There's a BoT meeting today and tomorrow - the first one that's taken place since early May. I'd be willing to wager that Cael and Franklin's extensions (and maybe others) have been agreed upon for a little while now, but will be formally ratified and announced in conjunction with the meeting.
Edit: the agendas for the Trustee meeting are online. The Committee on Compensation is meeting (both in an executive session and a public session) on Thursday afternoon, and on the public agenda is "review process for approval of any pay changes for President and Tier II/IIA executives".
Looking at the University's charts, Head Football Coach (but not wrestling) is listed as a Tier IIA executive. My guess is that Franklin's extension is approved by the Board on Thursday, and Cael's is announced at around the same time.