David Trick - Mar 8, 2024 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role
Exec VP, CFO & Treasurer
Signature
William J. White, attoney-in-fact
Stock symbol
AMBC
Transactions as of
Mar 8, 2024
Transactions value $
-$4,153
Form type
4
Date filed
3/11/2024, 04:20 PM
Previous filing
Mar 4, 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 +270 +0.18% $0.00 153K Mar 8, 2024 Direct F1
transaction AMBC Common Stock Tax liability -$4.15K -270 -0.18% $15.38 152K Mar 8, 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 -270 -1.07% $0.00 24.9K Mar 8, 2024 Common Stock 270 Direct F3, F4
transaction AMBC Restricted Stock Units Options Exercise $0 -7.35K -29.48% $0.00 17.6K Mar 8, 2024 Common Stock 7.35K Direct F3, F5
transaction AMBC Deferred Share Units Award $0 +7.35K +9.82% $0.00 82.2K Mar 8, 2024 Common Stock 7.35K 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 270 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the vesting and settlement of a portion of the reporting person's 2021 restrictive stock unit Long Term Incentive Plan ("2021 RSU LTIP") award.
F2 As part of the vesting and settlement of a portion of the 2021 RSU LTIP award, 270 shares of common stock were withheld by the Company to satisfy certain tax withholding obligations.
F3 Each restricted stock unit ("RSUs") represents a contingent right to receive one share of the common stock of the Company.
F4 Represents the amount of RSUs that were converted into shares of common stock of the Company upon settlement of a portion of the reporting person's 2021 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.