DEROSA PAUL R 4
4 · AMBAC FINANCIAL GROUP INC · Filed Jul 2, 2009
Insider Transaction Report
Form 4
DEROSA PAUL R
Director
Transactions
- Award
Phantom Stock Units
2009-07-01$0.93/sh+27,419$25,500→ 59,736 total→ Common Stock (27,419 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 second 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.