Edgar Filing: CIT GROUP INC

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â DALY JOHN F

2. Date of Event Requiring Statement (Month/Day/Year)
05/08/2007

3. Issuer Name and Ticker or Trading Symbol
CIT GROUP INC [CIT]

(Last)

(First)

(Middle)

C/O CIT GROUP,Â 11 WEST 42ND STREET

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President, Trade Finance

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

NEW YORK,Â NYÂ 10036

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	13,841	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option (Right to Buy)	Â ⁽¹⁾⁽²⁾	01/17/2014	Common Stock	4,445	$ 56.54	D	Â
Option (Right to Buy)	Â ⁽¹⁾⁽³⁾	07/19/2013	Common Stock	8,000	$ 47.28	D	Â
Option (Right to Buy)	Â ⁽¹⁾⁽⁴⁾	01/18/2013	Common Stock	7,059	$ 51.43	D	Â
Option (Right to Buy)	Â ⁽¹⁾⁽⁵⁾	07/19/2015	Common Stock	25,000	$ 43.01	D	Â
Option (Right to Buy)	Â ⁽¹⁾⁽⁶⁾	01/18/2015	Common Stock	25,000	$ 41.89	D	Â
Option (Right to Buy)	07/21/2007⁽⁷⁾	07/21/2014	Common Stock	33,334	$ 37.6	D	Â
Option (Right to Buy)	01/21/2007⁽⁸⁾	01/21/2014	Common Stock	11,667	$ 39.22	D	Â
Option (Right to Buy) ⁽⁹⁾ ⁽¹¹⁾ ⁽¹²⁾	07/02/2002⁽¹⁰⁾	03/05/2009	Common Stock	8,258	$ 74.4731	D	Â
Option (Right to Buy) ⁽⁹⁾ ⁽¹²⁾ ⁽¹³⁾	07/02/2002⁽¹⁰⁾	11/19/2008	Common Stock	4,542	$ 70.2409	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
DALY JOHN F C/O CIT GROUP 11 WEST 42ND STREET NEW YORK,Â NYÂ 10036	Â	Â	Â President, Trade Finance	Â

Signatures

/s/ James P. Shanahan, attorney-in-fact for Mr. Daly		05/16/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Options vest in increments of 1/3 per year on the anniversary of the grant date for a period of 3 years.
(2)	Options granted 1/17/2007.
(3)	Options granted 7/19/2006.
(4)	Options granted 1/18/2006.
(5)	Options granted 7/19/2005.
(6)	Options granted 1/18/2005.
(7)	Options fully vest on 7/21/2007.
(8)	Options fully vested on 1/21/2007.
(9)	Due to CIT?s IPO, Tyco options were cancelled by Tyco and replaced by CIT on 7//2/2002 with CIT options vesting under the same schedule as the Tyco options. The Tyco to CIT conversion formula is disclosed in CIT Group Inc. Prospectus dated 7/1/02 ?Management ? Treatment of Tyco Options and Tyco Restricted Shares Held by CIT Employees?.
(10)	Options were fully vested on 7/2/2002.
(11)	Options granted by The CIT Group, Inc. on 3/5/1999.
(12)	CIT options converted on 6/1/2001 into options of Tyco International Ltd. at the rate of .6907 Tyco option for 1 CIT option upon Tyco's acquisition of CIT.
(13)	Options granted by The CIT Group, Inc. on 11/19/1998.

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