Statement of Changes in Beneficial Ownership (4)

FORM 4 [X] 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 OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Adam Judith Z	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) Former Chief Risk Officer
(Last) (First) (Middle) 7007 BROADWAY AVENUE	3. Date of Earliest Transaction (MM/DD/YYYY) 1/4/2021
(Street) CLEVELAND, OH 44105 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	1/4/2021		M		17000 ⁽¹⁾	A	$0	83780	D
Common Stock	1/4/2021		F		4838 ⁽²⁾	D	$17.63	78942	D
Common Stock								9968	I	ESOP ⁽³⁾
Common Stock								56657	I	401(k) ⁽³⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽⁴⁾	1/4/2021		M			17000	⁽¹⁾	⁽¹⁾	Common Stock	17000.0	$0	0	D
Employee Stock Option (right to buy)	$15.08							⁽⁵⁾	6/1/2023 ⁽¹⁾	Common Stock	26000.0		26000	D
Employee Stock Option (right to buy)	$14.74							⁽⁶⁾	6/1/2023 ⁽¹⁾	Common Stock	17000.0		17000	D

Explanation of Responses:
(1)	In connection with the retirement of the reporting person effective June 1, 2020, remaining restricted stock units to be issued under the accelerated vesting is issued six months after the reporting person's retirement, in accordance with IRS Section 409A regulations. In addition, all remaining stock options have an adjusted expiration date of June 1, 2023.
(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)	As reported on a Form 4 dated December 15, 2014, the reporting person received a grant of 26,000 stock options. These stock options vest 100% on December 10, 2017.
(6)	On January 5, 2018, the reporting person received a grant of 17,000 stock options. These options fully vest on December 10, 2020.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Adam Judith Z 7007 BROADWAY AVENUE CLEVELAND, OH 44105			Former Chief Risk Officer