Filing Details

Accession Number:
0000038777-19-000001
Form Type:
13G Filing
Publication Date:
2019-01-09 11:02:20
Filed By:
Franklin Resources Inc
Company:
Fate Therapeutics Inc (NASDAQ:FATE)
Filing Date:
2019-01-09
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Franklin Resources, Inc 3,244,706 0 3,244,706 0 3,244,706 5.0%
Charles B. Johnson 3,244,706 5.0%
Rupert H. Johnson, Jr 3,244,706 5.0%
Franklin Advisers, Inc 3,244,706 5.0%
Filing

 

 

          CUSIP NO. 31189P102                       13G                             Page 1 of 14

 

 

                                                                                   UNITED STATES

                                                              SECURITIES AND EXCHANGE COMMISSION

                                                                          Washington, D.C. 20549

 

                                                                                    SCHEDULE 13G

 

                                                       Under the Securities Exchange Act of 1934

                                                                              (Amendment No. 3)*

 

                                                                         FATE THERAPEUTICS, INC.

                                                                                (Name of Issuer)

 

                                                                  Common Stock, $0.001 par value

                                                                  (Title of Class of Securities)

 

                                                                                       31189P102

                                                                                  (CUSIP Number)

 

                                                                               December 31, 2018

                                         (Date of Event Which Requires Filing of this Statement)

 

             Check the appropriate box to designate the rule pursuant to which this Schedule is

             filed:

             [X] Rule 13d‑1(b)

             [ ] Rule 13d‑1(c)

             [ ] Rule 13d‑1(d)

 

             *The remainder of this cover page shall be filled out for a reporting person's

             initial filing on this form with respect to the subject class of securities, and

             for any subsequent amendment containing information which would alter the

             disclosures provided in a prior cover page.

 

             The information required in the remainder of this cover page shall not be deemed to

             be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934

             ("Act") or otherwise subject to the liabilities of that section of the Act but

             shall be subject to all other provisions of the Act (however, see the Notes).

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 2 of 14

 

 

          1.    NAMES OF REPORTING PERSONS.

 

                      Franklin Resources, Inc.

 

          2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

                      (a)

                      (b) X

 

          3.    SEC USE ONLY

 

          4.    CITIZENSHIP OR PLACE OF ORGANIZATION

 

                      Delaware

 

          NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

                      5.     SOLE VOTING POWER

 

                                    (See Item 4)

 

                      6.     SHARED VOTING POWER

 

                                    (See Item 4)

 

                      7.     SOLE DISPOSITIVE POWER

 

                                    (See Item 4)

 

                      8.     SHARED DISPOSITIVE POWER

 

                                    (See Item 4)

 

          9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

                     3,244,706

 

          10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

                      CERTAIN SHARES [ ]

 

          11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

                      5.0%

 

          12.   TYPE OF REPORTING PERSON

 

                      HC, CO (See Item 4)

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 3 of 14

 

 

          1.    NAMES OF REPORTING PERSONS.    

 

                      Charles B. Johnson

 

          2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

                      (a)

                      (b) X

 

          3.    SEC USE ONLY

 

          4.    CITIZENSHIP OR PLACE OF ORGANIZATION

 

                      USA

 

          NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

                      5.    SOLE VOTING POWER

 

                                 (See Item 4)

 

                      6.    SHARED VOTING POWER

 

                                 (See Item 4)

 

                      7.    SOLE DISPOSITIVE POWER

 

                                 (See Item 4)

 

                      8.    SHARED DISPOSITIVE POWER

 

                                 (See Item 4)

 

          9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

                    3,244,706

 

          10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

                     CERTAIN SHARES [ ]

 

          11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

                     5.0%

 

          12.   TYPE OF REPORTING PERSON

 

                     HC, IN (See Item 4)

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 4 of 14

 

 

          1.    NAMES OF REPORTING PERSONS.    

 

                      Rupert H. Johnson, Jr.

