R. Sharon Smith - Oct 3, 2025 Form 4/A - Amendment Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role: Exec VP & Group COO
Signature: William White, attorney-in-fact
Stock symbol: AMBC
Transactions as of: Oct 3, 2025
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 10/3/2025, 04:59 PM
Date Of Original Report: Oct 3, 2025
Previous filing: Oct 1, 2025
Next filing: Nov 14, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Smith R Sharon	Exec VP & Group COO	AMBAC FINANCIAL GROUP, INC., ONE WORLD TRADE CENTER, 41ST FLOOR, NEW YORK	William White, attorney-in-fact	2025-10-03	0001707461

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AMBC	Performance Stock Option	Award	$0	+284K		$0.00	284K	Oct 3, 2025	Common Stock	284K	$8.97	Direct	F1, F2
transaction	AMBC	Restricted Stock Units	Award	$0	+55.4K	+109.19%	$0.00	106K	Oct 3, 2025	Common Stock	55.4K		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Performance Stock Option shall be eligible to vest beginning one year after the grant date based on Ambac Financial Group's (the "Company") achievement of the certain price hurdles related to the shares of Common Stock, during the five (5) year period following the grant date as follows: (i) 40 % shall vest on the date on which the sustained stock price first exceeds $18.00 per share; (ii) 20% shall vest on the date on which the sustained stock price first exceeds $21.50 per share; (iii) 20% shall vest on the date on which the sustained stock price first exceeds $25.00 per share; and (iv) 20% shall vest on the date on which the sustained stock price first exceeds $30.00 per share.
F2	On October 3, 2025, the reporting person filed a Form 4 that inadvertently reported the expiration date of the performance stock option award as October 3, 2025. The correct expiration date is October 3, 2035.
F3	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock of the Company.
F4	On October 3, 2025 the reporting person received a special RSU grant that will vest and become non-forfeitable after one year (subject to limited exceptions), but will not settle until the earlier of the fifth (5) year anniversary of the grant date or the reporting person's termination date, provided such termination occurs after the one year vesting date.