Form 4: Ambac Financial Group Executive Reports Stock Transactions
SEC Form 4 Filing
David Barranco, a Senior Managing Director at Ambac Financial Group, reports the conversion and disposal of restricted stock units into common stock to satisfy tax obligations.
Summary
- On March 3, 2024, David Barranco, a Senior Managing Director at Ambac Financial Group, converted 5,215 restricted stock units (RSUs) into common stock as part of the settlement of his 2023 Long Term Incentive Plan award.
- Additionally, 1,880 RSUs were converted into common stock and withheld by the company to cover tax obligations at a price of $16.19 per share.
- Following these transactions, Barranco directly owns 107,327 shares of common stock and 23,155 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine disclosure of insider transactions, required by the SEC to ensure transparency and prevent insider trading. It provides investors with information about the trading activities of company executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related stock movements.
Key Dates
| Date | Description |
|---|---|
| 03/03/2024 | Date of stock transactions: conversion of RSUs to common stock and withholding for tax obligations. |
| 03/04/2024 | Date of signature by attorney-in-fact, William J. White. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.