Daniel McGinnis - Feb 28, 2023 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Sr. MD & COO
Signature
William White, attorney in fact
Stock symbol
AMBC
Transactions as of
Feb 28, 2023
Transactions value $
-$47,846
Form type
4
Date filed
3/2/2023, 03:20 PM
Previous filing
Mar 2, 2022
Next filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +6.74K $0.00 6.74K Feb 28, 2023 Direct F1
transaction AMBC Common Stock Tax liability -$42.4K -2.56K -38.03% $16.55 4.17K Feb 28, 2023 Direct F2
transaction AMBC Common Stock Options Exercise $0 +330 +7.91% $0.00 4.5K Feb 28, 2023 Direct F3
transaction AMBC Common Stock Tax liability -$5.46K -330 -7.33% $16.55 4.17K Feb 28, 2023 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 -6.74K -30.54% $0.00 15.3K Feb 28, 2023 Common Stock 6.74K Direct F1, F4
transaction AMBC Restricted Stock Units Award $0 -330 -2.15% $0.00 15K Feb 28, 2023 Common Stock 330 Direct F3, F4
transaction AMBC Restricted Stock Units Award $0 -2.53K -16.89% $0.00 12.5K Feb 28, 2023 Common Stock 2.53K Direct F4, F5, F6
transaction AMBC Deferred Share Units Award $0 +2.53K $0.00 2.53K Feb 28, 2023 Common Stock 2.53K Direct F5, F6, F7
* 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 2022 sign-on bonus.
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 Represents the aggregate amount of RSUs that were converted into shares of common stock of the Company upon settlement of a portion of the reporting person's 2022 Long Term Incentive Plan award.
F4 Each RSU represents a contingent right to receive one share of Ambac Financial Group, Inc. (the "Company") common stock.
F5 Represents the aggregate amount of RSUs that were converted into an equivalent number of Deferred Share Units ("DSUs") pursuant to the Company's Executive Stock Deferral Plan, which was designed to enable participants to elect to defer the settlement and income taxation of RSU and Performance Stock Unit awards in accordance with Section 409A of the Internal Revenue Code of 1986, as amended.
F6 Represents the aggregate amount of RSUs that were converted into DSUs of the Company upon settlement of a portion of the reporting person's 2022 Long Term Incentive Plan award.
F7 Each DSU represents a contingent right to receive one share of common stock of the Company.