SEC Form 4 · accession 0001127602-16-046784
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James L Hudak
Officer — President, Commercial Banking
Period of report
Mar 15, 2016
Accepted (ET)
Mar 17, 2016 · 4:17 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 | 13,069 | — | A | 63,953 | D | |
| Common StockF4 | Mar 15, 2016 | A | 5,828 | — | A | 69,782 | D | |
| Common Stock | Mar 15, 2016 | F | 2,597 | $32.52 | D | 67,185 | D | |
| Common StockF4 | Mar 15, 2016 | A | 2,907 | — | A | 70,092 | D | |
| Common Stock | Mar 15, 2016 | F | 1,508 | $32.52 | D | 68,584 | 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.
- F3Shares acquired upon final certification of performance share units awarded for the 2013-2015 performance period.
- F4Each performance share unit ("PSU") had the economic equivalent of one share of CIT common stock.
- F5Shares withheld to satisfy tax withholding obligations arising from settlement of performance share units.
- F6Shares acquired upon certification of first installment of performance share units awarded for the 2015-2017 performance period.