Claude LeBlanc - 03 Oct 2025 Form 4/A - Amendment Insider Report for AMBAC FINANCIAL GROUP INC (AMBC)

Role: Chief Executive Officer, Director
Signature: William White, attorney-in-fact
Issuer symbol: AMBC
Transactions as of: 03 Oct 2025
Transactions value $: $0
Form type: 4/A - Amendment
Filing time: 03 Oct 2025, 17:02:27 UTC
Date Of Original Report: 03 Oct 2025
Previous filing: 01 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
LeBlanc Claude	Chief Executive Officer, Director	AMBAC FINANCIAL GROUP, INC., ONE WORLD TRADE CENTER, 41ST FLOOR, NEW YORK	William White, attorney-in-fact	03 Oct 2025	0001380820

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	+500K		$0.00	500K	03 Oct 2025	Common Stock	500K	$8.97	Direct	F1
transaction	AMBC	Restricted Stock Units	Award	$0	+45.7K	+19.41%	$0.00	281K	03 Oct 2025	Common Stock	45.7K		Direct	F2, F3
transaction	AMBC	Restricted Stock Units	Award	$0	+233K	+82.91%	$0.00	514K	03 Oct 2025	Common Stock	233K		Direct	F2, 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, Inc.'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	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock of the Company.
F3	On October 3, 2025 the reporting person received a grant of 45,650 RSUs to replace a portion of the July 2025 Long Term Incentive Plan award previously determined to be void ab initio. These RSUs will vest in three equal annual installments commencing October 3, 2026, July 9, 2027, and July 9, 2028.
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.