4//SEC Filing
TRAN KHANH T 4
Accession 0001127602-22-001006
CIK 0001171825other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 6:32 PM ET
Size
10.8 KB
Accession
0001127602-22-001006
Insider Transaction Report
Form 4
TRAN KHANH T
Director
Transactions
- Disposition to Issuer
Restricted Stock Units
2022-01-03−3,145.273→ 0 total→ Common Stock (3,145.273 underlying) - Disposition to Issuer
Restricted Stock Units
2022-01-03−909.459→ 0 total→ Common Stock (909.459 underlying) - Disposition to Issuer
Common Stock
2022-01-03−13,681.843→ 0 total
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. Khanh Tran, pursuant to the Merger Agreement, a transaction exempt under Rule 16b-3, the unvested restrict stock units in respect of shares of CIT Common Stock (the "CIT RSU's) (not subject to deferral) automatically vested upon the effective time and were converted into 54 shares of BansShares Class A Common Stock as multiplied by the Exchange Ration less fractional shares paid in cash, and CIT RSU's that he deferred issuance of Common Stock until he was no longer a member of the Board (the "CIT DSUs") automatically vested upon the effective time and were converted into 141 shares of BancShares Class A Common Stock as multiplied by the Exchange Ration less fractional shares paid in cash.
- [F3]Each CIT DSU had the economic equivalent of one share of CIT Common Stock.
- [F4]Each CIT RSU had the economic equivalent of one share of CIT Common Stock.
- [F5]For Mr. Tran, 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 56 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001164774
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 6:32 PM ET
- Size
- 10.8 KB