 

          2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

                      (a)

                      (b) X

          3.    SEC USE ONLY

 

          4.    CITIZENSHIP OR PLACE OF ORGANIZATION

 

                      USA

 

          NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

                      5.    SOLE VOTING POWER

 

                                  (See Item 4)

 

                      6.    SHARED VOTING POWER

 

                                  (See Item 4)

 

                      7.    SOLE DISPOSITIVE POWER

 

                                  (See Item 4)

 

                      8.    SHARED DISPOSITIVE POWER

 

                                  (See Item 4)

 

          9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

                     3,244,706

 

          10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

                      CERTAIN SHARES [ ]

 

          11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

                      5.0%

 

          12.   TYPE OF REPORTING PERSON

 

                      HC, IN (See Item 4)

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 5 of 14

 

 

          1.    NAMES OF REPORTING PERSONS.    

 

                      Franklin Advisers, Inc.

 

          2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

                      (a)

                      (b) X

 

          3.    SEC USE ONLY

 

          4.    CITIZENSHIP OR PLACE OF ORGANIZATION

 

                      California

 

          NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 

                      5.    SOLE VOTING POWER

 

                                  3,244,706

 

                      6.    SHARED VOTING POWER

 

                                 0

 

                      7.    SOLE DISPOSITIVE POWER

 

                                  3,244,706

 

                      8.    SHARED DISPOSITIVE POWER

 

                                 0

 

          9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

                     3,244,706

 

          10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

                      CERTAIN SHARES [ ]

 

          11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

                      5.0%

 

          12.   TYPE OF REPORTING PERSON

 

                      IA, CO (See Item 4)

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 6 of 14

 

 

          Item 1.

 

          (a)   Name of Issuer

 

                      FATE THERAPEUTICS, INC.

 

          (b)   Address of Issuer's Principal Executive Offices

 

           3535 General Atomics Court, Suite 200

           San Diego, CA 92121

    

 

          Item 2.

 

          (a)   Name of Person Filing

 

                      (i):   Franklin Resources, Inc.

 

                      (ii):  Charles B. Johnson

 

                      (iii): Rupert H. Johnson, Jr.

 

                      (iv):  Franklin Advisers, Inc.

 

 

          (b)   Address of Principal Business Office or, if none, Residence

 

                      (i), (ii), and (iii):

                      One Franklin Parkway

                      San Mateo, CA 94403‑1906

 

                      (iv):  One Franklin Parkway

                                    San Mateo, CA  94403‑1906

 

          (c)   Citizenship

 

                      (i):     Delaware

 

                      (ii) and (iii): USA

                      (iv): California

 

          (d)   Title of Class of Securities

 

                      Common Stock, $0.001 par value

 

          (e)   CUSIP Number

 

                      31189P102

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 7 of 14

 

 

          Item 3. If this statement is filed pursuant to §§240.13d‑1(b) or 240.13d‑2(b) or (c),

                          check whether the person filing is a:

                        (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 

                        (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

                        (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.

                                        78c).

 

                        (d) [ ] Investment company registered under section 8 of the Investment Company

                                        Act of 1940 (15 U.S.C 80a‑8).

 

                        (e) [X] An investment adviser in accordance with §240.13d‑1(b)(1)(ii)(E);

 

                        (f) [ ] An employee benefit plan or endowment fund in accordance with

                                        §240.13d‑1(b)(1)(ii)(F);

 

                        (g) [X] A parent holding company or control person in accordance with

                                        §240.13d‑1(b)(1)(ii)(G);

 

                        (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit

                                        Insurance Act (12 U.S.C. 1813);

 

                        (i) [ ] A church plan that is excluded from the definition of an investment

                                        company under section 3(c)(14) of the Investment Company Act of 1940 (15

                                        U.S.C. 80a‑3);

 

                        (j) [ ] A non‑U.S. institution in accordance with §240.13d‑1(b)(ii)(J);

 

                        (k) [ ] Group, in accordance with §240.13d 1(b)(1)(ii)(K).

 

                        If filing as a non‑U.S. institution in accordance with §240.13d‑1(b)(1)(ii) (J).

