Daniel McGinnis - Mar 3, 2024 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Sr. MD & COO
Signature
William J. White, attoney-in-fact
Stock symbol
AMBC
Transactions as of
Mar 3, 2024
Transactions value $
-$1,489
Form type
4
Date filed
3/4/2024, 04:39 PM
Previous filing
Mar 1, 2024
Next filing
Mar 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AMBC Common Stock Options Exercise $0 +92 +1.11% $0.00 8.41K Mar 3, 2024 Direct F1
transaction AMBC Common Stock Tax liability -$1.49K -92 -1.09% $16.19 8.32K Mar 3, 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 -92 -0.86% $0.00 10.6K Mar 3, 2024 Common Stock 92 Direct F3, F4
transaction AMBC Restricted Stock Units Options Exercise $0 -2.52K -23.74% $0.00 8.08K Mar 3, 2024 Common Stock 2.52K Direct F3, F5
transaction AMBC Deferred Share Units Award $0 +2.52K +49.74% $0.00 7.57K Mar 3, 2024 Common Stock 2.52K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person acquired 92 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the vesting and settlement of a portion of the reporting person's 2023 restrictive stock unit Long Term Incentive Plan ("2023 RSU LTIP") award.
F2 As part of the vesting and settlement of a portion of the 2023 RSU LTIP award, 92 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 common stock of Ambac Financial Group, Inc.
F4 Represents the amount of RSUs that were converted into shares of common stock of the Company upon the vesting and settlement of a portion of the reporting person's 2023 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.