CALLEN MICHAEL A 4
4 · AMBAC FINANCIAL GROUP INC · Filed Jun 9, 2006
Insider Transaction Report
Form 4
CALLEN MICHAEL A
Chairman
Transactions
- Award
Common Stock
2006-06-07$79.28/sh+18$1,427→ 17,868 total - Award
Phantom Stock Units
2006-06-07$79.28/sh+315$24,973→ 12,574 total→ Common Stock (315 underlying) - Award
Phantom Stock Units
2006-06-07$79.28/sh+23$1,823→ 12,258 total→ Common Stock (23 underlying)
Footnotes (4)
- [F1]Represents dividends on Restricted Stock Units ("RSUs") granted to the Reporting Person under the Issuer's 1997 Non-Employee Directors Equity Plan, as amended, which dividends are paid in the form of additional RSUs.
- [F2]Represents dividends on Phantom Stock Units acquired under the Issuer's Deferred Compensation Plan and 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]These Phantom Stock Units ("PSU") 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 chair of a committee earned during the first quarter of 2006. 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.
- [F4]Each Phantom Stock Unit converts to common stock on a one to one basis.