ASSURED GUARANTY LTD — Director's Dealing 2016

Nov 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSURED GUARANTY LTD (AGO)
CIK: 0001273813
Period of Report: 2016-10-14

Reporting Person: MICHENER JAMES M (General Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-14	Common Shares	G	3500	$0.00	Disposed	312297.0005	Direct
2016-11-04	Common Shares	M	50000	$26.70	Acquired	362297.0005	Direct
2016-11-04	Common Shares	F	45585	$31.80	Disposed	316712.0005	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-04	Options to Acquire Common Shares	$26.70	M	50000	Disposed	2017-02-08	Common Shares (50000)	Direct

Footnotes

F1: Represents the payment of the exercise price and withholding taxes of an employee stock option through the attestation of previously owned shares.

F2: 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.

F3: Options vested as follows: 1/3 on 02/08/2008, 1/3 on 02/08/2009 and 1/3 on 02/08/2010.

F4: 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 96,962 (after taking into account 50,000 options exercised on 11/4/2016). The total number of performance share units from tranches with different performance measures, performance periods and vesting dates is 52,206.