Paul J. Huml - Aug 1, 2022 Form 4 Insider Report for TFS Financial CORP (TFSL)

Role
Former Chief Financial Officer
Signature
/s/ Timothy W. Mulhern, Pursuant to Power of Attorney
Stock symbol
TFSL
Transactions as of
Aug 1, 2022
Transactions value $
$0
Form type
4
Date filed
8/3/2022, 10:21 AM
Previous filing
Jan 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TFSL Common Stock Options Exercise $0 +2K +2.82% $0.00 72.7K Aug 1, 2022 Direct F1, F2
transaction TFSL Common Stock Options Exercise $0 +4.93K +6.78% $0.00 77.7K Aug 1, 2022 Direct F1, F2
transaction TFSL Common Stock Tax liability $0 -2.91K -3.75% $0.00 74.8K Aug 1, 2022 Direct F2, F3
holding TFSL Common Stock 11.9K Aug 1, 2022 ESOP F4
holding TFSL Common Stock 51.6K Aug 1, 2022 By 401(k) F4
holding TFSL Common Stock 4.7K Aug 1, 2022 By Spouse's Ira
holding TFSL Common Stock 2K Aug 1, 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
transaction TFSL Restricted Stock Units Options Exercise $0 -2K -100% $0.00* 0 Aug 1, 2022 Common Stock 2K Direct F5, F7
transaction TFSL Restricted Stock Units Options Exercise $0 -4.93K -100% $0.00* 0 Aug 1, 2022 Common Stock 4.93K Direct F5, F8
holding TFSL Performance Restricted Share Units 10.8K Aug 1, 2022 Common Stock 10.8K Direct F5, F6
holding TFSL Employee Stock Option (right to buy) 32.4K Aug 1, 2022 Common Stock 32.4K $14.85 Direct F9
holding TFSL Employee Stock Option (right to buy) 156K Aug 1, 2022 Common Stock 156K $14.74 Direct F1, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Paul J. Huml is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 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 the stock options have been adjusted to January 14, 2025, unless their original expiration date was sooner
F2 Shares are held with shared voting power with spouse.
F3 These common shares were delivered to the issuer to pay for the applicable withholding tax due upon vesting of certain restricted stock units.
F4 Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
F5 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.
F6 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.
F7 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.
F8 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.
F9 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.
F10 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.