CARPENTER MICHAEL A 4
4 · CIT GROUP INC · Filed May 19, 2020
Insider Transaction Report
Form 4
CARPENTER MICHAEL A
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2020-05-15−749.465→ 0 total→ Common Stock (749.465 underlying) - Exercise/Conversion
Restricted Stock Units
2020-05-15−658.514→ 658.513 total→ Common Stock (658.514 underlying) - Exercise/Conversion
Deferred Share Unit
2020-05-15+749.465→ 6,055.334 total→ Common Stock (749.465 underlying) - Exercise/Conversion
Deferred Share Unit
2020-05-15+658.514→ 6,713.848 total→ Common Stock (658.514 underlying) - Exercise/Conversion
Deferred Share Unit
2020-05-15+2,450.5→ 9,164.348 total→ Common Stock (2,450.5 underlying) - Exercise/Conversion
Restricted Stock Units
2020-05-15−2,450.5→ 0 total→ Common Stock (2,450.5 underlying)
Footnotes (9)
- [F1]RSUs are scheduled to vest in three equal installments on May 15, 2018, 2019, and 2020 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.
- [F2]Filer elected to defer issuance of stock until no longer a member of the Board.
- [F3]Filer elected to receive 100% stock upon settlement.
- [F4]The restricted stock units settled 50% in stock and 50% in cash, which was deemed to occur through an acquisition of 100% of the underlying shares of CIT common stock and a simultaneous disposition to the issuer of 50% of the underlying shares of CIT common stock.
- [F5]Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- [F6]Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
- [F7]Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.
- [F8]RSUs are scheduled to vest in three equal installments on May 15, 2019, 2020, and 2021 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.
- [F9]RSUs are scheduled to vest fully on May 15, 2020 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.