4//SEC Filing
PROIA GINA M. 4
Accession 0001127602-22-001016
CIK 0001171825other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 6:49 PM ET
Size
10.8 KB
Accession
0001127602-22-001016
Insider Transaction Report
Form 4
PROIA GINA M.
EVP & Head of Marketing
Transactions
- Award
Common Stock
2022-01-03+3,958.045→ 3,958.045 total - Disposition to Issuer
Common Stock
2022-01-03−3,958.045→ 0 total - Disposition to Issuer
Common Stock
2022-01-03−14,036.826→ 13,310.641 total - Disposition to Issuer
Common Stock
2022-01-03−13,310.641→ 0 total
Footnotes (5)
- [F1]For Ms. Proia, pursuant to the Merger Agreement, performance share unit awards in respect of shares of CIT Common Stock (the "CIT PSUs") were converted into 246 restricted stock units in respect of shares of BancShares Class A Common Stock, equal to the number of shares subject to the CIT PSUs determined based on target level performance as of immediately prior to the effective time multiplied by the Exchange Ratio, with the result rounded up to the nearest whole share.
- [F2]Each CIT PSU had the economic equivalent of one share of CIT Common Stock.
- [F3]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.
- [F4]For Ms. Proia, pursuant to the Merger Agreement, the unvested restricted stock units in respect of shares of CIT Common Stock (the "CIT RSUs") were converted into 826 restricted stock units in respect of shares of BancShares Class A Common Stock, equal to the number of shares subject to the CIT RSUs as of immediately prior to the effective time multiplied by the Exchange Ratio, with the result rounded up to the nearest whole share
- [F5]Each CIT RSU had the economic equivalent of one share of CIT Common Stock.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001692392
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 6:49 PM ET
- Size
- 10.8 KB