TFS Financial CFO sells 5,861 shares after exercise
TFS Financial’s CFO exercised options, used most shares for taxes and exercise costs, and sold a smaller portion into the market.
Rhea-AI Filing Summary
TFS Financial CORP (TFSL) reported that Chief Financial Officer Meredith S. Weil exercised employee stock options for 52,793 shares of common stock on September 3, 2026 at $14.74 per share. Of the resulting shares, 46,932 were delivered back to the issuer to pay the option exercise price and related withholding taxes, and 5,861 shares were sold at $17.53 per share. Weil continues to hold various equity awards, including restricted stock units and performance share units tied to TFS Financial common stock, as well as an unexercised stock option covering 54,400 shares at a $19.31 exercise price. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
11 txns
Insider
WEIL MEREDITH S
Role
Chief Financial Officer
Sold
5,861 shs ($103K)
Approx. gross sale proceeds
$103K
Approx. exercise cost
$778K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F5 | 52,793 | $14.74 | $778K |
| Exercise | Common Stock F1, F2 | 52,793 | $14.74 | $778K |
| Exercise Price or Tax Liability | Common Stock F3, F2 | 46,932 | $17.50 | $821K |
| Sale | Common Stock F2 | 5,861 | $17.53 | $103K |
| holding | Restricted Stock Units F6, F7 | -- | -- | -- |
| holding | Performance Restricted Share Units F6, F8 | -- | -- | -- |
| holding | Restricted Stock Units F6, F9 | -- | -- | -- |
| holding | Restricted Stock Units F6, F10 | -- | -- | -- |
| holding | Restricted Stock Units F6, F11 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F12 | -- | -- | -- |
| holding | Common Stock F4 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 54,400 contracts (Direct);
Common Stock — 38,480 shares (Direct);
Restricted Stock Units — 35,967 contracts (Direct);
Performance Restricted Share Units — 12,700 contracts (Direct);
Common Stock — 393 shares (Indirect, By 401(k))
Footnotes (12)
- F1. These common shares were acquired upon the exercise and settlement of certain stock options.
- F2. Shares are held with shared voting power with spouse.
- F3. 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.
- F4. Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
- F5. 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.
- F6. 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.
- F7. On December 18, 2025, the reporting person received a grant of 16,500 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2026.
- F8. On November 25, 2025, the reporting person achieved performance level of 100% on a target award of 12,700 Performance Share Units ("PSUs"), resulting in a total earned award of 12,700 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 September 29, 2011, the reporting person received a grant of 3,600 restricted stock units that vest in four equal annual installments beginning May 14, 2011. Vested shares may be distributed to the Reporting Person only after that person's termination of employment with TFS Financial Corporation.
- F10. On December 19, 2024, the reporting person received a grant of 16,600 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2025.
- F11. On March 4, 2024, the reporting person received a grant of 14,400 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2024.
- F12. 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: 52,793 shares
Option exercise price: $14.74 per share
Shares delivered for exercise price and taxes: 46,932 shares at $17.50 per share
+4 more
7 metrics
Options exercised
52,793 shares
Employee stock options exercised into common stock on September 3, 2026
Option exercise price
$14.74 per share
Exercise price for 52,793 employee stock options
Shares delivered for exercise price and taxes
46,932 shares at $17.50 per share
Common shares delivered to issuer to pay exercise price and withholding tax
Shares sold
5,861 shares at $17.53 per share
Open-market or private sale of common stock on September 3, 2026
Unexercised stock option
54,400 underlying shares at $19.31
Remaining employee stock option position expiring December 15, 2026
Restricted Stock Units grant
16,500 underlying shares
RSUs granted December 18, 2025, vesting in three annual installments from December 10, 2026
Performance Share Units earned
12,700 shares
PSUs with 100% performance achieved for award dependent on results through September 30, 2025
Key Terms
Restricted Stock Units, Performance Share Units, dividend equivalent rights, withholding tax, +1 more
5 terms
Restricted Stock Units financial
"On December 18, 2025, the reporting person received a grant of 16,500 Restricted Stock Units"
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.
withholding tax financial
"delivered to the issuer to pay for the options exercise price and applicable withholding tax"
Withholding tax is a government-required portion of a payment—such as dividends, interest, or salary—that the payer keeps back and sends directly to tax authorities before the recipient receives the money. For investors it reduces the cash they actually get and changes the after-tax return on an investment; rates and refund or credit rules vary by country and can materially affect comparisons between similar investments, like a cashier holding part of a bill to cover taxes.
Section 16 regulatory
"Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What did TFSL’s CFO do in the latest Form 4 filing?
The CFO, Meredith S. Weil, exercised employee stock options for 52,793 shares of TFS Financial common stock on September 3, 2026, then used most of the shares to cover the exercise price and taxes and sold a smaller portion.
How were the option exercise costs paid in the TFSL Form 4?
To pay the option exercise price and applicable withholding tax, 46,932 shares of TFS Financial common stock were delivered to the issuer at an indicated value of $17.50 per share.
What options did the TFSL CFO exercise and at what price?
The CFO exercised employee stock options covering 52,793 shares of TFS Financial common stock at an exercise price of $14.74 per share, converting them into common shares.
What TFSL equity awards does the CFO continue to hold after these transactions?
The CFO continues to hold restricted stock units and performance share units representing underlying shares of TFS Financial common stock, plus an employee stock option covering 54,400 shares at a $19.31 exercise price expiring December 15, 2026.
Was the TFSL CFO’s trading under a Rule 10b5-1 plan?
No. The Form 4 indicates that no Rule 10b5-1 trading plan is reported for these transactions.
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