Key facts
- This page summarizes Michael A. Carpenter's Form 4 filing for CIT GROUP INC.
- 3 reported transactions and 2 derivative rows are listed below.
- Accepted by SEC: 05 Jan 2022, 17:02.
Michael A. Carpenter - 03 Jan 2022 Form 4 Insider Report for CIT GROUP INC
- Reporting relationship
- Director
- Issuer ticker
- N/A
- Reported as of
- 03 Jan 2022
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 05 Jan 2022, 17:02:16 UTC
- Prior SEC filing
- 17 Jun 2021
- Next SEC filing
- 17 Jun 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ James P. Shanahan, attorney-in-fact for Mr. Carpenter
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Michael A. Carpenter filed Form 4 for CIT GROUP INC on 05 Jan 2022.
Change
- Previous filing in this sequence was filed on 17 Jun 2021.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
CIT
transaction
Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -14,983
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 Jan 2022
- Ownership
- Direct
- Footnotes
- F1
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
CIT
transaction
Derivative
Restricted Stock Units
Disposed to Issuer
- Transaction value
- Shares
- -2,457
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 Jan 2022
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 2,457
- Exercise price
- Footnotes
- F2, F3
CIT
transaction
Derivative
Deferred Share Unit
Disposed to Issuer
- Transaction value
- Shares
- -18,303
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 03 Jan 2022
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 18,303
- Exercise price
- Footnotes
- F4, F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Michael A. Carpenter is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 5 footnotes
Footnote F1
Pursuant to the Agreement and Plan of Merger, dated October 15, 2020, by and among CIT Group Inc. ("CIT"), First Citizens BancShares, Inc. ("BancShares"), First-Citizens Bank & Trust Company, and FC Merger Subsidiary IX, Inc. (as amended from time to time, the "Merger Agreement"), a transaction exempt under Rule 16b-3, each issued and outstanding share of common stock, par value $0.01 per share, of CIT ("CIT Common Stock") was converted into 0.06200 (the "Exchange Ratio") shares of Class A common stock, par value $1.00 per share, of BancShares (the "BancShares Class A Common Stock"). On December 31, 2021 (the business day prior to the merger), the closing price of one share of CIT Common Stock was $51.34.
Footnote F2
For Mr. Carpenter, pursuant to the Merger Agreement, a transaction exempt under Rule 16b-3, the unvested restricted stock units in respect of shares of CIT Common Stock (the " CIT RSUs") (not subject to deferral) automatically vested upon the effective time and were converted into 152 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
Footnote F3
Each CIT RSU had the economic equivalent of one share of CIT Common Stock.
Footnote F4
Mr. Carpenter previously elected to defer issuance of CIT Common Stock until he was no longer a member of the Board. Pursuant to Merger Agreement, the deferred share units in respect of CIT Common Stock (the "CIT DSUs") automatically vested upon the effective time and were converted into 1,134 shares of BancShares Class A Common Stock as multiplied by the Exchange Ratio less fractional shares paid in cash.
Footnote F5
Each CIT DSU had the economic equivalent of one share of CIT Common Stock.