Zbanek Cathy W 4
4 · TFS Financial CORP · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
TFS Financial (TFSL) Cathy Zbanek Exercises Stock Options
What Happened Cathy W. Zbanek, Chief Synergy Officer of TFS Financial Corporation (TFSL), exercised 67,500 stock options on June 15, 2026. The exercise is reported as 67,500 shares @ $14.74 (reported value $994,950). To cover the options’ exercise price and withholding tax, 61,334 of the resulting shares were delivered back to the issuer (reported as disposed) at a reported value of $16.92 per share (value $1,037,771). After the withholding, approximately 6,166 shares were issued to Ms. Zbanek (67,500 exercised minus 61,334 withheld).
Key Details
- Transaction date: 2026-06-15; Form 4 filed 2026-06-16 (timely filing).
- Option exercise: 67,500 shares @ $14.74 — reported amount $994,950.
- Shares withheld to pay exercise price/taxes: 61,334 shares @ $16.92 — reported amount $1,037,771.
- Net shares issued to insider (approx.): 6,166 shares retained after withholding.
- Shares owned after transaction: not specified in the provided filing summary.
- Relevant footnotes: F1 (shares acquired on exercise); F2 (shares delivered to issuer to pay exercise price and withholding); F10 & F4 reference the original option grants (2016 and 2018) and vesting schedules.
Context This was a routine option exercise with shares withheld to cover the exercise cost and tax withholding (a cashless-type settlement), which is common and does not necessarily signal a change in the insider’s view of the company. The filing shows both the exercise (derivative conversion) and the share delivery to the issuer for payment of exercise price/taxes. No late filing was indicated in the provided data.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-06-15$14.74/sh+67,500$994,950→ 136,319 total - Tax Payment
Common Stock
[F2]2026-06-15$16.92/sh−61,334$1,037,771→ 74,985 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F4]2026-06-15$14.74/sh−67,500$994,950→ 0 totalExercise: $14.74Exp: 2028-01-05→ Common Stock (67,500 underlying)
- 14,234(indirect: By ESOP)
Common Stock
[F3] - 5,323(indirect: By 401(k))
Common Stock
[F3] - 15,800
Restricted Stock Units
[F5][F6]→ Common Stock (15,800 underlying) - 4,734
Restricted Stock Units
[F5][F7]→ Common Stock (4,734 underlying) - 10,600
Restricted Stock Units
[F5][F8]→ Common Stock (10,600 underlying) - 12,400
Performance Restricted Share Units
[F5][F9]→ Common Stock (12,400 underlying) - 79,400
Employee Stock Option (right to buy)
[F10]Exercise: $19.31Exp: 2026-12-15→ Common Stock (79,400 underlying)
Footnotes (10)
- [F1]These common shares were acquired upon the exercise and settlement of certain stock options.
- [F10]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]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.
- [F3]Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
- [F4]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.
- [F5]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.
- [F6]On December 18, 2025, the reporting person received a grant of 15,800 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2026.
- [F7]On March 4, 2024, the reporting person received a grant of 14,200 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2024.
- [F8]On December 19, 2024, the reporting person received a grant of 15,900 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2025.
- [F9]On November 25, 2025, the reporting person achieved performance level of 100% on a target award of 12,400 Performance Share Units ("PSUs"), resulting in a total earned award of 12,400 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.