TFS Financial CORP — Director's Dealing 2016

May 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2016-05-26

Reporting Person: Ozan Terrence R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-26	Common Stock	M	10000	—	Acquired	56400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-26	Restricted Stock Units	$	M	10000	Disposed		Common Stock (10000.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (2200.0)	2200	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: As reported on a Form 4 filed May 26, 2011, 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.

F3: As reported on a Form 4 dated December 17, 2015, the reporting person received a grant of 2,200 Restricted Stock Units ("RSUs") on December 17, 2015, which vest 100% on December 10, 2016.