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

Role
Senior Managing Director
Signature
/s/ William White, attorney in fact
Stock symbol
AMBC
Transactions as of
Feb 28, 2023
Transactions value $
-$34,143
Form type
4
Date filed
3/2/2023, 03:24 PM
Previous filing
Feb 24, 2023
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 +5.72K +6.14% $0.00 99K Feb 28, 2023 Direct F1
transaction AMBC Common Stock Tax liability -$34.1K -2.06K -2.08% $16.55 96.9K 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 -5.72K -18.36% $0.00 25.4K Feb 28, 2023 Common Stock 5.72K 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 2022 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.