SEC Form 4 · accession 0001127602-15-017606
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Seymour Sternberg
Director
Period of report
May 14, 2015
Accepted (ET)
May 18, 2015 · 2:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001171825
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | May 14, 2015 | M | 831 | — | A | 22,923 | D | |
| Common StockF2 | May 15, 2015 | M | 1,025 | — | A | 23,948 | D | |
| Common Stock | holding | — | — | — | 0 | I | Seymour Sternberg 2010 Grantor Retained Annuity Trust u/a/d 12/08/2010 (GRAT Trust) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3,F4 | — | May 14, 2015 | M | 831 | D | — | — | Common Stock | 831 | 831 | D |
| Restricted Stock UnitsF2,F3,F4 | — | May 15, 2015 | M | 1,025 | D | — | — | Common Stock | 1,025 | 0 | D |
Explanation of responses
- F1Filer elected to receive 100% stock upon settlement.
- F2Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F3Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- F4RSUs 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.