R. Sharon Smith - 28 Feb 2024 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Exec VP & Chief Strategy Offr
Signature
William J. White, attoney-in-fact
Issuer symbol
AMBC
Transactions as of
28 Feb 2024
Net transactions value
-$3,320
Form type
4
Filing time
01 Mar 2024, 16:04:29 UTC
Previous filing
23 Feb 2024
Next filing
04 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +196 +0.27% $0.000000 73,803 28 Feb 2024 Direct F1
transaction AMBC Common Stock Tax liability $3,320 -196 -0.27% $16.94 73,607 28 Feb 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 Restricted Stock Units Options Exercise $0 -196 -0.6% $0.000000 32,688 28 Feb 2024 Common Stock 196 Direct F3, F4
transaction AMBC Restricted Stock Units Options Exercise $0 -5,359 -16% $0.000000 27,329 28 Feb 2024 Common Stock 5,359 Direct F3, F5
transaction AMBC Deferred Share Units Award $0 +5,359 +9.8% $0.000000 60,084 28 Feb 2024 Common Stock 5,359 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person acquired 196 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the vesting and settlement of a portion of the reporting person's 2022 restricted stock unit Long Term Incentive Plan ("2022 RSU LTIP") award.
F2 As part of the vesting and settlement of a portion of the 2022 RSU LTIP award, 196 shares of common stock were withheld by the Company to satisfy certain tax withholding obligations.
F3 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock.
F4 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 RSU LTIP award.
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 Each DSU represents a contingent right to receive one share of common stock of the Company.