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 | May 15, 2021 | Common Stock | 659 | Direct | F1, F2, F3, F4, F5, F6 | |||
transaction | CIT | Deferred Share Unit | Options Exercise | +659 | +7.19% | 9.82K | May 15, 2021 | Common Stock | 659 | Direct | F2, F3, F4, F5, F6, F7, F8 |
Id | Content |
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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. |