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Filing Details

Accession Number:: 0001381668-21-000091
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-09-14 17:14:09
Reporting Period:: 2021-09-10

Accepted Time:: 2021-09-14 17:14:09
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1381668	Tfs Financial Corp	TFSL	Savings Institution, Federally Chartered (6035)	522054948

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1388161	A Marc Stefanski	7007 Broadway Avenue Cleveland OH 44105	Chairman, President And Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2021-09-10	400,315	$9.43	587,114	No	4	M	Direct
Common Stock	Disposition	2021-09-10	280,850	$18.82	306,264	No	4	F	Direct
Common Stock	Disposition	2021-09-10	119,465	$18.58	186,799	No	4	S	Direct
Common Stock	Acquisiton	2021-09-13	16,385	$9.43	203,184	No	4	M	Direct
Common Stock	Disposition	2021-09-13	11,698	$18.95	191,486	No	4	F	Direct
Common Stock	Disposition	2021-09-13	4,687	$19.06	186,799	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option (right to buy)	Disposition	2021-09-10	400,315	$9.43	400,315	$9.43
Common Stock	Employee Stock Option (right to buy)	Disposition	2021-09-13	16,385	$9.43	16,385	$9.43

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
16,385		2022-12-15	No	4	M	Direct
0		2022-12-15	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	8,000	Indirect	By Spouse
Common Stock	98,819	Indirect	By 401(k)
Common Stock	9,066	Indirect	BY ESOP
Common Stock	63,820	Indirect	Trust Beneficiary
Common Stock	115,738	Indirect	Trustee for sibling trust
Common Stock	16,200	Indirect	Trustee for daughter's trust
Common Stock	7,200	Indirect	POA on siblings IRA

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Performance Restricted Share Units	$0.00		17,550	17,550	Direct
Common Stock	Restricted Stock Units	$0.00		693,048	693,048	Direct
Common Stock	Restricted Stock Units	$0.00		35,700	35,700	Direct
Common Stock	Restricted Stock Units	$0.00		33,400	33,400	Direct
Common Stock	Restricted Stock Units	$0.00		32,300	32,300	Direct
Common Stock	Restricted Stock Units	$0.00		18,600	18,600	Direct
Common Stock	Restricted Stock Units	$0.00		11,600	11,600	Direct
Common Stock	Employee Stock Option (right to buy)	$14.85	2024-12-18	383,600	383,600	Direct
Common Stock	Employee Stock Option (right to buy)	$11.64	2023-12-03	286,500	286,500	Direct
Common Stock	Employee Stock Option (right to buy)	$19.06	2025-12-17	196,700	196,700	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	17,550	17,550	Direct
	693,048	693,048	Direct
	35,700	35,700	Direct
	33,400	33,400	Direct
	32,300	32,300	Direct
	18,600	18,600	Direct
	11,600	11,600	Direct
2024-12-18	383,600	383,600	Direct
2023-12-03	286,500	286,500	Direct
2025-12-17	196,700	196,700	Direct

Footnotes

Represents shares of common stock delivered to the issuer in payment by the reporting person of the options exercise price and withholding tax. This transaction is exempt under Rule 16b-3(e).
Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
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.
On November 24, 2020, the reporting person achieved performance level of 112.5% on a target award of 15,600 Performance Share Units ("PSUs"), resulting in a total earned award of 17,550 shares. This represents the final determination of a December 20, 2018 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2020. 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, 2021.
As reported on a Form 4 dated August 13, 2008, the Reporting Person received a grant of 701,800 Restricted Stock Units ("RSUs") on August 11, 2008. These RSUs vest 10% on each of the third through the ninth anniversaries of the date of the grant and 30% on the tenth anniversary of the date of the grant. Vested shares may be distributed to the Reporting Person only after the person's termination of employment from TFS Financial Corporation. A total of 8,752 shares were delivered to the issuer to pay for the applicable withholding tax due upon vesting.
As reported on a Form 4 dated May 18, 2010, the Reporting Person received a grant of 35,700 restricted stock units that vest in four equal installments beginning on May 14, 2011. Vested shares may be distributed to the Reporting Person only after that person's termination of employment with TFS Financial Corporation.
As reported on a Form 4 dated May 14, 2009, the reporting person received a grant of 33,400 stock units that vest in four equal annual installments beginning on May 12, 2010. Vested shares may be distributed to the reporting person only after the person's termination of employment with TFS Financial Corporation.
On December 17, 2020, the reporting person received a grant of 32,300 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2021.
As reported on a Form 4 dated December 19, 2019, the reporting person received a grant of 27,900 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2020
On December 20, 2018, the reporting person received a grant of 34,800 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2019.
As reported on a Form 4 dated January 2, 2013, the reporting person received a grant of 416,700 stock options on December 28, 2012. These stock options vest in three equal installments beginning December 15, 2013.
As reported on a Form 4 dated December 19, 2014, the reporting person received a grants of 383,600 stock options. These options vest in three equal annual installments beginning December 10, 2015.
As reported on a Form 4 dated December 12, 2013, the reporting person received a grant of 286,500 stock options. These stock options vest in three equal installments beginning December 3, 2014.
As reported on a Form 4 dated December 17, 2015, the reporting person received a grant of 196,700 stock options. These stock options vest in three equal annual installments beginning December 10, 2016.