Michael L. Brosnan - 15 May 2021 Form 4 Insider Report for CIT GROUP INC

Role: Director
Signature: /s/ James P. Shanahan, attorney-in-fact for Mr. Brosnan
Issuer symbol: N/A
Transactions as of: 15 May 2021
Net transactions value: $0
Form type: 4
Filing time: 18 May 2021, 17:18:41 UTC
Previous filing: 13 May 2021
Next filing: 03 Jun 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIT	Common Stock	Options Exercise		+659	+4.7%		14,542	15 May 2021	Direct	F1, F2, F3, F4

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

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

Explanation of Responses:

Id	Content
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	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.
F5	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.