SEC Form 4 · accession 0001127602-15-017302
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David M Moffett
Director
Period of report
May 12, 2015
Accepted (ET)
May 14, 2015 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001171825
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2,F3 | — | May 12, 2015 | A | 2,053 | A | — | — | Common Stock | 2,053 | 2,053 | D |
| Restricted Stock UnitsF5,F4,F1 | — | May 13, 2015 | M | 754 | D | — | — | Common Stock | 754 | 1,508 | D |
| Deferred Share UnitF5,F6,F2,F7 | — | May 13, 2015 | M | 754 | A | — | — | Common Stock | 754 | 5,437 | D |
Explanation of responses
- F1RSUs are scheduled to vest in three equal installments on the first, second and third anniversaries of the date of grant and are payable 50% in shares of CIT common stock and 50% in cash. The cash payment shall be based on the closing price of CIT common stock on the vesting date.
- F2Filer elected to defer issuance of stock until he is no longer a member of the Board.
- F3Filer elected to receive 100% stock upon settlement.
- F4Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- F5Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F6Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
- F7Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.