Daniel McGinnis - 29 Sep 2025 Form 4 Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role: Sr. MD & COO
Signature: William J. White, attoney-in-fact
Issuer symbol: AMBC
Transactions as of: 29 Sep 2025
Net transactions value: -$97,715
Form type: 4
Filing time: 01 Oct 2025, 16:49:16 UTC
Previous filing: 09 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
McGinnis Daniel	Sr. MD & COO	AMBAC FINANCIAL GROUP, INC., ONE WORLD TRADE CENTER, 41ST FLOOR, NEW YORK,	William J. White, attoney-in-fact	01 Oct 2025	0001900989

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AMBC	Common Stock	Conversion of derivative security	$0	+29,832	+162%	$0.000000	48,288	29 Sep 2025	Direct	F1
transaction	AMBC	Common Stock	Tax liability	$97,715	-10,053	-21%	$9.72	38,235	29 Sep 2025	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	Deferred Share Units	Conversion of derivative security	$0	-29,832	-100%	$0.000000	0	29 Sep 2025	Common Stock	29,832		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Upon the closing of the sale of Ambac Assurance Corporation by Ambac Financial Group to an entity owned by funds managed by Oaktree Capital Management, L.P., a change of control was triggered causing the Reporting Person's Deferred Share Units ("DSUs") to vest and settle.
F2	Represents the amount of DSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations.
F3	Each DSU represents a contingent right to receive one share of common stock of the Company.