AMBAC FINANCIAL GROUP INC — Director's Dealing 2020

May 20, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMBAC FINANCIAL GROUP INC (AMBC)
CIK: 0000874501
Period of Report: 2020-05-18

Reporting Person: Trick David (Exec VP, CFO & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-18	Common Stock	M	6244	—	Acquired	86314	Direct
2020-05-18	Common Stock	F	2910	$13.69	Disposed	83404	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-18	Restricted Stock Units	$	M	6244	Disposed		Common Stock (6244.0)	Direct

Footnotes

F1: On May 18, 2020 there were 6,244 restricted stock unit ("RSUs") that vested, settled and were converted into shares of common stock of Ambac Financial Group, Inc. (the "Company").

F2: Represents the amount of RSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations.

F3: Each RSU represents a contingent right to receive one share of the common stock the Company.