SEC Form 4 · accession 0001127602-17-018350
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sheila A Stamps
Director
Period of report
May 12, 2017
Accepted (ET)
May 16, 2017 · 4:18 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 StockF3 | May 12, 2017 | M | 756 | — | A | 5,269 | D | |
| Common StockF3 | May 13, 2017 | M | 833 | — | A | 6,102 | D | |
| Common StockF4 | May 13, 2017 | D | 417 | $46.87 | D | 5,685 | D | |
| Common StockF3 | May 15, 2017 | M | 1,199 | — | A | 6,885 | D | |
| Common Stock | May 15, 2017 | D | 600 | $47.31 | D | 6,285 | 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 UnitsF1,F3 | — | May 12, 2017 | M | 756 | D | — | — | Common Stock | 756 | 756 | D |
| Restricted Stock UnitsF3,F6,F1 | — | May 13, 2017 | M | 833 | D | — | — | Common Stock | 833 | 0 | D |
| Restricted Stock UnitsF3,F6,F5 | — | May 15, 2017 | M | 1,199 | D | — | — | Common Stock | 1,199 | 2,399 | D |
Explanation of responses
- F1RSUs 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.
- F2Filer elected to receive 100% stock upon settlement.
- F3Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F4The restricted stock units vested on a Saturday, therefore, the closing price of CIT common stock on the immediately preceding Friday was used for the settlement.
- F5RSUs are scheduled to vest in three equal installments on May 15, 2017, 2018, and 2019 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.