TFS Financial CORP — Director's Dealing 2017

May 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2017-05-16

Reporting Person: Asher Anthony J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-16	Common Stock	S	22000	$16.42	Disposed	37980	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4165	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (2300.0)	2300	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: On December 15, 2016, the reporting person received a grant of 2,300 Restricted Stock Units (RSUs), which fully vest on December 10, 2017.