SEC Form 4 · accession 0001127602-16-052295
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ellen R Alemany
Officer — Chair & CEO · Director
Period of report
May 12, 2016
Accepted (ET)
May 16, 2016 · 3:31 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 StockF1 | May 12, 2016 | M | 648 | — | A | 149,601 | D | |
| Common StockF1 | May 12, 2016 | M | 756 | — | A | 150,358 | D | |
| Common Stock | May 12, 2016 | F | 522 | $32.07 | D | 149,836 | D | |
| Common StockF1 | May 13, 2016 | M | 833 | — | A | 150,669 | D | |
| Common Stock | May 13, 2016 | F | 310 | $31.26 | D | 150,359 | 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 UnitsF4,F1 | — | May 12, 2016 | M | 648 | D | — | — | Common Stock | 648 | 0 | D |
| Restricted Stock UnitsF5,F1 | — | May 12, 2016 | M | 756 | D | — | — | Common Stock | 756 | 1,513 | D |
| Restricted Stock UnitsF1,F6,F5 | — | May 13, 2016 | M | 833 | D | — | — | Common Stock | 833 | 833 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F2Filer elected to receive 100% stock upon settlement.
- F3Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units.
- F4Restricted 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.
- F5RSUs 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.
- F6Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.