Cathy W. Zbanek - 21 Nov 2023 Form 4 Insider Report for TFS Financial CORP (TFSL)

Role: Chief Synergy Officer
Signature: /s/ Susanne N. Miller, Pursuant to Power of Attorney
Issuer symbol: TFSL
Transactions as of: 21 Nov 2023
Net transactions value: $0
Form type: 4
Filing time: 06 Dec 2023, 14:16:56 UTC
Previous filing: 19 Dec 2022
Next filing: 12 Dec 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TFSL	Common Stock						90,610	21 Nov 2023	Direct
holding	TFSL	Common Stock						12,559	21 Nov 2023	By ESOP	F1
holding	TFSL	Common Stock						5,336	21 Nov 2023	By 401(k)	F1

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	Performance Restricted Share Units	Award	$0	+13,395		$0.000000	13,395	21 Nov 2023	Common Stock	13,395		Direct	F2, F3
holding	TFSL	Performance Restricted Share Units						15,050	21 Nov 2023	Common Stock	15,050		Direct	F2, F4
holding	TFSL	Restricted Stock Units						3,134	21 Nov 2023	Common Stock	3,134		Direct	F2, F5
holding	TFSL	Restricted Stock Units						6,267	21 Nov 2023	Common Stock	6,267		Direct	F2, F6
holding	TFSL	Restricted Stock Units						14,000	21 Nov 2023	Common Stock	14,000		Direct	F2, F7
holding	TFSL	Employee Stock Option (right to buy)						187,500	21 Nov 2023	Common Stock	187,500	$14.74	Direct	F8
holding	TFSL	Employee Stock Option (right to buy)						108,300	21 Nov 2023	Common Stock	108,300	$14.81	Direct	F9
holding	TFSL	Employee Stock Option (right to buy)						79,400	21 Nov 2023	Common Stock	79,400	$19.31	Direct	F10
holding	TFSL	Employee Stock Option (right to buy)						49,200	21 Nov 2023	Common Stock	49,200	$19.06	Direct	F11
holding	TFSL	Employee Stock Option (right to buy)						32,400	21 Nov 2023	Common Stock	32,400	$14.85	Direct	F12

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
F2	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.
F3	On November 21, 2023, the reporting person achieved performance level of 95.0% on a target award of 14,100 Performance Share Units ("PSUs"), resulting in a total earned award of 13,395 shares. This represents the final determination a December 16, 2021 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2023. 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, 2024.
F4	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 on 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.
F5	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.
F6	On December 16, 2021, the reporting person received a grant of 9,400 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2022.
F7	On December 15, 2022, the reporting person received a grant of 14,000 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2023.
F8	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.
F9	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.
F10	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.
F11	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.
F12	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.