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

Role
Exec VP & Chief Strategy Offr
Signature
William J. White, attoney-in-fact
Stock symbol
AMBC
Transactions as of
Feb 28, 2024
Transactions value $
-$3,320
Form type
4
Date filed
3/1/2024, 04:04 PM
Previous filing
Feb 23, 2024
Next filing
Mar 4, 2024

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% $0.00 73.8K Feb 28, 2024 Direct F1
transaction AMBC Common Stock Tax liability -$3.32K -196 -0.27% $16.94 73.6K Feb 28, 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% $0.00 32.7K Feb 28, 2024 Common Stock 196 Direct F3, F4
transaction AMBC Restricted Stock Units Options Exercise $0 -5.36K -16.39% $0.00 27.3K Feb 28, 2024 Common Stock 5.36K Direct F3, F5
transaction AMBC Deferred Share Units Award $0 +5.36K +9.79% $0.00 60.1K Feb 28, 2024 Common Stock 5.36K 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.