SEC Form 4 · accession 0001127602-17-018355
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marianne M Parrs
Director
Period of report
May 12, 2017
Accepted (ET)
May 16, 2017 · 4:24 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 | 937 | — | A | 11,012 | D | |
| Common Stock | May 12, 2017 | D | 468 | $46.87 | D | 10,543 | D | |
| Common StockF2 | May 13, 2017 | M | 1,032 | — | A | 11,575 | D | |
| Common StockF3 | May 13, 2017 | D | 516 | $46.87 | D | 11,059 | D | |
| Common StockF2 | May 15, 2017 | M | 1,299 | — | A | 12,358 | D | |
| Common Stock | May 15, 2017 | D | 650 | $47.31 | D | 11,709 | 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 | 937 | D | — | — | Common Stock | 937 | 937 | D |
| Restricted Stock UnitsF2,F5,F1 | — | May 13, 2017 | M | 1,032 | D | — | — | Common Stock | 1,032 | 0 | D |
| Restricted Stock UnitsF2,F5,F4 | — | 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.
- F3The 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.
- F4RSUs 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.
- F5Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.