0000874501-18-000076.txt : 20180518
0000874501-18-000076.hdr.sgml : 20180518
20180518160929
ACCESSION NUMBER: 0000874501-18-000076
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180516
FILED AS OF DATE: 20180518
DATE AS OF CHANGE: 20180518
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Smith R Sharon
CENTRAL INDEX KEY: 0001707461
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-10777
FILM NUMBER: 18846721
MAIL ADDRESS:
STREET 1: ONE STATE STREET PLAZA
CITY: NEW YORK
STATE: NY
ZIP: 10004
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: AMBAC FINANCIAL GROUP INC
CENTRAL INDEX KEY: 0000874501
STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351]
IRS NUMBER: 133621676
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE STATE ST PLZ
CITY: NEW YORK
STATE: NY
ZIP: 10004
BUSINESS PHONE: 2126680340
MAIL ADDRESS:
STREET 1: ONE STATE ST PLZ
CITY: NEW YORK
STATE: NY
ZIP: 10004
FORMER COMPANY:
FORMER CONFORMED NAME: AMBAC INC /DE/
DATE OF NAME CHANGE: 19930328
4
1
wf-form4_152667411220421.xml
FORM 4
X0306
4
2018-05-16
0
0000874501
AMBAC FINANCIAL GROUP INC
AMBC
0001707461
Smith R Sharon
AMBAC FIANCIAL GROUP, INC.
ONE STATE STREET PLAZA
NEW YORK
NY
10004
0
1
0
0
Senior Managing Director
Common Stock
2018-05-16
4
M
0
332
0
A
332
D
Common Stock
2018-05-16
4
F
0
332
19.14
D
0
D
Restricted Stock Units
2018-05-16
4
A
0
7837
0
A
Common Stock
7837.0
14464
D
Restricted Stock Units
2018-05-16
4
M
0
332
0
D
Common Stock
332.0
14132
D
On May 16, 2018, the Grant Date, 332 restricted stock units ("RSUs") vested, and were settled and converted into shares of common stock and withheld by Ambac Financial Group, Inc. (the "Company") to satisfy certain tax withholding obligations.
Each RSU represents a contingent right to receive one share of common stock of the Company.
On May 16, 2018, there were 7,837 RSUs granted in recognition of the reporting person's efforts to bring about the successful exit of the Segregated Account of Ambac Assurance Corporation from Rehabilitation. The RSUs shall vest immediately and shall settle and convert into shares of common stock as follows: 50% of the RSUs shall settle and convert into shares of common stock on May 16, 2019, and the remaining 50% of the RSUs shall settle and convert into shares of common stock on May 16, 2020; provided however, that if the reporting person's employment with the Company is terminated for any reason (other than termination for cause), all of the RSUs will settle and convert into shares of common stock immediately. Notwithstanding the foregoing, a number of vested RSUs sufficient to satisfy certain tax withholding obligations imposed upon the Company may be converted into shares of common stock and withheld by the Company to satisfy such tax withholding obligations.
William J. White, attorney-in-fact
2018-05-18