Sheila A. Stamps - Jun 1, 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
Jun 1, 2021
Transactions value $
-$226,085
Form type
4
Date filed
6/3/2021, 07:36 PM
Previous filing
May 27, 2021
Next filing
Jun 10, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CIT Common Stock Options Exercise +8.48K +94.2% 17.5K Jun 1, 2021 Direct F1, F2
transaction CIT Common Stock Disposed to Issuer -$226K -4.24K -24.25% $53.32 13.2K Jun 1, 2021 Direct F1

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
* 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 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.