance Compensation
- No disclosure of incentive plan metrics (e.g., revenue growth, EBITDA, TSR), bonus targets, PSUs/RSUs, or option awards tied to Jeffrey W. White appears in FT proxy statements .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| FT shares outstanding (record date) | 25,131,894 (as of Jan 10, 2025) |
| Officers and Trustees as a group – ownership | Less than 1% of FT shares (as of Jan 10, 2025) |
| Trustee holding policy | Independent Trustees must invest portions of fees in Franklin Templeton funds until holdings ≥ 5× annual retainer and meeting fees (three-year phase-in for new trustees) |
- Officer-level beneficial ownership detail (vested/unvested, options, pledging) for Jeffrey W. White is not disclosed in FT proxies .
Employment Terms
| Term | Details |
|---|---|
| Position(s) | Chief Financial Officer, Chief Accounting Officer, and Treasurer |
| Start date in current role | Since January 2024 |
| Appointment | Officers are appointed by the Trustees and serve at the pleasure of the Board |
| Contract term length / expiration | Not disclosed |
| Non-compete / non-solicit / garden leave | Not disclosed |
| Severance / change-of-control | Not disclosed |
Governance attestations and filings (demonstrating scope of responsibilities)
| Document | Statement/Signature | Date |
|---|---|---|
| Rule 17f‑2 Management Statement (Custody Compliance) | Signed as CFO, CAO & Treasurer across Franklin & Templeton Fund Boards | Apr 28, 2025 |
| Rule 17f‑2 Management Statement (Custody Compliance) | Signed as CFO, CAO & Treasurer across Franklin & Templeton Fund Boards | Apr 28, 2025 |
| Rule 17f‑2 Management Statement (Custody Compliance) | Signed as CFO, CAO & Treasurer across Franklin & Templeton Fund Boards | Aug 5, 2025 |
Investment Implications
- Pay transparency and direct pay-for-performance linkage are limited at the Fund level: officer compensation is borne by Franklin Advisers (not reported in FT’s expenses), and no bonus metrics or equity grants tied to Fund performance are disclosed—reducing direct visibility into incentive alignment with FT shareholders .
- Direct equity alignment appears limited at the Fund level: officers and Trustees collectively own less than 1% of FT shares; while Trustees follow a holdings policy across Franklin Templeton funds, officer-level FT ownership for White is not disclosed—suggesting low insider selling pressure but also minimal share-based alignment at FT specifically .
- Role scope and continuity: White’s signatures on multiple Rule 17f‑2 custody compliance statements across the Franklin Templeton complex in 2025 indicate centralized, ongoing finance and control responsibilities, consistent with internal promotion from fund tax/admin functions—supporting operational continuity and execution reliability within the fund complex .
- Key data gaps for trading/retention signals: no disclosures on severance/change-of-control economics, vesting schedules, equity award overhang, or hedging/pledging—monitor future proxies or Section 16 filings for any updates .