SEC Form 4 · accession 0001127602-16-059565

CIT GROUP INC · CIT

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Aug 3, 2016

Accepted (ET)

Aug 5, 2016 · 10:36 am 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 Stock^F2	Aug 3, 2016	M	504	—	A	7,180	D
Common Stock	Aug 3, 2016	D	252	$33.82	D	6,927	D
Common Stock^F3	holding	—	—		—	9,097	I	Held by Frank Living Trust dated 10/28/1993, as amended

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F4,F2	—	Aug 3, 2016	M	504	D	—	—	Common Stock	504	1,009	D

F1The restricted stock units settled 50% in stock and 50% in cash, which was deemed to occur through an acquisition of 100% of the underlying shares of CIT common stock and a simultaneous disposition to the issuer of 50% of the underlying shares of CIT common stock.
F2Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
F3Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), the Reporting Person may be deemed to be the beneficial owner of the securities reported herein only to the extent of his pecuniary interest therein. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.
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.