R. Sharon Smith - Jan 2, 2022 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Senior Managing Director
Signature
William J. White, attorney-in-fact
Stock symbol
AMBC
Transactions as of
Jan 2, 2022
Transactions value $
-$43,351
Form type
4
Date filed
1/4/2022, 03:08 PM
Next filing
Feb 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +4.75K +11.73% $0.00 45.3K Jan 2, 2022 Direct F1
transaction AMBC Common Stock Tax liability -$43.4K -2.7K -5.97% $16.05 42.6K Jan 2, 2022 Direct F2

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 AMBC Restricted Stock Units Options Exercise $0 -4.75K -17.55% $0.00 22.3K Jan 2, 2022 Common Stock 4.75K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the aggregate amount of restricted stock units ("RSUs") that were converted into shares of common stock of Ambac Financial Group, Inc. (the "Company") upon settlement of a portion of the reporting person's 2019 and 2020 Long Term Incentive Plan award.
F2 Represents the aggregate amount of RSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations.
F3 Each RSU represents a contingent right to receive one share of the common stock the Company.