Zbanek Cathy W 4

What Happened
Cathy W. Zbanek, Chief Synergy Officer of TFS Financial Corporation (TFSL), sold 10,000 shares in an open-market transaction on May 18, 2026 at $15.26 per share for total proceeds of $152,600. This was a sale (transaction code S), which is often routine insider selling and does not by itself indicate company performance.

Key Details

• Transaction date: May 18, 2026; reported on Form 4 filed May 20, 2026.
• Price and proceeds: 10,000 shares × $15.26 = $152,600.
• Transaction type: Open-market sale (S).
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes in the filing: F1–F8 describe other awards/holdings — including RSU and PSU grants, vesting schedules, and outstanding stock options (see highlights below).
• Filing timeliness: Reported two days after the transaction date; the filing does not indicate lateness.

Notable footnote highlights (from the filing):

• F2: RSUs/PSUs represent contingent rights to receive shares and include dividend equivalents.
• F3–F5: Multiple recent RSU grants (dates and vesting schedules listed for 2024–2025 grants).
• F6: 12,400 PSUs earned (100% of target) based on performance through Sept 30, 2025; those shares and dividend equivalents vest/distribute Dec 10, 2026.
• F7–F8: Earlier stock option grants with multi-year vesting schedules.

Context
Sales by executives can be for many personal reasons (diversification, tax planning, etc.). This single open-market sale reduces insider holdings by the reported amount but, without further ownership data or a pattern of trades, should be interpreted cautiously. No 10b5-1 plan or other trading-plan attribution is disclosed in the provided filing.