TFS Financial CORP — Director's Dealing 2012

May 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2012-05-14

Reporting Person: Stefanski III Ben S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-14	Common Stock	M	10000	—	Acquired	61000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-14	Restricted Stock Units	$	M	10000	Disposed		Common Stock (10000)	Direct

Footnotes

F1: As reported on the Form 4 dated May 18, 2010, the reporting person received a grant of 50,000 Restricted Stock Units ("RSUs") on May 14, 2010. The RSUs vest in five equal annual installments beginning on May 14, 2011.

F2: 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.