4//SEC Filing
UNGER LAURA S 4
Accession 0001127602-22-001008
CIK 0001171825other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 6:35 PM ET
Size
12.5 KB
Accession
0001127602-22-001008
Insider Transaction Report
Form 4
UNGER LAURA S
Director
Transactions
- Disposition to Issuer
Restricted Stock Units
2022-01-03−2,457.244→ 0 total→ Common Stock (2,457.244 underlying) - Disposition to Issuer
Common Stock
2022-01-03−10,000→ 0 total(indirect: By Spouse) - Disposition to Issuer
Common Stock
2022-01-03−15,922.646→ 0 total - Disposition to Issuer
Deferred Share Unit
2022-01-03−16,789.615→ 0 total→ Common Stock (16,789.615 underlying)
Footnotes (6)
- [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]Pursuant to Merger Agreement, shares of CIT Common Stock held by Ms. Unger's spouse were converted into 620 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
- [F3]For Ms. Unger, pursuant to the Merger Agreement, a transaction exempt under Rule 16b-3, (1) 1,228.622 unvested restricted stock units in respect of shares of CIT Common Stock ("CIT RSUs") (not subject to deferral) automatically vested upon the effective time and were converted into 77 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash, and (2) CIT RSUs representing the right to receive the value of 1,228.622 shares of CIT Common Stock in cash were settled in cash following the merger.
- [F4]Each CIT RSU had the economic equivalent of one share of CIT Common Stock.
- [F5]Ms. Unger previously elected to defer issuance of Common Stock until she 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 1,040 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
- [F6]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 0001175992
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 6:35 PM ET
- Size
- 12.5 KB