4//SEC Filing
CARPENTER MICHAEL A 4
Accession 0001127602-21-017227
CIK 0001171825other
Filed
May 17, 8:00 PM ET
Accepted
May 18, 5:16 PM ET
Size
8.6 KB
Accession
0001127602-21-017227
Insider Transaction Report
Form 4
CARPENTER MICHAEL A
Director
Transactions
- Exercise/Conversion
Deferred Share Unit
2021-05-15+658.513→ 9,822.861 total→ Common Stock (658.513 underlying) - Exercise/Conversion
Restricted Stock Units
2021-05-15−658.513→ 0 total→ Common Stock (658.513 underlying)
Footnotes (8)
- [F1]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.
- [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]The 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.
- [F6]Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- [F7]Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
- [F8]Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001225174
Filing Metadata
- Form type
- 4
- Filed
- May 17, 8:00 PM ET
- Accepted
- May 18, 5:16 PM ET
- Size
- 8.6 KB