TFS Financial CORP — Director's Dealing 2011

May 26, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2011-05-26

Reporting Person: Ozan Terrence R (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-26	Restricted Stock Units	$	A	50000	Acquired		Common Stock (50000)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of TFS Financial Corporation common stock. Restricted 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.

F2: The reporting person received a grant of 50,000 Restricted Stock Units ("RSUs") on May 26, 2011. On each annual vesting date, beginning on May 26, 2012 and ending May 26, 2016, 20% of the RSUs will vest which will result in the issuance of 10,000 shares of TFS Financial Corporation common stock to the reporting person.