FREEMAN WILLIAM M 4
4 · CIT GROUP INC · Filed Jun 3, 2021
Insider Transaction Report
Form 4
FREEMAN WILLIAM M
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2021-06-01−8,480.326→ 0 total→ Common Stock (8,480.326 underlying) - Exercise/Conversion
Common Stock
2021-06-01+8,480.326→ 22,167.337 total - Disposition to Issuer
Common Stock
2021-06-01$53.32/sh−4,240.163$226,085→ 17,927.174 total
Footnotes (3)
- [F1]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.
- [F2]Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- [F3]RSUs are scheduled to vest 100% on June 1, 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 date of settlement.