Claude LeBlanc - Feb 28, 0024 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Chief Executive Officer, Director
Signature
William J. White, attoney-in-fact
Stock symbol
AMBC
Transactions as of
Feb 28, 0024
Transactions value $
-$16,517
Form type
4
Date filed
3/1/2024, 04:06 PM
Next filing
Nov 12, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +975 +0.19% $0.00 503K Feb 28, 2024 Direct F1
transaction AMBC Common Stock Tax liability -$16.5K -975 -0.19% $16.94 502K 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 -975 -0.64% $0.00 152K Feb 28, 0024 Common Stock 975 Direct F3, F4
transaction AMBC Restricted Stock Units Options Exercise $0 -24.8K -16.25% $0.00 128K Feb 28, 2024 Common Stock 24.8K Direct F3, F5
transaction AMBC Deferred Share Units Award $0 +24.8K +9.46% $0.00 287K Feb 28, 2024 Common Stock 24.8K 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 975 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, 975 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.