ASSURED GUARANTY LTD — Director's Dealing 2014

Sep 4, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSURED GUARANTY LTD (AGO)
CIK: 0001273813
Period of Report: 2014-09-03

Reporting Person: MILLS ROBERT B (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-03	Common Shares	A	30.1026	$24.41	Acquired	237157.4619	Direct
2014-09-03	Common Shares	M	80000	$18.03	Acquired	317157.4619	Direct
2014-09-03	Common Shares	F	69874	$24.41	Disposed	247940.4619	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-03	Options to Acquire Common Shares	$18.03	M	80000	Disposed	2015-02-10	Common Shares (80000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	200	Indirect

Footnotes

F1: Represents accrual of dividend equivalents on restricted stock units granted pursuant to the Assured Guaranty Ltd. 2004 Long-Term Incentive Plan which meets the requirements of Rule 16b-3.

F2: Represents the payment of the exercise price and withholding taxes of an employee stock option through the attestation of previously owned shares.

F3: The price is equal to the fair market value of the Common Shares on the date of exercise and is used to determine the value of the shares delivered to the Company by attestation of previously owned shares in payment of the exercise price and withholding taxes.

F4: Total includes 657 shares purchased on 6/30/2014 pursuant to the Assured Guaranty Ltd. Stock Purchase Plan which meets the requirements of Rule 16b-3.

F5: Options vested as follows: 1/3 on 02/10/2006, 1/3 on 02/10/2007 and 1/3 on 02/10/2008.

F6: All options of this tranche have been exercised. The total number of options from other tranches with different exercise prices, vesting terms and expiration dates is 277,495.