0000874501-19-000039.txt : 20190305
0000874501-19-000039.hdr.sgml : 20190305
20190305211644
ACCESSION NUMBER: 0000874501-19-000039
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20190304
FILED AS OF DATE: 20190305
DATE AS OF CHANGE: 20190305
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: 19661054
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_155183858588179.xml
FORM 4
X0306
4
2019-03-04
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
2019-03-04
4
M
0
7943
0
A
7943
D
Common Stock
2019-03-04
4
F
0
3446
20.11
D
4497
D
Common Stock
2019-03-04
4
M
0
2209
0
A
6706
D
Deferred Share Units
2019-03-04
4
M
0
7943
0
D
Common Stock
7943.0
7744
D
Restricted Stock Units
2019-03-04
4
M
0
2209
0
D
Common Stock
2209.0
11923
D
Deferred Share Units
2019-03-04
4
A
0
3941
0
A
Common Stock
3941.0
11685
D
Restricted Stock Units
2019-03-04
4
A
0
6564
0
A
Common Stock
6564.0
18487
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 that were settled in order to satisfy certain tax withholding obligations imposed upon the Company.
Represents the aggregate amount of DSUs and restricted stock units ("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 2,209 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 3,941 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 6,564 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, attorney-in-fact
2019-03-05