Form 4: Ambac Financial Group Executive VP R. Sharon Smith Reports Stock Transactions

Executive VP and Chief Strategy Officer R. Sharon Smith reports the acquisition and disposal of Ambac Financial Group Inc. common stock and derivative securities due to vesting and tax obligations.

Summary

• R. Sharon Smith, Executive VP & Chief Strategy Officer of Ambac Financial Group Inc., filed a Form 4 on March 11, 2024, reporting changes in beneficial ownership of the company's stock.
• On March 8, 2024, Smith acquired 233 shares of common stock upon the vesting and settlement of a portion of her 2021 Restrictive Stock Unit Long Term Incentive Plan (RSU LTIP) award.
• Also on March 8, 2024, 233 shares of common stock were withheld by the company to satisfy tax withholding obligations related to the vesting of the RSU LTIP award at a price of $15.38.
• Additionally, 6,356 Restricted Stock Units (RSUs) were converted into an equivalent number of Deferred Share Units (DSUs) pursuant to the company's Executive Stock Deferral Plan.
• Following these transactions, Smith directly owns 73,607 shares of common stock, 22,035 Restricted Stock Units, 15,679 Restricted Stock Units, and 71,322 Deferred Share Units.

Sentiment

Score: 5

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

Industry Context

Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and holdings in their own company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by an executive.

Key Dates