Form 4: Ambac Financial Group CEO LeBlanc Reports Changes in Beneficial Ownership

CEO Claude LeBlanc reports changes in beneficial ownership of Ambac Financial Group stock due to vesting and settlement of restricted stock units and deferral into share units.

Summary

• On March 8, 2024, Claude LeBlanc, CEO of Ambac Financial Group, reported changes in his beneficial ownership of the company's stock.
• These changes involve the vesting and settlement of a portion of his 2021 Restricted Stock Unit Long Term Incentive Plan (RSU LTIP) award, resulting in the acquisition of 1,193 shares.
• Additionally, 1,193 shares were withheld to cover tax obligations related to the RSU settlement.
• A total of 30,313 RSUs were converted into an equivalent number of deferred share units (DSUs) under the company's Executive Stock Deferral Plan.
• Following these transactions, LeBlanc directly owns 502,416 shares of common stock, 103,009 RSUs, and 339,557 DSUs.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in beneficial ownership, which carries a neutral sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The changes in ownership may have a minor impact on shareholders, reflecting executive compensation and alignment with company performance.

Key Dates