# EDGAR Filing Document

**Accession Number:** 0001176343
**File Stem:** 0001193125-26-250066
**Filing Date:** 2026-6
**Character Count:** 5258
**Document Hash:** ffc42ccd4c2ab52b976512019e273554
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-250066.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001193125-26-250066

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**EFFECTIVENESS DATE**: 20260601

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS VARIABLE EQUITY TRUST
- **CENTRAL INDEX KEY:** 0001176343

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-91278
- **FILM NUMBER:** 261047719

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 1-877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason Partners Variable Portfolios IV
- **DATE OF NAME CHANGE:** 20060501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE TRUST
- **DATE OF NAME CHANGE:** 20021004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 20020626

## Series and Classes Contracts Data

### Franklin Multi-Asset Variable Moderate Growth (Series ID: S000017010)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047267 | Class I      | QLMLSX          |
| C000183010 | Class II     | QVMIIX          |

VGOF-P19 06/26

![LOGO](g87731g83h05.jpg)

**LEGG MASON PARTNERS VARIABLE EQUITY TRUST** 

**SUPPLEMENT DATED JUNE 1, 2026** 

**TO THE SUMMARY PROSPECTUS AND PROSPECTUS** 

**OF EACH FUND LISTED IN <u>SCHEDULE A</u>** 

**I.** **The following paragraph supplements and supersedes the information regarding the Franklin Multi-Asset Variable Conservative Growth Fund composite and performance benchmarks contained in the section of the fund's Summary Prospectus and Prospectus, respectively, titled "Performance":** 

Effective June 1, 2026, the composition of the fund's composite benchmark will change from 28% Russell 1000 Index, 12% Russell 2000 Index, 10% MSCI EAFE Index, 43% Bloomberg U.S. Aggregate Index and 7% Bloomberg U.S. High Yield—2% Issuer Cap Index to 44% Russell 3000 Index, 11% MSCI EAFE Index and 45% Bloomberg U.S. Aggregate Index (the "New Composition"). The fund's subadviser believes the New Composition better reflects the fund's current portfolio.

Effective June 1, 2026, the fund will no longer compare its performance to the Russell 1000 Index. The fund will continue to compare its performance to the Russell 3000 Index, a broad-based securities market index, and the Bloomberg U.S. Aggregate Index, an additional index with characteristics relevant to the fund.

**II.** **The following paragraph supplements and supersedes the information regarding the Franklin Multi-Asset Variable Growth Fund composite benchmark contained in the section of the fund's Summary Prospectus and Prospectus, respectively, titled "Performance":** 

Effective June 1, 2026, the composition of the fund's composite benchmark will change from 45% Russell 1000 Index, 20% Russell 2000 Index, 20% MSCI EAFE Index, 10% Bloomberg U.S. Aggregate Index and 5% Bloomberg U.S. High Yield—2% Issuer Cap Index to 72% Russell 3000 Index, 18% MSCI EAFE Index and

------

10% Bloomberg U.S. Aggregate Index (the "New Composition"). The fund's subadviser believes the New Composition better reflects the fund's current portfolio.

The fund will continue to compare its performance to the Russell 3000 Index, a broad-based securities market index, and the Bloomberg U.S. Aggregate Index, an additional index with characteristics relevant to the fund.

**III.** **The following paragraph supplements and supersedes the information regarding the Franklin Multi-Asset Variable Moderate Growth Fund composite benchmark contained in the section of the fund's Summary Prospectus and Prospectus, respectively, titled "Performance":** 

Effective June 1, 2026, the composition of the fund's composite benchmark will change from 40% Russell 1000 Index, 15% Russell 2000 Index, 15% MSCI EAFE Index, 25% Bloomberg U.S. Aggregate Index and 5% Bloomberg U.S. High Yield—2% Issuer Cap Index to 60% Russell 3000 Index, 15% MSCI EAFE Index and 25% Bloomberg U.S. Aggregate Index (the "New Composition"). The fund's subadviser believes the New Composition better reflects the fund's current portfolio.

The fund will continue to compare its performance to the Russell 3000 Index, a broad-based securities market index, and the Bloomberg U.S. Aggregate Index, an additional index with characteristics relevant to the fund.

**<u>SCHEDULE A</u>**

---

| | |
|:---|:---|
| **Fund** | **Date of Summary<br>Prospectus and<br>Prospectus** |
|  **<u>LEGG MASON PARTNERS VARIABLE EQUITY TRUST</u>** |  |
|  Franklin Multi-Asset Variable Conservative Growth Fund | May 1, 2026 |
|  Franklin Multi-Asset Variable Growth Fund | May 1, 2026 |
|  Franklin Multi-Asset Variable Moderate Growth Fund | May 1, 2026 |

---

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