SEC Form 4 · accession 0001127602-17-018353
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John R Ryan
Director
Period of report
May 12, 2017
Accepted (ET)
May 16, 2017 · 4:20 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 | May 12, 2017 | M | 864 | — | A | 8,354 | D | |
| Common Stock | May 12, 2017 | D | 432 | $46.87 | D | 7,922 | D | |
| Common Stock | May 15, 2017 | D | 650 | $47.31 | D | 7,272 | D | |
| Common StockF2 | May 15, 2017 | M | 1,299 | — | A | 8,572 | 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,F2 | — | May 12, 2017 | M | 864 | D | — | — | Common Stock | 864 | 864 | D |
| Restricted Stock UnitsF2,F4,F1 | — | May 13, 2017 | M | 952 | D | — | — | Common Stock | 952 | 0 | D |
| Deferred Share UnitF2,F7,F8,F9 | — | May 13, 2017 | M | 952 | A | — | — | Common Stock | 952 | 8,375 | D |
| Restricted Stock UnitsF2,F4,F3 | — | May 15, 2017 | M | 1,299 | D | — | — | Common Stock | 1,299 | 2,599 | 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.
- F2Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F3RSUs 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.
- F4Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- F5Filer elected to defer issuance of stock until no longer a member of the Board.
- F6Filer elected to receive 100% stock upon settlement.
- F7Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
- F8Filer elected to defer issuance of stock until he is no longer a member of the Board.
- F9Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.