AMBAC FINANCIAL GROUP INC — Director's Dealing 2017

May 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMBAC FINANCIAL GROUP INC (AMBC)
CIK: 0000874501
Period of Report: 2017-05-12

Reporting Person: Eisman Robert Bryan (Sr. MD & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-12	Common Stock	A	2979	—	Acquired	8668	Direct
2017-05-12	Common Stock	F	1399	$17.18	Disposed	7269	Direct

Footnotes

F1: The reporting person acquired 2,979 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the simultaneous vesting and settlement of the reporting person's 2014 Long Term Incentive Plan award, which had a three year performance period and vested on May 12, 2017.

F2: As part of this vesting and settlement, 1,399 shares of common stock were withheld by the Company to satisfy certain tax withholding obligations.