Form 4: Director Joan M. Lamm-Tennant Acquires Restricted Stock Units in Ambac Financial Group
SEC Form 4 Filing
Joan M. Lamm-Tennant, a director of Ambac Financial Group, acquired 3,299 restricted stock units on April 1, 2024, which will vest on April 1, 2025.
Summary
- On April 1, 2024, Joan M. Lamm-Tennant, a director of Ambac Financial Group, Inc., acquired 3,299 restricted stock units (RSUs).
- These RSUs represent a contingent right to receive one share of Ambac Financial Group's common stock each.
- The RSUs will vest on April 1, 2025, one year after the grant date.
- Vested RSUs will settle and convert into shares of common stock when Lamm-Tennant resigns or ceases to be a member of the Board of Directors.
- Following this transaction, Lamm-Tennant beneficially owns 82,075 shares of Ambac Financial Group's common stock directly.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding stock ownership, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure of a director's acquisition of restricted stock units, a common form of executive compensation.
Stakeholder Impact
- The acquisition of RSUs by a director may signal confidence in the company's future performance to shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of transaction: Joan M. Lamm-Tennant acquired 3,299 restricted stock units. |
| 04/01/2024 | Date of report. |
| 04/01/2025 | Vesting date of the 3,299 restricted stock units. |
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