DEROSA PAUL R 4/A
4/A · AMBAC FINANCIAL GROUP INC · Filed Jul 7, 2009
Insider Transaction Report
Form 4/AAmended
DEROSA PAUL R
Director
Transactions
- Award
Phantom Stock Units
2009-07-01$0.93/sh+29,570$27,500→ 61,887 total→ Common Stock (29,570 underlying)
Holdings
- 78,488
Common Stock
Footnotes (4)
- [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.
- [F3]Due to an administrative error, the number of PSUs acquired on July 1, 2009 were incorrectly reported. The correct number of PSUs the reporting person acquired on July 1, 2009 were 29,570 instead of 27,419.
- [F4]Due to an administrative error, the number of PSUs owned on July 1, 2009 were incorrectly reported. As of July 1, 2009 the reporting person owned 61,887 PSUs instead of 59,736 PSUs.