TFSL Form 4 details CEO equity awards and stock ownership
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TFS Financial Corporation (TFSL) filed a Form 4 reporting equity awards and holdings for its Chairman, President and CEO, who is also a director. The filing shows the executive’s beneficial ownership of common stock across direct holdings and multiple indirect accounts, including shares held by a spouse, in family trusts, an ESOP, and a 401(k) plan.
On November 25, 2025, the executive earned 20,400 Performance Restricted Share Units after achieving 100% of a performance target tied to results over the two fiscal years ended September 30, 2025; these shares and related dividend equivalents are scheduled to vest and be distributed on December 10, 2026. The report also details previously granted Restricted Stock Units and Performance Share Units from 2008, 2009, 2010, 2012, 2015, 2022 and 2024, with vesting in installments on specified future dates, plus an employee stock option for 196,700 shares at an exercise price of $19.06.
Positive
- None.
Negative
- None.
Insider Trade Summary
16 transactions reported
Mixed
16 txns
Insider
Stefanski Marc A
Role
Chairman, President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Restricted Share Units | 20,400 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Restricted Share Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Restricted Share Units — 20,400 shares (Direct);
Restricted Stock Units — 40,400 shares (Direct);
Employee Stock Option (right to buy) — 196,700 shares (Direct);
Common Stock — 93,429 shares (Direct);
Common Stock — 24,700 shares (Indirect, By Spouse)
Footnotes (1)
- Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended. Each restricted and performance stock unit represents a contingent right to receive one share of TFS Financial Corporation common stock. Restricted and performance 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 25, 2025, the reporting person achieved performance level of 100% on a target award of 20,400 Performance Share Units ("PSUs"), resulting in a total earned award of 20.400 shares. This represents the final determination a March 4, 2024 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2025. 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, 2026. On December 19, 2024, the reporting person received a grant of 40,400 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2025. On December 15, 2022, the reporting person received a grant of 40,200 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2023. On March 4, 2024, the reporting person received a grant of 40,700 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2024. On November 21, 2024, the reporting person achieved performance level of 90.0% on a target award of 40,200 Performance Share Units ("PSUs"), resulting in a total earned award of 36,180 shares. This represents the final determination a December 15, 2022 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2024. 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, 2025. On November 21, 2024, the reporting person achieved performance level of 90.0% on a target award of 40,200 Performance Share Units ("PSUs"), resulting in a total earned award of 36,180 shares. This represents the final determination a December 15, 2022 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2024. 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, 2025. As reported on a Form 4 dated May 14, 2009, the reporting person received a grant of 33,400 restricted 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. 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 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. 3,387 shares were delivered to the issuer on August 13, 2012; and 5,365 shares were delivered to the issuer on August 11, 2015; to pay for the applicable withholding tax due upon vesting. 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.
FAQ
What did TFS Financial (TFSL) disclose in this Form 4 filing?
The filing reports the Chairman, President and CEO’s beneficial ownership of TFS Financial Corporation common stock, including direct holdings, indirect family and trust holdings, equity awards such as restricted stock units and performance share units, and an outstanding stock option grant.
What restricted stock units are currently reported for the TFSL CEO?
The report lists several Restricted Stock Unit (RSU) positions, including: a grant of 40,400 RSUs from December 19, 2024 that vests in three equal annual installments beginning December 10, 2025; grants of 40,200 and 40,700 RSUs from December 15, 2022 and March 4, 2024 respectively, each vesting in three equal annual installments beginning December 10, 2023 and December 10, 2024; and older RSU grants from 2008, 2009 and 2010 with multi-year vesting schedules and distribution generally after termination of employment.
What stock options are reported for the TFSL CEO in this Form 4?
The executive holds an Employee Stock Option to purchase 196,700 shares of TFS Financial common stock at an exercise price of $19.06 per share. The option grant was originally received on December 17, 2015 and vests in three equal annual installments beginning December 10, 2016.
How much TFS Financial (TFSL) common stock does the CEO beneficially own directly and indirectly?
The filing lists 93,429 shares of common stock held directly, along with indirect holdings of 24,700 shares by a spouse, 37,150 shares as trustee for a daughter’s trust, 20,389 shares as a trust beneficiary, 54,738 shares as trustee for a sibling trust, 10,916 shares held by an ESOP, and 111,499 shares held in a 401(k) plan.