Form 4: Ambac Financial Group Executive Stephen Ksenak Reports Stock Transactions

Stephen Michael Ksenak, Sr. MD & General Counsel of Ambac Financial Group, reports the vesting and settlement of restricted stock units and subsequent conversion to deferred share units.

Summary

• On March 8, 2024, Stephen Michael Ksenak, a Senior Managing Director and General Counsel at Ambac Financial Group, reported transactions involving the company's stock.
• Ksenak acquired 218 shares of common stock upon the vesting and settlement of a portion of his 2021 Restricted Stock Unit Long Term Incentive Plan (RSU LTIP) award.
• Simultaneously, 218 shares were withheld by the company to cover tax obligations related to the vesting.
• Additionally, 5,959 RSUs were converted into an equivalent number of deferred share units (DSUs) under the company's Executive Stock Deferral Plan.
• Following these transactions, Ksenak directly owns 111,609 shares of common stock, 20,212 restricted stock units, and 66,477 deferred share units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation adjustments.

Key Dates