Form 4: Ambac Financial Group Executive Barranco Reports Stock Transactions
SEC Form 4 Filing
David Barranco, a Senior Managing Director at Ambac Financial Group, reported the conversion of restricted stock units into common stock and shares withheld for tax obligations on March 8, 2024.
Summary
- On March 8, 2024, David Barranco, a Senior Managing Director at Ambac Financial Group, converted 7,001 restricted stock units (RSUs) into common stock.
- These RSUs were part of the 2021 Long Term Incentive Plan award.
- Additionally, 2,523 shares were withheld by the company to cover tax obligations related to the RSU conversion at a price of $15.38.
- Following these transactions, Barranco directly owns 111,805 shares of Ambac Financial Group common stock and 16,154 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency into the trading activities of company executives. It's a standard practice required by the SEC to prevent insider trading and maintain market fairness.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares, but the effect is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 03/08/2024 | Date of the stock transactions (conversion of RSUs and tax withholding). |
| 03/11/2024 | Date of signature by attorney-in-fact. |
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