4//SEC Filing
Frank Alan L 4
Accession 0001127602-20-017222
CIK 0001171825other
Filed
May 18, 8:00 PM ET
Accepted
May 19, 5:05 PM ET
Size
16.4 KB
Accession
0001127602-20-017222
Insider Transaction Report
Form 4
Frank Alan L
Director
Transactions
- Exercise/Conversion
Common Stock
2020-05-15+2,744.56→ 30,699.636 total - Exercise/Conversion
Restricted Stock Units
2020-05-15−752.587→ 752.588 total→ Common Stock (752.587 underlying) - Exercise/Conversion
Common Stock
2020-05-15+752.587→ 27,955.076 total - Exercise/Conversion
Restricted Stock Units
2020-05-15−856.531→ 0.001 total→ Common Stock (856.531 underlying) - Exercise/Conversion
Common Stock
2020-05-15+856.531→ 27,202.489 total - Exercise/Conversion
Restricted Stock Units
2020-05-15−2,744.56→ 0 total→ Common Stock (2,744.56 underlying)
Holdings
- 9,097(indirect: By Trust)
Common Stock
Footnotes (7)
- [F1]Filer elected to receive 100% stock upon settlement.
- [F2]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.
- [F3]Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- [F4]Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), the Reporting Person may be deemed to be the beneficial owner of the securities reported herein only to the extent of his pecuniary interest therein. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.
- [F5]RSUs are scheduled to vest in three equal installments on May 15, 2018, 2019, and 2020 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 vesting date.
- [F6]RSUs are scheduled to vest in three equal installments on May 15, 2019, 2020, and 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 vesting date.
- [F7]RSUs are scheduled to vest fully on May 15, 2020 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 vesting date.
Documents
Issuer
CIT GROUP INC
CIK 0001171825
Entity typeother
Related Parties
1- filerCIK 0001649471
Filing Metadata
- Form type
- 4
- Filed
- May 18, 8:00 PM ET
- Accepted
- May 19, 5:05 PM ET
- Size
- 16.4 KB