MICHAEL A. CARPENTER - 15 May 2021 Form 4 Insider Report for CIT GROUP INC

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CIT	Restricted Stock Units	Options Exercise		-659	-100%		0	15 May 2021	Common Stock	659		Direct	F1, F2, F3, F4, F5, F6
transaction	CIT	Deferred Share Unit	Options Exercise		+659	+7.2%		9,823	15 May 2021	Common Stock	659		Direct	F2, F3, F4, F5, F6, F7, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	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.
F2	Filer elected to defer issuance of stock until no longer a member of the Board.
F3	Filer elected to receive 100% stock upon settlement.
F4	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.
F5	The restricted stock units vested on a Saturday, therefore, the closing price of CIT common stock on the immediately preceding Friday was used for the settlement.
F6	Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
F7	Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
F8	Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.