4//SEC Filing
CARPENTER MICHAEL A 4
Accession 0001127602-22-000985
CIK 0001171825other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 6:02 PM ET
Size
10.6 KB
Accession
0001127602-22-000985
Insider Transaction Report
Form 4
CARPENTER MICHAEL A
Director
Transactions
- Disposition to Issuer
Common Stock
2022-01-03−14,983.475→ 0 total - Disposition to Issuer
Restricted Stock Units
2022-01-03−2,457.244→ 0 total→ Common Stock (2,457.244 underlying) - Disposition to Issuer
Deferred Share Unit
2022-01-03−18,303.187→ 0 total→ Common Stock (18,303.187 underlying)
Footnotes (5)
- [F1]Pursuant to the Agreement and Plan of Merger, dated October 15, 2020, by and among CIT Group Inc. ("CIT"), First Citizens BancShares, Inc. ("BancShares"), First-Citizens Bank & Trust Company, and FC Merger Subsidiary IX, Inc. (as amended from time to time, the "Merger Agreement"), a transaction exempt under Rule 16b-3, each issued and outstanding share of common stock, par value $0.01 per share, of CIT ("CIT Common Stock") was converted into 0.06200 (the "Exchange Ratio") shares of Class A common stock, par value $1.00 per share, of BancShares (the "BancShares Class A Common Stock"). On December 31, 2021 (the business day prior to the merger), the closing price of one share of CIT Common Stock was $51.34.
- [F2]For Mr. Carpenter, pursuant to the Merger Agreement, a transaction exempt under Rule 16b-3, the unvested restricted stock units in respect of shares of CIT Common Stock (the " CIT RSUs") (not subject to deferral) automatically vested upon the effective time and were converted into 152 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
- [F3]Each CIT RSU had the economic equivalent of one share of CIT Common Stock.
- [F4]Mr. Carpenter previously elected to defer issuance of CIT Common Stock until he was no longer a member of the Board. Pursuant to Merger Agreement, the deferred share units in respect of CIT Common Stock (the "CIT DSUs") automatically vested upon the effective time and were converted into 1,134 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
- [F5]Each CIT DSU had the economic equivalent of one share of CIT Common Stock.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001225174
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 6:02 PM ET
- Size
- 10.6 KB