SEC Form 4 · accession 0001127602-17-012184
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, 2017
Accepted (ET)
Mar 17, 2017 · 4:44 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, 2017 | A | 10,219 | — | A | 59,027 | D | |
| Common StockF4 | Mar 15, 2017 | A | 2,889 | — | A | 61,916 | D | |
| Common Stock | Mar 15, 2017 | F | 1,490 | $41.59 | D | 60,426 | D | |
| Common StockF4 | Mar 15, 2017 | A | 2,985 | — | A | 63,411 | D | |
| Common Stock | Mar 15, 2017 | F | 1,540 | $41.59 | D | 61,871 | 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 in March 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 ("PBRSU") has the economic equivalent of one share of CIT common stock.
- F3Shares acquired upon final certification of performance share units awarded for the 2014-2016 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 the second tranche of performance share units awarded for the 2015-2017 performance period.