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

Role: Chief Financial 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, 14:24:35 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						881	21 Nov 2023	Direct
holding	TFSL	Common Stock						13,224	21 Nov 2023	ESOP	F1
holding	TFSL	Common Stock						7,748	21 Nov 2023	401k	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	+5,510		$0.000000	5,510	21 Nov 2023	Common Stock	5,510		Direct	F2, F3
holding	TFSL	Restricted Stock Units						11,000	21 Nov 2023	Common Stock	11,000		Direct	F2, F4
holding	TFSL	Restricted Stock Units						2,534	21 Nov 2023	Common Stock	2,534		Direct	F2, F5
holding	TFSL	Restricted Stock Units						6,400	21 Nov 2023	Common Stock	6,400		Direct	F2, F6
holding	TFSL	Employee Stock Option (right to buy)						5,000	21 Nov 2023	Common Stock	5,000	$14.74	Direct	F7

* 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 5,800 Performance Share Units ("PSUs"), resulting in a total earned award of 5,510 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 December 17, 2020, the reporting person received a grant of 11,000 Restricted Stock Units ("RSUs") which fully vest on December 10, 2023.
F5	On December 16, 2021, the reporting person received a grant of 3,800 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2022.
F6	On December 15, 2022, the reporting person received a grant of 6,400 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2023.
F7	On January 5, 2018, the reporting person received a grant of 5,000 stock options. These options fully vest on December 10, 2020.