AMBAC FINANCIAL GROUP INC 4
4 · AMBAC FINANCIAL GROUP INC · Filed Dec 22, 2014
Insider Transaction Report
Form 4
Adams Diana
Senior Managing Director
Transactions
- Tax Payment
Common Stock
2014-12-20$24.04/sh−652$15,674→ 0 total - Exercise/Conversion
Common Stock
2014-12-20$24.04/sh+652$15,674→ 652 total - Exercise/Conversion
Restricted Stock Units
2014-12-20$24.04/sh−652$15,674→ 32,878 total→ Common Stock (652 underlying)
Footnotes (3)
- [F1]On December 20, 2014, 652 restricted stock units ("RSUs") vested, were converted into shares of common stock and withheld by Ambac Financial Group (the "Company") to satisfy certain tax withholding obligations.
- [F2]Each RSUs represents a contingent right to receive one share of common stock of the Company.
- [F3]The RSUs vested in two installments, 50% on December 20, 2013 (the "Grant Date") and 50% on the first anniversary of the Grant Date (12/20/2014). RSUs that have become vested shall settle and convert into shares of common stock on the earlier of (a) the reporting person's termination of employment with the Company or (b) the second anniversary of the applicable vesting date. Notwithstanding the foregoing, a number of vested RSUs sufficient to satisfy any tax withholding obligations imposed upon the Company may be converted into shares of common stock and withheld by the Company to satisfy any such tax withholding obligations.