# EDGAR Filing Document

**Accession Number:** 0000837274
**File Stem:** 0001655589-26-000481
**Filing Date:** 2026-4
**Character Count:** 4623
**Document Hash:** fe609d30e9eb00fb839a724a614c8da2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655589-26-000481.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0001655589-26-000481

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260417

**EFFECTIVENESS DATE**: 20260417

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000837274

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-23493
- **FILM NUMBER:** 26869769

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN VALUEMARK FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN VALUEMARK ANNUITY FUNDS
- **DATE OF NAME CHANGE:** 19881129

## Series and Classes Contracts Data

### FRANKLIN STRATEGIC INCOME VIP FUND (Series ID: S000007316)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020100 | Class 1      |  |
| C000020101 | Class 2      |  |
| C000061779 | Class 4      |  |

#### GOF-P13 04/26

#### SUPPLEMENT DATED APRIL 17, 2026

#### TO THE SUMMARY PROSPECTUS, PROSPECTUS AND

#### STATEMENT OF ADDITIONAL INFORMATION ("SAI")

#### OF EACH FUND LISTED IN SCHEDULE A AND SCHEDULE B

#### All changes described below are effective June 30, 2026.
**1. The following replaces the reference to Patricia O'Connor in the section titled "Fund Summary – Portfolio Managers" in the Summary Prospectus and Prospectus of each fund listed in Schedule A and Schedule B:** 

**Matthew J. Walkup**<br>Portfolio Manager of Advisers and portfolio manager of the Fund since June 2026.

**2. The following replaces the reference to Patricia O'Connor in the section titled "Fund Details – Management" in the Prospectus of each fund listed in Schedule A and Schedule B:**

#### Matthew J. Walkup Portfolio Manager of Advisers
Mr. Walkup has been a portfolio manager of the Fund since June 2026. He joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Walkup was a portfolio manager for Putnam Investment Management, LLC ("Putnam Management"). He joined Putnam Management in 2014.

**3. The following replaces references to Patricia O'Connor in the table in the section titled "Management and Other Services – Portfolio managers" in the SAI of each fund listed in Schedule A and Schedule B:**

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name** | **Type of<br>Account** | **Number of**<br>**Accounts**<br>**Managed** | **Total Assets**<br>**Managed**<br>**(x $1 million)** | **Number of Accounts** <br>**Managed for which** <br>**Advisory Fee is** <br>**Performance-Based** | **Assets Managed for which** <br>**Advisory Fee is** <br>**Performance-Based** <br>**(x $1 million)** |
| Matthew J. Walkup\* | Registered<br>Investment<br>Companies | 6 | 2742.6 |  |  |
|  | Other Pooled<br>Investment<br>Vehicles | 1 | 194.6 |  |  |
|  | Other<br>Accounts |  |  |  |  |

---

\*Information is provided as of February 28, 2026.

**4. The following replaces references to Patricia O'Connor in the table in the section titled "Management and Other Services – Portfolio managers – Ownership of Fund shares" in the SAI of the fund listed in Schedule A:**

---

| | |
|:---|:---|
| **Portfolio Manager** | **Dollar Range of Fund Shares Beneficially Owned** |
| Matthew J. Walkup\* | None |

---

\*Information is provided as of March 31, 2026.

**5. The following is added to the section titled "Management and Other Services – Portfolio managers – Ownership of Fund shares" in the SAI of the fund listed in Schedule B:**

As of March 31, 2026, Matthew J. Walkup did not own any shares of the Fund.

#### SCHEDULE A

---

| | |
|:---|:---|
| **Fund**<br>| **Date of Summary**<br>**Prospectus, Prospectus and SAI**<br>|
| **<u>FRANKLIN STRATEGIC SERIES</u>** |  |
| Franklin Core Plus Bond Fund | September 1, 2025 |

---

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#### SCHEDULE B

---

| | |
|:---|:---|
| **Fund**<br>| **Date of Summary** <br>**Prospectus, Prospectus and SAI**<br>|
| **<u>FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST</u>** |  |
| Franklin Strategic Income VIP Fund | May 1, 2025 |

---

#### Please retain this supplement for future reference.

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