SEC Form 4 · accession 0001127602-16-046778
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steve Solk
Officer — President, Business Capital
Period of report
Mar 15, 2016
Accepted (ET)
Mar 17, 2016 · 4:13 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 | Mar 15, 2016 | A | 6,919 | — | A | 6,919 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Performance Based Restricted Stock Units ("PBRSU") are scheduled to settle 100% in stock and vest one-third per year on March 1, 2017, 2018 and 2019, subject to a performance based vesting hurdle (minimum Common Equity Tier 1 for well-capitalized Banks as established by the Federal Reserve Board).
- F2Each performance based restricted stock unit has the economic equivalent of one share of CIT common stock.