TFS Financial (TFSL) CFO Meredith S. Weil Exercises Options, Sells Shares

What Happened

• Meredith S. Weil, Chief Financial Officer of TFS Financial Corporation, exercised 4,707 stock options on August 28, 2026 (total exercise value shown $69,381 at $14.74/share). To cover the exercise price and withholding taxes, 4,107 of the newly issued shares were delivered back to the company (valued at $18.00/share, $73,926). The remaining 600 shares were sold in the open market at $18.00 each for proceeds of $10,800.
• This is a routine option exercise with a simultaneous share surrender (sell‑to‑cover) and a small open‑market sale; it does not necessarily indicate a change in the insider’s long‑term view.

Key Details

• Transaction date: August 28, 2026.
• Exercise: 4,707 shares acquired via option exercise at $14.74/share (total $69,381) — code M.
• Share surrender for exercise price and tax withholding: 4,107 shares delivered at $18.00/share (value $73,926) — code F (sell-to-cover).
• Open‑market sale: 600 shares sold at $18.00/share for $10,800 — code S.
• Net effect on share count: All 4,707 shares from the exercise were disposed (4,107 surrendered + 600 sold), so there was no net increase in outstanding shares held by the reporting person from this transaction.
• Footnotes: F1 confirms shares were acquired upon exercise of stock options; F3 confirms shares were delivered to the issuer to pay exercise price and withholding tax.
• Filing: Form 4 filed August 31, 2026 (the filing shows the same-day transactions and appears to be within the standard SEC reporting window).

Context

• This is a common "cashless" or "sell‑to‑cover" option exercise: options were exercised to create shares, some shares were surrendered to cover the exercise cost and taxes, and the remainder were sold on the open market.
• Such transactions are often routine compensation events and don’t necessarily reflect the insider’s market view.