David Trick - Feb 21, 2024 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Signature
William J. White, attoney-in-fact
Stock symbol
AMBC
Transactions as of
Feb 21, 2024
Transactions value $
-$34,141
Form type
4
Date filed
2/23/2024, 04:49 PM
Previous filing
Mar 9, 2023
Next filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +2.1K +1.38% $0.00 154K Feb 21, 2024 Direct F1
transaction AMBC Common Stock Tax liability -$34.1K -2.1K -1.36% $16.25 152K Feb 21, 2024 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 Deferred Share Units Award $0 +50.1K +377.12% $0.00 63.4K Feb 21, 2024 Common Stock 50.1K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person acquired 2,101 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the simultaneous vesting and settlement of a protion of the reporting person's 2021 Long Term Incentive Plan award, which had a three year performance period and vested on February 21, 2024.
F2 As part of the vesting and settlement of a portion of the 2021 LTIP award, 2,101 shares of common stock were withheld by the Company to satisfy certain tax withholding obligations.
F3 Each DSU represents a contingent right to receive one share of common stock of the Company.
F4 Represents the aggregate amount of performance stock units ("PSUs") 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 PSU and restricted stock unit awards in accordance with Section 409A of the Internal Revenue Code of 1986, as amended.