4Filed Aug 30, 8:00 PM ET
TFS Financial (TFSL) CFO Meredith S. Weil Exercises Options, Sells Shares
$TFSL · TFS Financial CORPResearch Summary
AI-generated summary of this SEC 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 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.