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