According to a SEC filing, CIT Group CEO John A. Thain bought 50,000 shares of CIT stock in a transaction on Thursday, February. The shares were bought at an average cost of $27.31 per share and had a total value of $1,365,500.

Following the purchase, the chief executive officer now owns 486,849 shares of the company’s stock, which are valued at $13,295,846 according to the filing.