0000874501-19-000027.txt : 20190305 0000874501-19-000027.hdr.sgml : 20190305 20190305201755 ACCESSION NUMBER: 0000874501-19-000027 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190304 FILED AS OF DATE: 20190305 DATE AS OF CHANGE: 20190305 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LeBlanc Claude CENTRAL INDEX KEY: 0001380820 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10777 FILM NUMBER: 19660899 MAIL ADDRESS: STREET 1: ONE BERMUDIANA ROAD CITY: HAMILTON STATE: D0 ZIP: HM 11 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_155183505446703.xml FORM 4 X0306 4 2019-03-04 0 0000874501 AMBAC FINANCIAL GROUP INC AMBC 0001380820 LeBlanc Claude C/O AMBAC FINANCIAL GROUP, INC. ONE STATE STREET PLAZA NEW YORK NY 10004 1 1 0 0 Chief Executive Officer Common Stock 2019-03-04 4 M 0 12138 0 A 59638 D Common Stock 2019-03-04 4 F 0 12394 20.11 D 47244 D Common Stock 2019-03-04 4 M 0 19881 0 A 67125 D Deferred Share Units 2019-03-04 4 M 0 12138 0 D Common Stock 12138.0 10718 D Restricted Stock Units 2019-03-04 4 M 0 19881 0 D Common Stock 19881.0 92296 D Deferred Share Units 2019-03-04 4 A 0 19394 0 A Common Stock 19394.0 30112 D Restricted Stock Units 2019-03-04 4 A 0 44307 0 A Common Stock 44307.0 136603 D Represents the aggregate amount of deferred share units ("DSUs") that were converted into shares of common stock of Ambac Financial Group, Inc. (the "Company") upon settlement of a portion of the reporting person's 2017 and 2018 Short Term Incentive Plan award and a limited number of DSUs awarded pursuant to the 2019 Short Term Incentive Plan were settled in order to satisfy certain tax withholding obligations imposed upon the Company. Represents the aggregate amount of DSUs and RSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations. On March 4, 2019, there were 19,881 restricted stock units ("RSUs") that settled, and were converted into shares of common stock of the Company. Each DSU represents a contingent right to receive one share of the Company's common stock. Each RSU represents a contingent right to receive one share of common stock of the Company. On March 4, 2019, there were 19,394 DSUs granted as part of the 2019 Short Term Incentive Plan. DSUs shall vest immediately and shall settle and convert into shares of common stock as follows: 50% of the DSUs shall settle and convert into shares of common stock on March 4, 2020, and the remaining 50% of the DSUs shall settle and convert into shares of common stock on March 4, 2021; provided however, that if the reporting person's employment with the Company is terminated for any reason, all of the DSUs will settle and convert into shares of common stock immediately. Notwithstanding the foregoing, a number of vested DSUs 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. On March 4, 2019 the reporting person received a grant of 44,307 restricted stock units ("RSUs") as part of their 2019 Long Term Incentive Plan award. The RSUs will vest in three equal annual installments commencing January 2, 2020, January 2, 2021, and January 2, 2022. William J. White, attoney-in-fact 2019-03-05 EX-24 2 poa-claudeleblancforedgari.htm POWER OF ATTORNEY, EXHIBIT 24

POWER OF ATTORNEY



            I, Claude LeBlanc, do hereby nominate, constitute and appoint each of  William White, Stephen M. Ksenak and Yolanda Ortiz, as my true and lawful agent and attorney-in-fact, with full power and authority to act hereunder, in his or her discretion, in my name and on my behalf as fully as I could if I were present and acting in person, to make any and all required or voluntary filings under Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the applicable rules and regulations thereunder, with the Securities and Exchange Commission, the NASDAQ Stock Exchange, Ambac Financial Group, Inc., a Delaware corporation (the "Company"), and any other person or entity to which such filings may be required under Section 16(a) of the Exchange Act as a result of my service as an officer or director of the Company or beneficial ownership (within the meaning of Section 16(a) of the Exchange Act) of more than ten percent of any class of equity securities of the Company.

            I hereby consent to, ratify and confirm all the said attorney-in-fact shall do or cause to be done by virtue of this Power of Attorney.  I hereby acknowledge the attorney-in-fact, in serving in such capacity at my request, is not assuming, nor is the Company assuming, any of my responsibilities to comply with Section 16 of the Exchange Act.

            This Power of Attorney shall remain in full force and effect from this date forward for so long as I am an officer or director of the Company and for such time thereafter as may be necessary to make any such filings or until revoked or modified by me.  I hereby revoke all prior powers of attorney relating to the foregoing acts.

            IN WITNESS WHEREOF, I have hereunto signed my name this 16th day of December, 2016.






                         ___/s/ Claude LeBlanc __
                        Claude LeBlanc