DULUDE RICHARD 4
4 · AMBAC FINANCIAL GROUP INC · Filed Sep 4, 2003
Insider Transaction Report
Form 4
DULUDE RICHARD
Director
Transactions
- Award
Common Stock
2003-09-03$66.00/sh+13$858→ 15,964 total - Award
Phantom Stock Units
2003-09-03$66.00/sh+237$15,642→ 10,302 total→ Common Stock (237 underlying) - Award
Phantom Stock Units
2003-09-03$66.00/sh+17$1,122→ 10,065 total→ Common Stock (17 underlying)
Footnotes (7)
- [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 dated previously selected by the Reporting Person.
- [F3]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 dated previously selected by the Reporting Person.
- [F4]These Phantom Stock Units ("PSU") were acquired under the Issuer's Deferred Compensation Plan and represent 25% of the Reporting Person's Annual Fees for serving as a director and chair of a committee and 100% of his Meeting Fees earned during the second quarter of 2003. 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.
- [F5]These Phantom Stock Units ("PSU") were acquired under the Issuer's Deferred Compensation Plan and represent 25% of the Reporting Person's Annual Fees for serving as a director and chair of a committee and 100% of his Meetings Fees earned during the second quarter of 2003. 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.
- [F6]Each Phantom Stock Unit converts to common stock on a one to one basis.
- [F7]Each Phantom Stock Unit converst to common stock on a one to one basis.