TFS Financial Corp Files DEF 14A with Executive Compensation Details

TL;DR

<b>TFS Financial Corp has filed its DEF 14A, detailing executive compensation and performance metrics for the fiscal year ending September 30, 2023.</b>

AI Summary

TFS Financial CORP (TFSL) filed a Proxy Statement (DEF 14A) with the SEC on January 10, 2024. Filing is a DEF 14A for TFS Financial Corp, filed on January 10, 2024. The report covers the fiscal year ending September 30, 2023. Includes data on executive compensation, specifically changes in pension values and equity awards. Details equity awards granted and their fair values at grant date and year-end. Compares performance against the S&P US BMI Banks Index for fiscal years 2021-2023.

Why It Matters

For investors and stakeholders tracking TFS Financial CORP, this filing contains several important signals. This filing provides crucial insights into how TFS Financial Corp compensates its executives, including the impact of pension plans and equity awards. The inclusion of performance comparisons against the S&P US BMI Banks Index allows investors to assess the company's relative performance and executive incentive alignment.

Risk Assessment

Risk Level: — TFS Financial CORP shows moderate risk based on this filing. The filing is a routine DEF 14A, primarily disclosing executive compensation and performance data, with no immediate indicators of significant financial distress or operational issues.

Analyst Insight

Review the executive compensation breakdown and performance metrics against the S&P US BMI Banks Index to understand pay-for-performance alignment.

Key Numbers

• 2023-09-30 — Fiscal Year End (Reporting period)
• 2024-01-10 — Filing Date (Date of submission)

Key Players & Entities

• TFS Financial Corp (company) — Filer of the DEF 14A
• 2024-01-10 (date) — Filing date
• 2023-09-30 (date) — Fiscal year end
• S&P US BMI Banks Index (company) — Benchmark index for performance comparison

Forward-Looking Statements

• TFS Financial will continue to disclose executive compensation in a similar format in future DEF 14A filings. (TFS Financial CORP) — high confidence, target: 2025-01-10

FAQ

Industry Context

TFS Financial Corp operates as a savings institution, federally chartered, within the financial services sector.

Regulatory Implications

As a federally chartered savings institution, TFS Financial Corp is subject to regulations from relevant financial authorities, though specific regulatory actions are not detailed in this filing.

What Investors Should Do

1. Analyze the specific dollar amounts and percentages related to executive compensation and equity awards.
2. Compare the company's performance metrics against the S&P US BMI Banks Index for the reported fiscal years.
3. Investigate any changes in executive compensation policies or structures compared to previous filings.

Key Dates

• 2024-01-10: DEF 14A Filing — Disclosure of executive compensation and performance data for the fiscal year ending 2023-09-30.

Glossary

DEF 14A

Definitive Proxy Statement (Required filing for companies soliciting proxies from shareholders, often containing executive compensation and corporate governance details.)

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard disclosure for executive compensation and shareholder matters, and does not represent a change in the company's operational or financial reporting compared to previous filings of the same type.

Filing Documents

• tfsl-20240109.htm (DEF 14A) — 979KB
• tfsl-20240109_g1.jpg (GRAPHIC) — 653KB
• tfsl-20240109_g2.jpg (GRAPHIC) — 671KB
• tfsl-20240109_g3.jpg (GRAPHIC) — 117KB
• tfsl-20240109_g4.jpg (GRAPHIC) — 105KB
• tfsl-20240109_g5.jpg (GRAPHIC) — 121KB
• tfsl-20240109_g6.jpg (GRAPHIC) — 116KB
• 0001381668-24-000007.txt (&nbsp;) — 5719KB
• tfsl-20240109.xsd (EX-101.SCH) — 4KB
• tfsl-20240109_def.xml (EX-101.DEF) — 6KB
• tfsl-20240109_lab.xml (EX-101.LAB) — 9KB
• tfsl-20240109_pre.xml (EX-101.PRE) — 5KB
• tfsl-20240109_htm.xml (XML) — 94KB

Executive Compensation

Executive Compensation 14 Pay Versus Performance 35 Pay Ratio 37 Director Compensation 38 Compensation Committee Report 40

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 41 Certain Relationships and Related Transactions 42 Delinquent Section 16(a) Reports 42 Proposal Two: Advisory Vote on Executive Compensation 43 Proposal Three: Ratification of the Selection of Deloitte & Touche LLP as the Company's Independent Accountant 44 Stockholder Proposals for 2024 Annual Meeting of Stockholders 45 Other Matters 45 TFS FINANCIAL CORPORATION 7007 Broadway Avenue Cleveland, Ohio 44105 PROXY STATEMENT Our Board of Directors is providing this proxy statement to ask for your vote as a stockholder of TFS Financial Corporation (the "Company," "we," "us" or "our") on certain matters to be voted on at our next annual meeting of stockholders, which will be held at the offices of Third Federal Savings and Loan, 7007 Broadway Avenue, Cleveland, Ohio 44105, on Thursday, February 22, 2024, at 9:00 a.m., Eastern Time. We are making these proxy materials, along with our 2023 Annual Report to Stockholders, available to you electronically on or about January 10, 2024. ABOUT THE MEETING What Is the Purpose of the Annual Meeting of Stockholders? At our annual meeting of stockholders, stockholders will act upon the matters outlined in the accompanying notice of meeting, including the election of three directors, an advisory vote on the compensation of our named executive officers and a proposal to ratify the selection of Deloitte & Touche LLP as the Company's independent accountant for the Company's fiscal year ending September 30, 2024. We are not aware of any other matter that will be presented for your vote at the meeting. Who Is Entitled to Vote? Only stockholders of record at the close of business on the record date, December 27, 2023, are entitled to receive notice of and to vote the shares of our common stock that they held on the record date at the meeting, or any postponement or adjournment of the meeting. Each outstanding share of common stock entitles its hol

View Full Filing

View this DEF 14A filing on SEC EDGAR