4//SEC Filing
Frank Alan L 4
Accession 0001127602-21-017237
CIK 0001171825other
Filed
May 17, 8:00 PM ET
Accepted
May 18, 5:33 PM ET
Size
8.9 KB
Accession
0001127602-21-017237
Insider Transaction Report
Form 4
Frank Alan L
Director
Transactions
- Exercise/Conversion
Common Stock
2021-05-15+752.588→ 31,452.224 total - Exercise/Conversion
Restricted Stock Units
2021-05-15−752.588→ 0 total→ Common Stock (752.588 underlying)
Holdings
- 9,097(indirect: By Trust)
Common Stock
Footnotes (6)
- [F1]Filer elected to receive 100% stock upon settlement.
- [F2]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.
- [F3]Each Restricted Cash Unit is the economic equivalent of one share of CIT common stock.
- [F4]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.
- [F5]Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), the Reporting Person may be deemed to be the beneficial owner of the securities reported herein only to the extent of his pecuniary interest therein. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.
- [F6]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.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001649471
Filing Metadata
- Form type
- 4
- Filed
- May 17, 8:00 PM ET
- Accepted
- May 18, 5:33 PM ET
- Size
- 8.9 KB