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 of restricted stock units into common stock and shares withheld for tax obligations.
Summary
- On February 28, 2024, David Barranco, a Senior Managing Director at Ambac Financial Group, converted 5,723 restricted stock units (RSUs) into shares of common stock.
- These RSUs were part of the 2022 Long Term Incentive Plan award.
- Additionally, 2,063 shares were withheld by the company to cover tax obligations related to the RSU conversion at a price of $16.94.
- Following these transactions, Barranco directly owns 103,992 shares of Ambac Financial Group common stock and 28,370 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which is important for maintaining market confidence and regulatory compliance.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- It assures stakeholders that insider transactions are being monitored and reported in compliance with regulations.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of stock transaction: conversion of RSUs to common stock and tax withholding. |
| 03/01/2024 | Date of signature by attorney-in-fact, William J. White. |
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