Michael Carpenter - Jun 1, 2021 Form 4 Insider Report for CIT GROUP INC (CIT)

Role: Director
Signature: /s/ James P. Shanahan, attorney-in-fact for Mr. Carpenter
Stock symbol: CIT
Transactions as of: Jun 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/3/2021, 07:07 PM
Previous filing: May 18, 2021
Next filing: Jun 17, 2021
SEC: View on sec.gov

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		-8.48K	-100%		0	Jun 1, 2021	Common Stock	8.48K		Direct	F1, F2, F3, F4
transaction	CIT	Deferred Share Unit	Options Exercise		+8.48K	+86.33%		18.3K	Jun 1, 2021	Common Stock	8.48K		Direct	F2, F3, F4, F5, F6

Showing 1 to 2 of 2 entries

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

Explanation of Responses:

Id	Content
F1	RSUs are scheduled to vest 100% on June 1, 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 date of settlement.
F2	Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
F3	Filer elected to receive 100% stock upon settlement.
F4	Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
F5	Filer elected to defer issuance of stock until no longer a member of the Board.
F6	Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.