TRAN KHANH T 4
4 · CIT GROUP INC · Filed May 18, 2021
Insider Transaction Report
Form 4
TRAN KHANH T
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2021-05-15−595.799→ 0 total→ Common Stock (595.799 underlying) - Exercise/Conversion
Common Stock
2021-05-15+595.799→ 9,780.893 total
Footnotes (5)
- [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 stock unit ("RSU") has 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]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.