                        please specify the type of institution:

 

          Item 4. Ownership

 

          The securities reported herein are beneficially owned by one or more open‑ or closed‑end

          investment companies or other managed accounts that are investment management clients of

          investment managers that are direct and indirect subsidiaries (each, an “Investment

          Management Subsidiary” and, collectively, the “Investment Management Subsidiaries”) of

          Franklin Resources Inc. (“FRI”), including the Investment Management Subsidiaries listed

          in this Item 4.  When an investment management contract (including a sub‑advisory

          agreement) delegates to an Investment Management Subsidiary investment discretion or

          voting power over the securities held in the investment advisory accounts that are

          subject to that agreement, FRI treats the Investment Management Subsidiary as having sole

          investment discretion or voting authority, as the case may be, unless the agreement

          specifies otherwise. Accordingly, each Investment Management Subsidiary reports on

          Schedule 13G that it has sole investment discretion and voting authority over the

          securities covered by any such investment management agreement, unless otherwise noted in

          this Item 4.  As a result, for purposes of Rule 13d‑3 under the Act, the Investment

          Management Subsidiaries listed in this Item 4 may be deemed to be the beneficial owners

          of the securities reported in this Schedule 13G.

 

          Beneficial ownership by Investment Management Subsidiaries and other FRI affiliates is

          being reported in conformity with the guidelines articulated by the SEC staff in Release

          No. 34‑39538 (January 12, 1998) relating to organizations, such as FRI, where related

          entities exercise voting and investment powers over the securities being reported

          independently from each other.  The voting and investment powers held by Franklin Mutual

          Advisers, LLC (“FMA”), an indirect wholly‑owned Investment Management Subsidiary, are

          exercised independently from FRI and from all other Investment Management Subsidiaries

          (FRI, its affiliates and the Investment Management Subsidiaries other than FMA are

          collectively, “FRI affiliates”). Furthermore, internal policies and procedures of FMA and

          FRI establish informational barriers that prevent the flow between FMA and the FRI

          affiliates of information that relates to the voting and investment powers over the

          securities owned by their respective management clients. Consequently, FMA and FRI

          affiliates report the securities over which they hold investment and voting power

          separately from each other for purposes of Section 13 of the Act.


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 8 of 14

 

          Charles B. Johnson and Rupert H. Johnson, Jr. (the “Principal Shareholders”) each own in

          excess of 10% of the outstanding common stock of FRI and are the principal stockholders

          of FRI.  FRI and the Principal Shareholders may be deemed to be, for purposes of Rule

          13d‑3 under the Act, the beneficial owners of securities held by persons and entities for

          whom or for which FRI subsidiaries provide investment management services.  The number of

          shares that may be deemed to be beneficially owned and the percentage of the class of

          which such shares are a part are reported in Items 9 and 11 of the cover pages for FRI

          and each of the Principal Shareholders.  FRI, the Principal Shareholders and each of the

          Investment Management Subsidiaries disclaim any pecuniary interest in any of the such

          securities.  In addition, the filing of this Schedule 13G on behalf of the Principal

          Shareholders, FRI and the FRI affiliates, as applicable, should not be construed as an

          admission that any of them is, and each of them disclaims that it is, the beneficial

          owner, as defined in Rule 13d‑3, of any of the securities reported in this Schedule 13G.

 

          FRI, the Principal Shareholders, and each of the Investment Management Subsidiaries

          believe that they are not a “group” within the meaning of Rule 13d‑5 under the Act and

          that they are not otherwise required to attribute to each other the beneficial ownership

          of the securities held by any of them or by any persons or entities for whom or for which

          the Investment Management Subsidiaries provide investment management services.

