R. Oates - Jun 1, 2021 Form 4 Insider Report for CIT GROUP INC (CIT)

Role
Director
Signature
/s/ James P. Shanahan, attorney-in-fact for Mr. Oates
Stock symbol
CIT
Transactions as of
Jun 1, 2021
Transactions value $
$0
Form type
4
Date filed
6/3/2021, 07:26 PM
Previous filing
May 18, 2021
Next filing
Jan 5, 2022

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 -9.84K -100% 0 Jun 1, 2021 Common Stock 9.84K Direct F1, F2, F3
transaction CIT Deferred Share Unit Options Exercise +9.84K +196.95% 14.8K Jun 1, 2021 Common Stock 9.84K Direct F2, F3, F4, F5, F6
* 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 Filer elected to receive 100% stock upon settlement.
F3 Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
F4 Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.
F5 Filer elected to defer issuance of stock until he is 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.