ASSURED GUARANTY LTD — Director's Dealing 2018

Jan 4, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ASSURED GUARANTY LTD (AGO)
CIK: 0001273813
Period of Report: 2018-01-01

Reporting Person: Chow Ling (General Counsel and Secretary)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	52219	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options to Acquire Common Shares	$7.44	2019-02-05	Common Shares (4000)		Direct
Options to Acquire Common Shares	$19.79	2020-02-24	Common Shares (2500)		Direct
Options to Acquire Common Shares	$17.44	2019-02-09	Common Shares (2241)		Direct
Options to Acquire Common Shares	$19.24	2020-02-07	Common Shares (6200)		Direct
Options to Acquire Common Shares	$21.88	2021-02-05	Common Shares (3898)		Direct

Footnotes

F1: Included in the total are 479 restricted stock units awarded on February 5, 2014 pursuant to the Assured Guaranty Ltd. 2004 Long-Term Incentive Plan (the "Plan"). These restricted stock units vest on the fourth anniversary of the date of the award. Upon vesting, one (1) common share will be delivered for each vested restricted stock unit.

F2: Included in the total are 3,962 restricted stock units awarded on February 4, 2015 pursuant to the Plan. These restricted stock units vest as follows: 1/2 on the third anniversary of the date of the award and 1/2 on the fourth anniversary of the date of the award. Upon vesting, one (1) common share will be delivered for each vested restricted stock unit.

F3: Included in the total are 7,679 restricted stock units awarded on February 24, 2016 pursuant to the Plan. These restricted stock units vest as follows: 1/3 on the second anniversary of the date of the award, 1/3 on the third anniversary of the date of the award and 1/3 on the fourth anniversary of the date of the award. Upon vesting, one (1) common share will be delivered for each vested restricted stock unit.

F4: Included in the total are 9,657 restricted stock units awarded on February 22, 2017 pursuant to the Plan. These restricted stock units vest as follows: 1/4 on the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the third anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award. Upon vesting, one (1) common share will be delivered for each vested restricted stock unit.

F5: Stock option award pursuant to the Plan granted on 02/05/2009. These options vested: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversary of the date of the award.

F6: Stock option award pursuant to the Plan granted on 02/24/2010. These options vested: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversary of the date of the award.

F7: Stock option award pursuant to the Plan granted on 02/09/2012. These options vested on the third anniversary of the date of the award.

F8: Stock option award pursuant to the Plan granted on 02/07/2013. These options vested: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversary of the date of the award.

F9: Stock option award pursuant to the Plan granted on 02/05/2014. These options vested: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversary of the date of the award.