 

                    (a)     Amount beneficially owned:

 

                                   3,244,706

 

                    (b)     Percent of class:

 

                                    5.0%

 

                    (c)     Number of shares as to which the person has:

 

                                (i)  Sole power to vote or to direct the vote

 

                                          Franklin Resources, Inc.:                                         0

 

                                          Charles B. Johnson:                                               0

 

                                          Rupert H. Johnson, Jr.:                                           0

 

                                          Franklin Advisers, Inc.:                                  3,244,706

 

 

                              (ii)  Shared power to vote or to direct the vote

 

                                           0

 

 

                            (iii)  Sole power to dispose or to direct the disposition of

 

                                          Franklin Resources, Inc.:                                         0

 

                                          Charles B. Johnson:                                               0

 

                                          Rupert H. Johnson, Jr.:                                           0

 

                                          Franklin Advisers, Inc.:                                  3,244,706

 

                               (iv)  Shared power to dispose or to direct the disposition of

 

                                           0

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 9 of 14

 

 

          Item 5.  Ownership of Five Percent or Less of a Class

 

                           If this statement is being filed to report the fact that as of the date hereof

                           the reporting person has ceased to be the beneficial owner of more than five

                           percent of the class of securities, check the following [ ].  Not Applicable

 

          Item 6.  Ownership of More than Five Percent on Behalf of Another Person

 

                           The clients of the Investment Management Subsidiaries, including investment

                           companies registered under the Investment Company Act of 1940 and other managed

                           accounts, have the right to receive or power to direct the receipt of dividends

                           from, and the proceeds from the sale of, the securities reported herein. 

 

 

          Item 7. Identification and Classification of the Subsidiary Which Acquired the Security

                           Being Reported on By the Parent Holding Company

 

                           See Attached Exhibit C

 

          Item 8. Identification and Classification of Members of the Group

 

                           Not Applicable

 

          Item 9. Notice of Dissolution of Group

 

                           Not Applicable


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 10 of 14

 

          Item 10.  Certification

 

          By signing below I certify that, to the best of my knowledge and belief, the securities

          referred to above were acquired and are held in the ordinary course of business and were

          not acquired and are not held for the purpose of or with the effect of changing or

          influencing the control of the issuer of the securities and were not acquired and are not

          held in connection with or as a participant in any transaction having that purpose or

          effect.

 

         

          This report shall not be construed as an admission by the persons filing the report that

          they are the beneficial owner of any securities covered by this report.

 

          Exhibits.

                            Exhibit A Joint Filing Agreement

                            Exhibit B Limited Powers of Attorney for Section 13 Reporting Obligations

                            Exhibit C Item 7 Identification and Classification of Subsidiaries

 

                                                                                    SIGNATURE

 

          After reasonable inquiry and to the best of my knowledge and belief, I certify that the

          information set forth in this statement is true, complete and correct.

 

          Dated:  January 8, 2019

 

          Franklin Resources, Inc.

 

          Charles B. Johnson

 

          Rupert H. Johnson, Jr.

 

 

          Franklin Advisers, Inc.

 

 

 

          By:    /s/MARIA GRAY

                         ‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑

                         Maria Gray

                         Vice President and Secretary of Franklin Resources, Inc.

 

                         Attorney‑in‑Fact for Charles B. Johnson pursuant to Power of Attorney attached to

                         this Schedule 13G

 

                         Attorney‑in‑Fact for Rupert H. Johnson, Jr. pursuant to Power of Attorney

                         attached to this Schedule 13G

 

            Secretary of Franklin Advisers, Inc.

 

           

 

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 11 of 14

 

 

          EXHIBIT A

 

          JOINT FILING AGREEMENT

 

          In accordance with Rule 13d‑1(k) under the Securities Exchange Act of 1934, as amended,

          the undersigned hereby agree to the joint filing with each other of the attached

          statement on Schedule 13G and to all amendments to such statement and that such statement

          and all amendments to such statement are made on behalf of each of them.

 

          IN WITNESS WHEREOF, the undersigned have executed this agreement on January 8, 2019.

 

          Franklin Resources, Inc.

 

          Charles B. Johnson

 

          Rupert H. Johnson, Jr.

 

          Franklin Advisers, Inc.

 

 

          By:     /s/MARIA GRAY 

                          ‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑‑

                          Maria Gray

                          Vice President and Secretary of Franklin Resources, Inc.

