Paul J. Huml - Jan 14, 2022 Form 4 Insider Report for TFS Financial CORP (TFSL)

Role
Former Chief Financial Officer
Signature
/s/ Timothy M. Mulhern, Pursuant to Power of Attorney
Stock symbol
TFSL
Transactions as of
Jan 14, 2022
Transactions value $
$0
Form type
4
Date filed
1/18/2022, 10:27 AM
Previous filing
Dec 14, 2021
Next filing
Aug 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TFSL Common Stock 70.7K Jan 14, 2022 Direct F1
holding TFSL Common Stock 11K Jan 14, 2022 ESOP F2
holding TFSL Common Stock 49.8K Jan 14, 2022 By 401(k) F2
holding TFSL Common Stock 4.7K Jan 14, 2022 By Spouse's Ira
holding TFSL Common Stock 2K Jan 14, 2022 Child 2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TFSL Performance Restricted Share Units 10.8K Jan 14, 2022 Common Stock 10.8K Direct F3, F4
holding TFSL Restricted Stock Units 2K Jan 14, 2022 Common Stock 2K Direct F3, F5, F6
holding TFSL Restricted Stock Units 4.93K Jan 14, 2022 Common Stock 4.93K Direct F3, F6, F7
holding TFSL Employee Stock Option (right to buy) 32.4K Jan 14, 2022 Common Stock 32.4K $14.85 Direct F8
holding TFSL Employee Stock Option (right to buy) 156K Jan 14, 2022 Common Stock 156K $14.74 Direct F6, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares are held with shared voting power with spouse.
F2 Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
F3 Each restricted stock unit represents a contingent right to receive one share of TFS Financial Corporation common stock. Restricted stock units are entitled to dividend equivalent rights in the form of a cash payment in the amount of any cash dividend paid per share of common stock.
F4 On December 10, 2021, the reporting person achieved performance level of 112.5% on a target award of 9,600 Performance Share Units ("PSUs"), resulting in a total earned award of 10,800 shares. This represents the final determination a December 19, 2019 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2021. Each PSU represents a contingent right to receive one share of TFS Financial Corporation common stock and are entitled to dividend equivalent rights in the form of a cash payment in the amount of any cash dividend paid per share of common stock during the period the award was outstanding. The shares and dividend equivalent payment will vest and distribute to the reporting person on December 10, 2022.
F5 As reported on a Form 4 dated December 19, 2019, the reporting person received a grant of 6,400 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2020.
F6 In connection with the retirement of the reporting person effective January 14, 2022, remaining restricted stock units to be issued under the accelerated vesting will be issued six months after the reporting person's retirement, in accordance with IRS Section 409A regulations. In addition, expiration dates of stock options have been adjusted to January 14, 2025 unless their original expiration date was sooner.
F7 On December 17, 2020, the reporting person received a grant of 7,400 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2021.
F8 As reported on a Form 4 dated December 19, 2014, the reporting person received a grant of 32,400 stock options. These stock options vest in three equal annual installments beginning December 10, 2015.
F9 As reported on a Form 4 dated January 8, 2018, the reporting person received a grant of 156,300 stock options. These stock options vest in three equal annual installments beginning December 10, 2018.