TFS Financial (NASDAQ: TFSL) CXO reports RSU vesting, tax share sale

Rhea-AI Filing Summary

TFS Financial Corporation’s Chief Experience Officer reported equity compensation activity dated December 10, 2025. The officer acquired 1,433 shares of common stock at $0 when restricted stock units vested, and delivered 658 shares at $13.91 to the company to cover withholding taxes, leaving 775 shares held directly.

The officer also reports indirect ownership of 32,766 common shares held in trust and 3,256 shares through an ESOP. Following the transactions, the officer continues to hold 2,867 restricted stock units from a 4,300-unit grant that vests in three annual installments beginning December 10, 2025, another 15,000 restricted stock units that fully vest on December 10, 2026, and 5,000 stock options with a $14.62 exercise price expiring January 5, 2028.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Stefanski Gavin B

(Last) (First) (Middle)

7007 BROADWAY AVENUE

(Street)

CLEVELAND OH 44105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TFS Financial CORP [ TFSL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Experience Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/10/2025		M		1,433(1)	A	$0	1,433	D
Common Stock	12/10/2025		F		658(2)	D	$13.91	775	D
Common Stock								32,766	I	In Trust
Common Stock								3,256	I	ESOP(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(4)	12/10/2025		M			1,433	(5)	(5)	Common Stock	1,433	$0	2,867	D
Restricted Stock Units	(4)							(6)	(6)	Common Stock	15,000		15,000	D
Employee Stock Option (right to buy)	$14.62							(7)	01/05/2028	Common Stock	5,000		5,000	D

Explanation of Responses:

1. These common shares were acquired upon the vesting and settlement of certain restricted stock units (RSUs).

2. These common shares were delivered to the issuer to pay for applicable withholding tax due upon the exercise of certain restricted stock units or performance share units.

3. Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.

4. 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.

5. On December 19, 2024, the reporting person received a grant of 4,300 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2025.

6. On March 4, 2024, the reporting person received a grant of 15,000 Restricted Stock Units (RSUs). These RSUs fully vest on December 10, 2026.

7. On April 2, 2018, the reporting person received 5,000 stock options. These options fully vest on December 10, 2020.

Remarks:

	/s/ Susanne N. Miller, Pursuant to Power of Attorney	12/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did TFS Financial (TFSL) report on December 10, 2025?

On December 10, 2025, TFS Financial’s Chief Experience Officer reported that 1,433 common shares were acquired at $0 upon vesting and settlement of restricted stock units, and 658 shares were delivered back to the issuer at $13.91 to satisfy withholding taxes.

How many TFS Financial (TFSL) shares does the officer own after this Form 4 transaction?

After the reported transactions, the officer holds 775 common shares directly, 32,766 common shares indirectly in trust, and 3,256 shares indirectly through an ESOP. The officer also beneficially owns equity awards in the form of restricted stock units and stock options.

What restricted stock unit (RSU) awards does the TFS Financial officer hold?

The officer holds 2,867 restricted stock units remaining from a 4,300-unit grant received on December 19, 2024, which vests in three equal annual installments beginning December 10, 2025. The officer also holds an additional 15,000 restricted stock units from a grant on March 4, 2024 that fully vests on December 10, 2026.

What do the M and F transaction codes mean in the TFS Financial (TFSL) Form 4?

In this Form 4, code M indicates common shares acquired upon the vesting and settlement of restricted stock units. Code F indicates common shares delivered to the issuer to pay applicable withholding tax due upon the exercise of restricted stock units or performance share units.

What stock options does the TFS Financial officer report holding?

The officer reports 5,000 employee stock options with a $14.62 exercise price, each option representing the right to buy one share of TFS Financial common stock. These options were granted on April 2, 2018 and fully vested on December 10, 2020, with an expiration date of January 5, 2028.

How are dividend equivalents treated on the TFS Financial restricted stock units?

Each restricted stock unit represents a contingent right to receive one share of TFS Financial common stock and is entitled to dividend equivalent rights in the form of a cash payment equal to any cash dividend paid per share of common stock.