Meredith S. Weil - Mar 8, 2023 Form 4 Insider Report for TFS Financial CORP (TFSL)

Role
Chief Operating Officer, Director
Signature
/s/ Susanne N. Miller, Pursuant to Power of Attorney
Stock symbol
TFSL
Transactions as of
Mar 8, 2023
Transactions value $
-$358,753
Form type
4
Date filed
3/10/2023, 10:15 AM
Previous filing
Dec 19, 2022
Next filing
Dec 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TFSL Common Stock Options Exercise $334K +28.7K +29.36% $11.64 126K Mar 8, 2023 Direct F1, F2
transaction TFSL Common Stock Tax liability -$359K -26.9K -21.27% $13.34 99.6K Mar 8, 2023 Direct F2, F3
holding TFSL Common Stock 12.8K Mar 8, 2023 BY ESOP F4
holding TFSL Common Stock 14.9K Mar 8, 2023 By 401(k) F4

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 Employee Stock Option (right to buy) Options Exercise -$334K -28.7K -100% $11.64 0 Mar 8, 2023 Common Stock 28.7K $11.64 Direct F16
holding TFSL Performance Restricted Share Units 15.1K Mar 8, 2023 Common Stock 15.1K Direct F5, F6
holding TFSL Restricted Stock Units 3.13K Mar 8, 2023 Common Stock 3.13K Direct F5, F7
holding TFSL Restricted Stock Units 6.33K Mar 8, 2023 Common Stock 6.33K Direct F5, F8
holding TFSL Restricted Stock Units 14.2K Mar 8, 2023 Common Stock 14.2K Direct F5, F9
holding TFSL Restricted Stock Units 3.6K Mar 8, 2023 Common Stock 3.6K Direct F5, F10
holding TFSL Employee Stock Option (right to buy) 188K Mar 8, 2023 Common Stock 188K $14.74 Direct F11
holding TFSL Employee Stock Option (right to buy) 108K Mar 8, 2023 Common Stock 108K $14.81 Direct F12
holding TFSL Employee Stock Option (right to buy) 54.4K Mar 8, 2023 Common Stock 54.4K $19.31 Direct F13
holding TFSL Employee Stock Option (right to buy) 24.2K Mar 8, 2023 Common Stock 24.2K $19.06 Direct F14
holding TFSL Employee Stock Option (right to buy) 32.4K Mar 8, 2023 Common Stock 32.4K $14.85 Direct F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These common shares were acquired upon the vesting and settlement of certain stock options.
F2 Shares are held with shared voting power with spouse.
F3 These common shares were delivered to the issuer to pay the option's exercise price and applicable tax due upon exercise of certain stock options.
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 November 22, 2022, the reporting person achieved performance level of 107.5% on a target award of 14,000 Performance Share Units ("PSUs"), resulting in a total earned award of 15,050 shares. This represents the final determination a December 17, 2020 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2022. 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, 2023.
F7 On December 17, 2020, the reporting person received a grant of 9,400 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2021.
F8 On December 16, 2021, the reporting person received a grant of 9,500 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2022.
F9 On December 15, 2022, the reporting person received a grant of 14,200 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2023.
F10 As reported on a Form 4 dated September 29, 2011, the reporting person received a grant of 3,600 restricted stock units that vest in four equal annual installments beginning May 14, 2011. Vested shares may be distributed to the Reporting Person only after that person's termination of employment with TFS Financial Corporation.
F11 As reported on a Form 4 dated January 8, 2018, the reporting person received a grant of 187,500 stock options. These stock options vest in three equal annual installments beginning December 10, 2018.
F12 As reported on a Form 4 dated May 29, 2015, the reporting person received a grant of 108,300 stock options on May 28, 2015. These stock options vest in five equal annual installments beginning May 28, 2016.
F13 As reported on a Form 4 dated December 15, 2016, the reporting person received a grant of 79,400 stock options. These stock options vest in three equal annual installments beginning December 10, 2017.
F14 As reported on a Form 4 dated December 17, 2015, the reporting person received a grant of 49,200 stock options on December 15, 2015. These stock options vest in three equal annual installments beginning December 10, 2016.
F15 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.
F16 As reported on a Form 4 dated December 12, 2013, the reporting person received a grant of 28,700 stock options on December 3, 2013. These stock options vest in three equal installments beginning December 3, 2014.