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TFSL > SEC Filings for TFSL > Form 8-K on 5-Mar-2014All Recent SEC Filings

Show all filings for TFS FINANCIAL CORP

Form 8-K for TFS FINANCIAL CORP


5-Mar-2014

Other Events


Item 8.01. Other Events.

TFS Financial Corporation (the "Company") reported that on March 5, 2014, Marc A. Stefanski, the Chairman and Chief Executive Officer of the Company, entered into a new stock trading plan implemented pursuant to Rule 10b5-1 under the Securities and Exchange Act of 1934, as amended. Under Rule 10b5-1, directors, officers and other employees who are not in possession of material non-public information may adopt a pre-arranged plan or contract for the sale of Company securities under specified conditions and at specified times. Using these 10b5-1 plans, individuals can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact and avoid concerns about transactions occurring at a time when they might possess material non-public information.

Mr. Stefanski's trading plan is a part of his asset diversification, tax and financial planning strategy. The plan contemplates the sale of up to 50,000 shares of Company Stock, in specified share amounts on specified dates at market prices, subject to specified limitations. Sales pursuant to Mr. Stefanski's plan are expected to begin as early as April 1, 2014 and will end no later than August 2014.

Transactions made under the 10b5-1 plan will be disclosed publicly through Form 4 filings with the U.S. Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 pre-planned stock trading plans of Company officers, nor to report modifications or terminations of the aforementioned 10b5-1 plans or the plan of any other individual.


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