 

                          Attorney‑in‑Fact for Charles B. Johnson pursuant to Power of Attorney attached to

                          this Schedule 13G

 

                          Attorney‑in‑Fact for Rupert H. Johnson, Jr. pursuant to Power of Attorney

                          attached to this Schedule 13G

 

             Secretary of Franklin Advisers, Inc.

                                                            


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 12 of 14

 

          EXHIBIT B

 

                                                                       LIMITED POWER OF ATTORNEY

                                                                                             FOR

                                                         SECTION 13 AND 16 REPORTING OBLIGATIONS

 

          Know all by these presents, that the undersigned hereby makes, constitutes and appoints

        each of Alison E. Baur, Maria Gray, Steven J. Gray, Kimberly H. Novotny, Karen L. Skidmore,

        Navid J. Tofigh and Lori A. Weber each acting individually, as the undersigned’s true and

        lawful attorney‑in‑fact, with full power and authority as hereinafter described on behalf

        of and in the name, place and stead of the undersigned to:

        (1)  prepare, execute, acknowledge, deliver and file Forms ID, Schedules 13D and 13G, and

        Forms 3, 4 and 5 (including any amendments thereto and any related documentation) with the

        United States Securities and Exchange Commission and any national securities exchanges

        relating to Franklin Resources, Inc. (“FRI”) and/or any registered closed‑end company to

        which an affiliate of FRI is an investment adviser (each, a “Reporting Entity”), as

        considered necessary or advisable under Regulation S‑T and Sections 13(d) and 16(a) of the

        Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as

        amended from time to time (the “Exchange Act”); and

        (2)  seek or obtain, as the undersigned’s representative and on the undersigned’s behalf,

        information on transactions in the securities of any Reporting Entity from any person,

        including brokers, employee benefit plan administrators and trustees, and the undersigned

        hereby authorizes any such person to release any such information to the undersigned and

        approves and ratifies any such release of information; and

        (3)  perform any and all other acts which in the discretion of such attorney‑in‑fact are

        necessary or desirable for and on behalf of the undersigned in connection with the

        foregoing.

 

               The undersigned acknowledges that:

        (1)  this Limited Power of Attorney authorizes, but does not require, each such

        attorney‑in‑fact to act in their discretion on information provided to such

        attorney‑in‑fact without independent verification of such information;

        (2)  any documents prepared and/or executed by any such attorney‑in‑fact on behalf of the

        undersigned pursuant to this Limited Power of Attorney will be in such form and will

        contain such information and disclosure as such attorney‑in‑fact, in his or her discretion,

        deems necessary or desirable;

        (3)  none of FRI, any Reporting Entity nor any of such attorneys‑in‑fact assumes (i) any

        liability for the undersigned’s responsibility to comply with the requirements of the

        Exchange Act, (ii) any liability of the undersigned for any failure to comply with such

        requirements, or (iii) any obligation or liability of the undersigned for profit

        disgorgement under Section 16(b) of the Exchange Act; and

        (4)  this Limited Power of Attorney does not relieve the undersigned from responsibility

        for compliance with the undersigned’s obligations under the Exchange Act, including without

        limitation, the reporting requirements under Section 16 of the Exchange Act.

          The undersigned hereby gives and grants each of the foregoing attorneys‑in‑fact full

        power and authority to do and perform all and every act and thing whatsoever requisite,

        necessary or appropriate to be done in and about the foregoing matters as fully to all

        intents and purposes as the undersigned might or could do if present, hereby ratifying all

        that each such attorney‑in‑fact of, for and on behalf of the undersigned, shall lawfully do

        or cause to be done by virtue of this Limited Power of Attorney.

          This Limited Power of Attorney shall remain in full force and effect until revoked by the

        undersigned in a signed writing delivered to each such attorney‑in‑fact.

          IN WITNESS WHEREOF, the undersigned has caused this Limited Power of Attorney to be

        executed as of this     27th            day of      February       , 2017.

