SEC Form 4 · accession 0001127602-17-027036
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth McPhail
Officer — EVP, Chief Strategy Officer
Period of report
Sep 1, 2017
Accepted (ET)
Sep 6, 2017 · 3:27 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 | Sep 1, 2017 | A | 5,858 | — | A | 5,858 | D | |
| Common StockF2 | Sep 1, 2017 | A | 4,421 | — | A | 10,279 | 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 70% on June 15, 2019 and 30% on June 15, 2020, 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 has the economic equivalent of one share of CIT common stock.
- F3Performance Based Restricted Stock Units ("PBRSU") are scheduled to settle 100% in stock and vest one-third on September 1, 2018 and 1/3 per year in March 15, 2019 and 2020, subject to a performance based vesting hurdle (minimum Common Equity Tier 1 for well-capitalized Banks as established by the Federal Reserve Board).