Meredith S. Weil, Chief Financial Officer and Director of TFS Financial Corp (NASDAQ:TFSL), filed a Form 4 on September 4, 2026, reporting multiple transactions in common stock on September 3, 2026, including an option exercise, a tax-related share disposition, and an open-market sale.

Key Highlights

  • Option exercise: Weil exercised 52,793 employee stock options at an exercise price of $14.74 per share, acquiring 52,793 shares of common stock.
  • Shares withheld for taxes: 46,932 shares were delivered to the issuer to cover the option exercise price and applicable withholding taxes, at $17.50 per share.
  • Open-market sale: 5,861 shares were sold at $17.53 per share on September 3, 2026.
  • Resulting direct ownership: Following all reported transactions, Weil directly beneficially owned 38,480 shares of common stock, plus 393 shares held indirectly through a 401(k).
  • Remaining derivative securities: Weil holds 54,400 employee stock options at an exercise price of $19.31, expiring December 15, 2026, along with multiple tranches of Restricted Stock Units and Performance Restricted Share Units totaling 48,667 underlying shares.
  • PSU outcome: According to the filing, on November 25, 2025, Weil achieved a performance level of 100% on a target award of 12,700 Performance Share Units, resulting in a total earned award of 12,700 shares, with distribution scheduled for December 10, 2026.

TFS Financial CFO Option Exercise and Share Transactions in Detail

According to the filing, Weil exercised 52,793 stock options on September 3, 2026, at a price of $14.74 per share. The filing notes these options were originally granted on a Form 4 dated January 8, 2018, as part of a 187,500-share option award vesting in three equal annual installments beginning December 10, 2018. Following the exercise, the option position was reduced to zero remaining shares under that grant.

Of the shares acquired, 46,932 were disposed of on the same date at $17.50 per share and delivered back to the issuer to satisfy the exercise price and applicable withholding taxes, as described in the filing. An additional 5,861 shares were sold on the open market at $17.53 per share. After these dispositions, Weil's direct beneficial ownership stood at 38,480 shares, held with shared voting power with a spouse, per the filing. An additional 393 shares are held indirectly through a 401(k) plan, which the filing notes reflects transactions not required to be reported under Section 16.

The filing also discloses several remaining derivative security positions. These include 54,400 employee stock options at an exercise price of $19.31 expiring December 15, 2026, as well as RSU grants from December 2025 (16,500 units), December 2024 (11,067 units remaining of the original 16,600), and March 2024 (4,800 units remaining of the original 14,400), plus 3,600 RSUs tied to a 2011 grant distributable only upon termination of employment. The filing was signed by Susanne N. Miller pursuant to a power of attorney.

What Was Disclosed

The Form 4 discloses an option exercise, a tax-related share withholding, and a sale of common stock by TFS Financial's CFO on September 3, 2026, along with remaining derivative holdings including RSUs, PSUs, and unexercised stock options.