 

                                                                                                                            /s/Charles B. Johnson

                                                                                                                            Signature

 

                                                                                                                            Charles B. Johnson

                                                                                                                            Print Name

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 13 of 14

 

 

                                                                       LIMITED POWER OF ATTORNEY

                                                                                             FOR

                                                         SECTION 13 AND 16 REPORTING OBLIGATIONS

 

          Know all by these presents, that the undersigned hereby makes, constitutes and appoints

        each of Alison E. Baur, Maria Gray, Steven J. Gray, Kimberly H. Novotny, Karen L. Skidmore,

        Navid J. Tofigh and Lori A. Weber each acting individually, as the undersigned’s true and

        lawful attorney‑in‑fact, with full power and authority as hereinafter described on behalf

        of and in the name, place and stead of the undersigned to:

        (1)  prepare, execute, acknowledge, deliver and file Forms ID, Schedules 13D and 13G, and

        Forms 3, 4 and 5 (including any amendments thereto and any related documentation) with the

        United States Securities and Exchange Commission and any national securities exchanges

        relating to Franklin Resources, Inc. (“FRI”) and/or any registered closed‑end company to

        which an affiliate of FRI is an investment adviser (each, a “Reporting Entity”), as

        considered necessary or advisable under Regulation S‑T and Sections 13(d) and 16(a) of the

        Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as

        amended from time to time (the “Exchange Act”); and

        (2)  seek or obtain, as the undersigned’s representative and on the undersigned’s behalf,

        information on transactions in the securities of any Reporting Entity from any person,

        including brokers, employee benefit plan administrators and trustees, and the undersigned

        hereby authorizes any such person to release any such information to the undersigned and

        approves and ratifies any such release of information; and

        (3)  perform any and all other acts which in the discretion of such attorney‑in‑fact are

        necessary or desirable for and on behalf of the undersigned in connection with the

        foregoing.

 

               The undersigned acknowledges that:

        (1)  this Limited Power of Attorney authorizes, but does not require, each such

        attorney‑in‑fact to act in their discretion on information provided to such

        attorney‑in‑fact without independent verification of such information;

        (2)  any documents prepared and/or executed by any such attorney‑in‑fact on behalf of the

        undersigned pursuant to this Limited Power of Attorney will be in such form and will

        contain such information and disclosure as such attorney‑in‑fact, in his or her discretion,

        deems necessary or desirable;

        (3)  none of FRI, any Reporting Entity nor any of such attorneys‑in‑fact assumes (i) any

        liability for the undersigned’s responsibility to comply with the requirements of the

        Exchange Act, (ii) any liability of the undersigned for any failure to comply with such

        requirements, or (iii) any obligation or liability of the undersigned for profit

        disgorgement under Section 16(b) of the Exchange Act; and

        (4)  this Limited Power of Attorney does not relieve the undersigned from responsibility

        for compliance with the undersigned’s obligations under the Exchange Act, including without

        limitation, the reporting requirements under Section 16 of the Exchange Act.

          The undersigned hereby gives and grants each of the foregoing attorneys‑in‑fact full

        power and authority to do and perform all and every act and thing whatsoever requisite,

        necessary or appropriate to be done in and about the foregoing matters as fully to all

        intents and purposes as the undersigned might or could do if present, hereby ratifying all

        that each such attorney‑in‑fact of, for and on behalf of the undersigned, shall lawfully do

        or cause to be done by virtue of this Limited Power of Attorney.

          This Limited Power of Attorney shall remain in full force and effect until revoked by the

        undersigned in a signed writing delivered to each such attorney‑in‑fact.

          IN WITNESS WHEREOF, the undersigned has caused this Limited Power of Attorney to be

        executed as of this      27th          day of       February      , 2017. 

 

 

                                                                                                                      /s/Rupert H. Johnson, Jr.

                                                                                                                      Signature

 

                                                                                                                      Rupert H. Johnson, Jr.

                                                                                                                      Print Name

 


 

 

 

          CUSIP NO. 31189P102                       13G                             Page 14 of 14

 

          EXHIBIT C

          Franklin Advisers, Inc.                               Item 3 Classification: 3(e)