Form 4: Assured Guaranty Director Reports Stock Transactions

Director Courtney C. Shea reports acquisition and disposal of Assured Guaranty Ltd. shares related to tax obligations and a restricted stock award.

Summary

• On May 1, 2024, Director Courtney C. Shea disposed of 606 common shares of Assured Guaranty Ltd. to cover tax liabilities at a price of $77.05 per share.
• Following this transaction, Shea directly owned 6,300 common shares.
• On May 2, 2024, Shea acquired 1,725 common shares as a restricted stock award with a value of $0.
• These shares were awarded as an annual retainer equity award under the 2024 Long Term Incentive Plan and will become non-forfeitable just before the 2025 annual shareholders meeting.
• After this acquisition, Shea directly owns 8,025 common shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and related to compensation and tax obligations, indicating standard corporate governance practices. The equity award suggests confidence in the company's future performance.

Positives

• The granting of restricted stock units to non-management directors aligns their interests with those of shareholders.
• The Long Term Incentive Plan encourages long-term value creation.

Future Outlook

The restricted stock units will become non-forfeitable on the day immediately prior to the 2025 annual shareholders meeting.

Industry Context

Directors' stock transactions are routinely monitored as they can provide insights into their confidence in the company's prospects. Equity awards are a common component of director compensation packages in the financial services industry.

Comparison to Industry Standards

• Director compensation packages, including equity awards, are common practice among publicly traded companies, including competitors like MBIA and Radian Group.
• The vesting schedule of the restricted stock units, becoming non-forfeitable just before the next annual meeting, is a typical structure to ensure continued service and alignment with shareholder interests.

Corporate Governance

Stakeholder Impact

• Shareholders may view the equity award positively as it aligns director interests with long-term company performance.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The restricted stock units will vest prior to the 2025 annual shareholders meeting.

Key Dates