DEROSA PAUL R 4
4 · AMBAC FINANCIAL GROUP INC · Filed May 7, 2009
Insider Transaction Report
Form 4
DEROSA PAUL R
Director
Transactions
- Award
Phantom Stock Unit
2009-05-05$1.38/sh+72,464$100,000→ 72,464 total→ Common Stock (72,464 underlying) - Award
Phantom Stock Unit
2009-05-05$1.38/sh+152,174$210,000→ 152,174 total→ Common Stock (152,174 underlying)
Holdings
- 78,488
Common Stock
Footnotes (3)
- [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 1997 Non-Employee Directors Plan, as amended. The number of PSUs was determined based on the closing price of the Issuer's common stock on May 5, 2009. These PSUs will vest on May 5, 2010 and are to be settled 100% in cash. However, the Reporting Person has deferred settlement of these PSUs until December 30, 2011.
- [F3]These Phantom Stock Units ("PSUs") were acquired under the Issuer's 1997 Non-Employee Directors Plan, as amended. The number of PSUs was determined based on the closing price of the Issuer's common stock on May 5, 2009. These PSUs will vest on May 5, 2014 and are to be settled 100% in cash.