Form 4: Ambac Financial Group COO Reports Stock Transactions
SEC Form 4 Filing
Daniel McGinnis, Ambac Financial Group's Sr. MD & COO, reports the acquisition and disposal of common stock and derivative securities, including restricted stock units (RSUs) and deferred share units (DSUs).
Summary
- Daniel McGinnis, the Sr. MD & COO of Ambac Financial Group, filed a Form 4 detailing changes in beneficial ownership of the company's securities.
- On February 28, 2025, McGinnis acquired 330 shares of common stock through the vesting of restricted stock units (RSUs).
- Also on February 28, 2025, 330 shares were disposed of to cover tax withholding obligations related to the RSU vesting at a price of $9.71.
- On March 3, 2025, McGinnis acquired 300 shares of common stock through the vesting of restricted stock units (RSUs).
- Also on March 3, 2025, 300 shares were disposed of to cover tax withholding obligations related to the RSU vesting at a price of $9.3.
- The transactions involved the conversion of RSUs and Deferred Share Units (DSUs) into common stock.
- Following these transactions, McGinnis directly owns 8,318 shares of common stock.
- McGinnis also holds 10,642 Restricted Stock Units and 12,410 Deferred Share Units.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, reflecting standard executive compensation practices. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock transactions are a standard practice in publicly traded companies, with filings like Form 4 being a regulatory requirement.
- Companies like Berkshire Hathaway, JP Morgan Chase, and Goldman Sachs also have executives who regularly report their stock transactions via Form 4 filings.
- The frequency and volume of these transactions can vary based on individual compensation structures and company policies.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/28/2025 | Acquisition of 330 shares of common stock through RSU vesting and disposal of 330 shares for tax obligations. |
| 03/03/2025 | Acquisition of 300 shares of common stock through RSU vesting and disposal of 300 shares for tax obligations. |
| 03/04/2025 | Date of signature by attorney-in-fact, William White. |
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