Form 4: Ambac Financial Group Executive Daniel McGinnis Reports Stock Transactions

Daniel McGinnis, a Senior Managing Director & COO at Ambac Financial Group, reports the vesting and settlement of restricted stock units and subsequent transactions involving common stock.

Summary

• On March 3, 2024, Daniel McGinnis, a Senior Managing Director & COO of Ambac Financial Group, reported transactions involving the company's common stock.
• These transactions include the vesting and settlement of a portion of his 2023 Restricted Stock Unit Long Term Incentive Plan (RSU LTIP) award, resulting in the acquisition of 92 shares.
• Additionally, 92 shares were withheld by the company to cover tax obligations related to the vesting of the RSU LTIP award at a price of $16.19.
• McGinnis also converted 2,515 RSUs into an equivalent number of deferred share units (DSUs) under the company's Executive Stock Deferral Plan.
• Following these transactions, McGinnis directly owns 8,318 shares of common stock, 10,592 restricted stock units, 8,077 restricted stock units, and 7,571 deferred share units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report of events.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is standard practice for publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the executive's holdings, but the overall effect is likely negligible.

Key Dates