WEIL MEREDITH S 4
4 · TFS Financial CORP · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
TFS Financial (TFSL) CFO Meredith S. Weil Exercises Options, Sells Shares
What Happened
Meredith S. Weil, Chief Financial Officer of TFS Financial Corporation, exercised 50,000 stock options on June 11, 2026 at an exercise price of $14.74, generating 50,000 common shares (exercise value/cost = $737,000). To cover the exercise price and withholding taxes, Weil delivered 45,684 of those shares back to the issuer (tax-withholding/cashless component) at $16.80 per share (value reported $767,491). Additionally, 4,316 shares were sold in an open-market transaction that same day at $16.80 for proceeds of $72,509.
Key Details
- Transaction date: June 11, 2026; Form 4 filed June 12, 2026 (timely filing).
- Option exercise: 50,000 shares exercised at $14.74 (total exercise cost shown $737,000) — Transaction code M.
- Shares surrendered for exercise price / tax withholding: 45,684 shares at $16.80 (value $767,491) — Transaction code F (shares delivered to issuer to pay exercise price and applicable withholding).
- Open-market sale: 4,316 shares at $16.80 (proceeds $72,509) — Transaction code S.
- Shares owned after the transactions: not specified in the filing.
- Relevant footnotes: F1/F3 confirm these shares resulted from option exercise and that shares were delivered to the issuer to cover exercise price and withholding; additional footnotes list prior option and RSU/PSU grants and vesting schedules (historical awards noted in F5, F12 and RSU/PSU details in F7–F11, F6, F8).
Context
This was effectively a cashless exercise: Weil exercised options to acquire shares, then surrendered most of those shares to cover the exercise cost and tax withholding, with a small number sold in the open market for cash. That pattern (exercise + sell-to-cover) is a routine post-exercise tax settlement and not an outright discretionary sale of previously owned shares. The filing includes multiple footnotes describing outstanding option and restricted stock unit grants and their vesting schedules.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-06-11$14.74/sh+50,000$737,000→ 88,480 total - Tax Payment
Common Stock
[F3][F2]2026-06-11$16.80/sh−45,684$767,491→ 42,796 total - Sale
Common Stock
[F2]2026-06-11$16.80/sh−4,316$72,509→ 38,480 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F5]2026-06-11$14.74/sh−50,000$737,000→ 57,500 totalExercise: $14.74Exp: 2028-01-05→ Common Stock (50,000 underlying)
- 386(indirect: By 401(k))
Common Stock
[F4] - 16,500
Restricted Stock Units
[F6][F7]→ Common Stock (16,500 underlying) - 12,700
Performance Restricted Share Units
[F6][F8]→ Common Stock (12,700 underlying) - 3,600
Restricted Stock Units
[F6][F9]→ Common Stock (3,600 underlying) - 11,067
Restricted Stock Units
[F6][F10]→ Common Stock (11,067 underlying) - 4,800
Restricted Stock Units
[F6][F11]→ Common Stock (4,800 underlying) - 54,400
Employee Stock Option (right to buy)
[F12]Exercise: $19.31Exp: 2026-12-15→ Common Stock (54,400 underlying)
Footnotes (12)
- [F1]These common shares were acquired upon the exercise and settlement of certain stock options.
- [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.
- [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.