Sec Form 4 Filing - Motta Anna Maria P @ TFS Financial CORP - 2020-12-10

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Motta Anna Maria P 2. Issuer Name and Ticker or Trading Symbol TFS Financial CORP [ TFSL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Information Officer (Last) (First) (Middle) 7007 BROADWAY AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 12/10/2020 (Street) CLEVELAND, OH44105 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/10/2020 M 17,000 ( 1 ) A $ 0 94,000 D Common Stock 12/10/2020 M 1,500 ( 1 ) A $ 0 95,500 D Common Stock 12/10/2020 M 1,200 ( 1 ) A $ 0 96,700 D Common Stock 12/10/2020 F 5,160 ( 2 ) D $ 17.65 91,540 D Common Stock 13,673 I 401(k) ( 3 ) Common Stock 10,329 I ESOP ( 3 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Performance Restricted Share Units ( 4 ) ( 5 ) ( 5 ) Common Stock 7,650 7,650 D Restricted Stock Units ( 4 ) 12/10/2020 M 17,000 ( 6 ) ( 6 ) Common Stock 17,000 $ 0 0 D Restricted Stock Units ( 4 ) 12/10/2020 M 1,200 ( 7 ) ( 7 ) Common Stock 1,200 $ 0 2,400 D Restricted Stock Units ( 4 ) 12/10/2020 M 1,500 ( 8 ) ( 8 ) Common Stock 1,500 $ 0 1,500 D Employee Stock Option (right to buy) $ 15.08 ( 9 ) 12/11/2024 Common Stock 21,000 21,000 D Employee Stock Option (right to buy) $ 14.74 ( 10 ) 01/05/2028 Common Stock 17,000 17,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Motta Anna Maria P 7007 BROADWAY AVENUE CLEVELAND, OH44105 Chief Information Officer Signatures /s/ Paul J. Huml, Pursuant to Power of Attorney 12/14/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )These common shares were acquired upon the vesting and settlement of certain restricted stock units. ( 2 )These common shares were delivered to the issuer to pay for the applicable withholding tax due upon vesting of certain restricted stock units. ( 3 )Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended. ( 4 )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. ( 5 )On November 24, 2020, the reporting person achieved performance level of 112.5% on a target award of 6,800 Performance Share Units ("PSUs"), resulting in a total earned award of 7,650 shares. This represents the final determination of a December 20, 2018 award that was dependent on certain performance results during the two fiscal year period ended September 30, 2020. 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, 2021. ( 6 )On January 5, 2018, the reporting person received a grant of 17,000 Restricted Stock Units ("RSUs"). These RSUs fully vest on December 10, 2020. ( 7 )On December 19, 2019, the reporting person received a grant of 3,600 Restricted Stock Units (RSUs). These RSUs vest in three equal annual installments beginning December 10, 2020 ( 8 )On December 20, 2018, the reporting person received a grant of 4,500 Restricted Stock Units ("RSUs"). These RSUs vest in three equal annual installments beginning December 10, 2019. ( 9 )As reported on a Form 4 dated December 15, 2014, the reporting person received a grant of 26,000 stock options. These stock options fully vest on December 10, 2017. ( 10 )On January 5, 2018, the reporting person received a grant of 17,000 stock options. These options fully vest on December 10, 2020.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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