SEC Form 4 · accession 0001127602-18-003618
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Sterling Jones
Officer — President, Business Capital
Period of report
Jan 31, 2018
Accepted (ET)
Feb 2, 2018 · 3:45 pm EST
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 | Jan 31, 2018 | A | 3,334 | — | A | 3,948 | D | |
| Common Stock | Feb 1, 2018 | F | 61 | $52.10 | D | 3,887 | 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 on February 1, 2019, 2020 and 2021, 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.
- F3Shares withheld to satisfy tax withholding obligations arising from settlement of restricted stock units.