TFS Financial CEO sells 10,000 shares at $17.28
Rhea-AI Filing Summary
TFS Financial CORP (TFSL) reports that Chairman, President and CEO Marc A. Stefanski sold 10,000 shares of common stock on September 8, 2026 in an open-market or private transaction at $17.28 per share from shares held as trustee for his daughter's trust, leaving 27,150 shares in that trust.
He also reports direct holdings of 77,570 common shares, additional indirect common stock through a spouse, trusts, an ESOP and a 401(k), and substantial equity awards including multiple grants of restricted stock units and performance share units that each represent a contingent right to receive one TFSL share with dividend equivalent rights.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary
Net Seller: 10,000 shares
Net Sell
15 txns
Insider
Stefanski Marc A
Role
Chairman, President and CEO
Sold
10,000 shs ($173K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 10,000 | $17.28 | $173K |
| holding | Restricted Stock Units F3, F4 | -- | -- | -- |
| holding | Restricted Stock Units F3, F5 | -- | -- | -- |
| holding | Restricted Stock Units F3, F6 | -- | -- | -- |
| holding | Restricted Stock Units F3, F7 | -- | -- | -- |
| holding | Performance Restricted Share Units F3, F8 | -- | -- | -- |
| holding | Restricted Stock Units F3, F9 | -- | -- | -- |
| holding | Restricted Stock Units F3, F10 | -- | -- | -- |
| holding | Restricted Stock Units F3, F11 | -- | -- | -- |
| holding | Common Stock F1 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F1 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 27,150 shares (Indirect, Trustee for daughter's trust);
Restricted Stock Units — 1,058,049 contracts (Direct);
Performance Restricted Share Units — 20,400 contracts (Direct);
Common Stock — 77,570 shares (Direct);
Common Stock — 29,700 shares (Indirect, By Spouse);
Common Stock — 13.316 shares (Indirect, Trust Beneficiary);
Common Stock — 54,738 shares (Indirect, Trustee for sibling trust);
Common Stock — 11,389 shares (Indirect, BY ESOP);
Common Stock — 115,058 shares (Indirect, By 401(k))
Footnotes (11)
- F1. Ending shares reflect the transfer of 7,073 shares transferred on August 20th, 2026 from the Grantor Retained Annuity Trust ("GRAT") of the reporting person. This transaction changed the beneficial ownership of such shares from indirect to direct ownership.
- F2. Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
- F3. 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.
- F4. On December 18, 2025 the reporting person received a retention award grant of 215,200 restricted stock units ("RSU's"). These RSU's fully vest on December 10, 2030, subject to the reporting persons continuous service, and with certain limited exceptions.
- F5. On December 18, 2025, the reporting person received a grant of 40,200 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2026.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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.
- F10. 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.
- F11. 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.
Key Figures
Shares sold: 10,000 shares
Sale price per share: $17.28 per share
Indirect holdings in daughter's trust: 27,150 shares
+5 more
8 metrics
Shares sold
10,000 shares
Common Stock sale on September 8, 2026 from daughter's trust
Sale price per share
$17.28 per share
Common Stock sale on September 8, 2026
Indirect holdings in daughter's trust
27,150 shares
Common Stock held as trustee for daughter's trust after sale
Direct common stock holding
77,570 shares
Common Stock held directly as of September 8, 2026
Retention RSU award underlying shares
215,200 shares
Retention RSU grant received December 18, 2025, vesting December 10, 2030
Large 2008 RSU grant remaining underlying shares
693,048 shares
Restricted Stock Units originally granted August 11, 2008, tied to TFSL common stock
Performance Share Units underlying shares
20,400 shares
PSUs earned at 100% of target for two-year period ended September 30, 2025
Indirect 401(k) holdings
115,058 shares
Common Stock held indirectly through 401(k) plan
Key Terms
Restricted Stock Units, Performance Share Units, Grantor Retained Annuity Trust, dividend equivalent rights, +2 more
6 terms
Restricted Stock Units financial
"Each restricted and performance stock unit represents a contingent right"
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.
Grantor Retained Annuity Trust financial
"transfer of 7,073 shares transferred on August 20th, 2026 from the Grantor Retained Annuity Trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
dividend equivalent rights financial
"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 with 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 with 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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did TFSL’s CEO report on this Form 4?
Marc A. Stefanski reported a sale of 10,000 shares of TFS Financial CORP common stock on September 8, 2026, executed as an open-market or private transaction at $17.28 per share from shares held as trustee for his daughter's trust.
What are the CEO’s reported direct common stock holdings in TFSL?
The filing lists 77,570 shares of TFS Financial CORP common stock held directly by Marc A. Stefanski as of September 8, 2026, with a related footnote describing a prior transfer from a Grantor Retained Annuity Trust.
What restricted stock unit awards tied to TFSL common stock does the CEO report?
He reports several Restricted Stock Unit (RSU) positions tied to TFSL common stock, including blocks with 215,200, 40,200, 40,700, 40,400, 33,400, 35,700 and 693,048 underlying shares, each RSU representing a right to one share.
What performance-based equity does TFSL’s CEO hold according to the filing?
The filing shows 20,400 Performance Share Units tied to TFSL common stock. A footnote explains these PSUs were earned at 100% of target based on performance over two fiscal years ending September 30, 2025, with distribution scheduled for December 10, 2026.
How else does the TFSL CEO hold common stock indirectly?
Indirect holdings include 29,700 shares by spouse, 13.316 shares as a trust beneficiary, 54,738 shares as trustee for a sibling trust, 11,389 shares through an ESOP, and 115,058 shares through a 401(k) plan.
Do TFSL restricted and performance stock units receive dividend equivalents?
Yes. A footnote states each restricted and performance stock unit represents a right to one TFSL share and is entitled to dividend equivalent rights in cash equal to any cash dividend paid per share of common stock while the award is outstanding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
