AMBAC FINANCIAL GROUP INC 4
4 · AMBAC FINANCIAL GROUP INC · Filed Dec 23, 2013
Insider Transaction Report
Form 4
Adams Diana
Senior Managing Director
Transactions
- Exercise/Conversion
Common Stock
2013-12-20$20.63/sh+402$8,293→ 402 total - Award
Restricted Stock Units
2013-12-20+33,932→ 33,932 total→ Common stock (33,932 underlying) - Tax Payment
Common Stock
2013-12-20$20.63/sh−402$8,293→ 0 total - Exercise/Conversion
Restricted Stock Units
2013-12-20$20.63/sh−402$8,293→ 33,530 total→ Common stock (402 underlying)
Footnotes (4)
- [F1]On December 20, 2013 (the "Grant Date"), 402 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 RSU represents a contingent right to receive one share of the Company's common stock.
- [F3]The RSUs shall vest in two installments, 50% on 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.
- [F4]The RSUs were received as an award under the Company's 2013 Incentive Compensation Plan.