ROSENFELD GERALD 4
4 · CIT GROUP INC · Filed May 18, 2021
Insider Transaction Report
Form 4
ROSENFELD GERALD
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2021-05-15−689.871→ 0 total→ Common Stock (689.871 underlying) - Exercise/Conversion
Deferred Share Unit
2021-05-15+689.871→ 23,482.694 total→ Common Stock (689.871 underlying)
Footnotes (9)
- [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]Filer elected to defer issuance of stock until he is no longer a member of the Board.
- [F9]Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.