AMBAC FINANCIAL GROUP INC — Director's Dealing 2021

Mar 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMBAC FINANCIAL GROUP INC (AMBC)
CIK: 0000874501
Period of Report: 2021-03-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Common Stock	M	35344	—	Acquired	121596	Direct
2021-03-01	Common Stock	F	17994	$17.39	Disposed	103602	Direct
2021-03-02	Common Stock	M	2945	—	Acquired	106547	Direct
2021-03-02	Common Stock	F	1419	$16.77	Disposed	105128	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-02	Restricted Stock Units	$	M	2945	Disposed		Common Stock (2945.0)	Direct

Footnotes

F1: The reporting person acquired 35,344 shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the simultaneous vesting and settlement of the reporting person's 2018 Long Term Incentive Plan ("2018 LTIP") award, which had a three year performance period and vested on March 1, 2021.

F2: As part of the vesting and settlement of the 2018 LTIP, 17,994 shares of common stock were withheld by the Company to satisfy certain tax withholding obligations.

F3: On March 2, 2021 there were 2,945 restricted stock units ("RSUs") that vested and settled, and were converted into shares of common stock of the Company.

F4: Represents RSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations.

F5: Each RSU represents a contingent right to receive one share of common stock of the Company.