David Trick - Mar 8, 2023 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Exec VP, CFO & Treasurer
Signature
William White, attorney-in-fact
Stock symbol
AMBC
Transactions as of
Mar 8, 2023
Transactions value $
-$5,711
Form type
4
Date filed
3/9/2023, 03:11 PM
Previous filing
Mar 6, 2023
Next filing
Feb 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +348 +0.23% $0.00 153K Mar 8, 2023 Direct F1
transaction AMBC Common Stock Tax liability -$5.71K -348 -0.23% $16.41 152K Mar 8, 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 -348 -0.78% $0.00 44.4K Mar 8, 2023 Common Stock 348 Direct F1, F3
transaction AMBC Restricted Stock Units Options Exercise $0 -7.27K -16.38% $0.00 37.1K Mar 8, 2023 Common Stock 7.27K Direct F3, F4, F5
transaction AMBC Deferred Share Units Options Exercise $0 +7.27K +120.97% $0.00 13.3K Mar 8, 2023 Common Stock 7.27K Direct F4, F5, F6
* 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 2021 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 of the Company.
F4 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.
F5 Represents the aggregate amount of RSUs that were converted into DSUs of the Company upon settlement of a portion of the reporting person's 2021 Long Term Incentive Plan award.
F6 Each DSU represents a contingent right to receive one share of common stock of the Company.