Laura S. Unger - Jun 1, 2021 Form 4 Insider Report for CIT GROUP INC (CIT)

Role: Director
Signature: /s/ James P. Shanahan, attorney-in-fact for Ms. Unger
Stock symbol: CIT
Transactions as of: Jun 1, 2021
Transactions value $: -$226,085
Form type: 4
Date filed: 6/3/2021, 07:42 PM
Previous filing: May 18, 2021
Next filing: Jan 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIT	Common Stock	Options Exercise		+8.48K	+72.59%		20.2K	Jun 1, 2021	Direct	F1, F2
transaction	CIT	Common Stock	Disposed to Issuer	-$226K	-4.24K	-21.03%	$53.32	15.9K	Jun 1, 2021	Direct	F1
holding	CIT	Common Stock						10K	Jun 1, 2021	Held by spouse

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.