DEROSA PAUL R 4
4 · AMBAC FINANCIAL GROUP INC · Filed Apr 3, 2009
Insider Transaction Report
Form 4
DEROSA PAUL R
Director
Transactions
- Award
Phantom Stock Unit
2009-04-01$0.82/sh+32,317$26,500→ 32,317 total→ Common Stock (32,317 underlying)
Holdings
- 78,488
Common Stock
Footnotes (2)
- [F1]Each Phantom Stock Unit converts to common stock on a one to one basis.
- [F2]These Phantom Stock Units ("PSUs") were acquired under the Issuer's Deferred Compensation Plan and represent 25% of the Reporting Person's Annual Retainer Fees for serving as a director and 100% of his Meeting Fees earned during the first quarter of 2009. These PSUs are to be settled 100% in cash upon the Reporting Person's retirement or resignation from the Issuer's Board of Directors or on an earlier date previously selected by the Reporting Person.