Jeffrey S. Stein - Oct 2, 2023 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Director
Signature
William J. White, attorney in fact
Stock symbol
AMBC
Transactions as of
Oct 2, 2023
Transactions value $
$0
Form type
4
Date filed
10/2/2023, 07:22 PM
Previous filing
Jul 5, 2023
Next filing
Jan 2, 2024

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 Award $0 +3.93K +2.97% $0.00 136K Oct 2, 2023 Common Stock 3.93K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock of Ambac Financial Group, Inc. (the "Company").
F2 RSU's granted on October 2, 2023 shall vest one year later on October 2, 2024. RSUs that have become vested shall settle and convert into shares of common stock upon the date that the reporting person resigns from, or otherwise ceases to be a member of, the Board of Directors of the Company.