Sheila A. Stamps - May 15, 2021 Form 4 Insider Report for CIT GROUP INC (CIT)

Role: Director
Signature: /s/ James P. Shanahan, attorney-in-fact for Ms. Stamps
Stock symbol: CIT
Transactions as of: May 15, 2021
Transactions value $: -$17,645
Form type: 4
Date filed: 5/18/2021, 05:41 PM
Previous filing: May 13, 2021
Next filing: May 27, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIT	Common Stock	Options Exercise		+659	+7.59%		9.33K	May 15, 2021	Direct	F1, F2
transaction	CIT	Common Stock	Disposed to Issuer	-$17.6K	-329	-3.53%	$53.59	9K	May 15, 2021	Direct	F1, F3

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	May 15, 2021	Common Stock	659		Direct	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	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.
F2	Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
F3	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.
F4	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.