TFS Financial CORP (NASDAQ: TFSL) exec exercises 60,000 options, 55,533 shares withheld
Rhea-AI Filing Summary
TFS Financial CORP executive Cathy W. Zbanek, Chief Synergy Officer, exercised employee stock options for 60,000 shares of common stock at $14.74 per share on June 9, 2026. To cover the exercise price and tax obligations, 55,533 shares of common stock were disposed at $16.49 per share. Following these transactions, she directly holds 68,819 common shares, 146,900 employee stock options, and 31,134 restricted stock units, plus indirect holdings of 14,234 shares via an ESOP and 5,323 shares via a 401(k), as well as 12,400 performance share units and options on 79,400 shares at $19.31 expiring December 15, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 4,467 shares
Net Buy
10 txns
Insider
Zbanek Cathy W
Role
Chief Synergy Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 60,000 | $14.74 | $884K |
| Exercise | Common Stock | 60,000 | $14.74 | $884K |
| Exercise Price or Tax Liability | Common Stock | 55,533 | $16.49 | $916K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Restricted Share Units | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 146,900 shares (Direct);
Common Stock — 68,819 shares (Direct);
Restricted Stock Units — 31,134 shares (Direct);
Performance Restricted Share Units — 12,400 shares (Direct);
Common Stock — 14,234 shares (Indirect, By ESOP);
Common Stock — 5,323 shares (Indirect, By 401(k))
Footnotes (10)
- F1. These common shares were acquired upon the exercise and settlement of certain stock options.
- F2. These common shares were delivered to the issuer to pay for the options exercise price and applicable withholding tax due upon the exercise of certain stock options.
- F3. Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
- F4. 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.
- F5. 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.
- F6. On December 18, 2025, the reporting person received a grant of 15,800 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2026.
- F7. On March 4, 2024, the reporting person received a grant of 14,200 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2024.
- F8. On December 19, 2024, the reporting person received a grant of 15,900 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2025.
- F9. On November 25, 2025, the reporting person achieved performance level of 100% on a target award of 12,400 Performance Share Units ("PSUs"), resulting in a total earned award of 12,400 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.
- 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.
Key Figures
Options Exercised: 60,000 shares
Exercise Price: $14.74 per share
Tax-Withholding Shares: 55,533 shares
+5 more
8 metrics
Options Exercised
60,000 shares
Employee stock options exercised for common stock on June 9, 2026 at $14.74
Exercise Price
$14.74 per share
Price paid per share in the 60,000-share option exercise
Tax-Withholding Shares
55,533 shares
Common shares disposed to cover option exercise price and tax obligations at $16.49
Tax-Disposal Price
$16.49 per share
Per-share value for 55,533-share tax-withholding disposition
Direct Common Stock Holding
68,819 shares
Direct post-transaction common stock position held by Cathy W. Zbanek
Employee Stock Options Holding
146,900 options
Direct post-transaction employee stock option position
Restricted Stock Units Holding
31,134 units
Direct post-transaction RSU position, each tied to one common share
Performance Share Units
12,400 units
Performance Restricted Share Units outstanding, each linked to one common share
Key Terms
Employee Stock Option (right to buy), Restricted Stock Units, Performance Restricted Share Units, dividend equivalent rights, +2 more
6 terms
Employee Stock Option (right to buy) financial
"Security title listed as Employee Stock Option (right to buy) for the derivative exercise"
Restricted Stock Units financial
"On December 18, 2025, the reporting person received a grant of 15,800 Restricted Stock Units (RSUs)."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent rights financial
"Restricted and performance stock units are entitled to dividend equivalent rights in the form of a cash payment."
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
ESOP financial
"Common Stock holding reported as indirect ownership nature of ownership: By ESOP."
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
401(k) financial
"Common Stock holding reported as indirect ownership nature of ownership: By 401(k)."
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did TFSL executive Cathy W. Zbanek report in this Form 4?
Cathy W. Zbanek exercised 60,000 stock options for TFS Financial CORP common shares at $14.74 on June 9, 2026. To fund the exercise and taxes, 55,533 shares were disposed at $16.49 as a tax-withholding transaction.
What stock option position does Cathy W. Zbanek retain in TFSL?
Post-transaction, Zbanek retains 146,900 employee stock options in TFS Financial CORP. These include options on 79,400 shares with a $19.31 exercise price expiring on December 15, 2026, alongside other outstanding option grants.
Were Cathy W. Zbanek’s TFSL transactions made under a Rule 10b5-1 plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not marked, meaning these transactions are not affirmed as being under a Rule 10b5-1 trading plan. The filing presents them as discretionary rather than pre-arranged under that rule.