TFS Financial CORP — Director's Dealing 2025

Nov 26, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TFS Financial CORP (TFSL)
CIK: 0001381668
Period of Report: 2025-11-25

Reporting Person: Mulhern Timothy W (Chief Innovation Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-25	Performance Restricted Share Units	$	A	5700	Acquired		Common Stock (5700)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14413	Direct
Common Stock	16742	Indirect
Common Stock	9177	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (2134)	2134	Direct
Restricted Stock Units	$		Common Stock (4334)	4334	Direct
Performance Restricted Share Units	$		Common Stock (8730)	8730	Direct
Employee Stock Option (right to buy)	$14.74	2028-01-15	Common Stock (5000)	5000	Direct

Footnotes

F1: Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.

F2: 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.

F3: On November 25, 2025, the reporting person achieved performance level of 100% on a target award of 5,700 Performance Share Units ("PSUs"), resulting in a total earned award of 5,700 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.

F4: 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.

F5: On December 15, 2022, the reporting person received a grant of 6,400 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2023.

F6: On March 4, 2024, the reporting person received a grant of 6,500 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2024.

F7: On November 21, 2024, the reporting person achieved performance level of 90.0% on a target award of 9,700 Performance Share Units ("PSUs"), resulting in a total earned award of 8,730 shares. This represents the final determination a December 15, 2022 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2024. 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, 2025.

F8: On January 5, 2018, the reporting person received a grant of 5,000 stock options. These options fully vest on December 10, 2020.