SEC Form 4 · accession 0001127602-16-052290
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerald Rosenfeld
Director
Period of report
May 12, 2016
Accepted (ET)
May 16, 2016 · 3:28 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 StockF1 | May 12, 2016 | M | 648 | — | A | 11,938 | D |
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,F1 | — | May 12, 2016 | M | 648 | D | — | — | Common Stock | 648 | 0 | D |
| Restricted Stock UnitsF3,F1 | — | May 12, 2016 | M | 792 | D | — | — | Common Stock | 792 | 1,585 | D |
| Deferred Share UnitF1,F6,F7,F8 | — | May 12, 2016 | M | 792 | A | — | — | Common Stock | 792 | 8,951 | D |
| Restricted Stock UnitsF1,F9,F3 | — | May 13, 2016 | M | 873 | D | — | — | Common Stock | 873 | 873 | D |
| Deferred Share UnitF1,F6,F7,F8 | — | May 13, 2016 | M | 873 | A | — | — | Common Stock | 873 | 9,824 | D |
| Restricted Stock UnitsF1,F9,F3 | — | May 14, 2016 | M | 831 | D | — | — | Common Stock | 831 | 0 | D |
| Deferred Share UnitF1,F6,F7,F8 | — | May 14, 2016 | M | 831 | A | — | — | Common Stock | 831 | 10,655 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F2Restricted stock units are scheduled to vest 100% on the first anniversary of the date of grant and shall settle 100% in shares of CIT common stock.
- F3RSUs 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.
- F4Filer elected to defer issuance of stock until no longer a member of the Board.
- F5Filer elected to receive 100% stock upon settlement.
- F6Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
- F7Filer elected to defer issuance of stock until he is no longer a member of the Board.
- F8Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.
- F9Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.