X0303
4
2009-05-05
0000874501
AMBAC FINANCIAL GROUP INC
ABK
0001194129
CONSIDINE JILL M
AMBAC FINANCIAL GROUP, INC.
ONE STATE STREET PLAZA
NEW YORK
NY
10004
1
0
0
0
Common Stock
57645
D
Phantom Stock Units
2009-05-05
4
A
0
72464
1.38
A
Common Stock
72464
72464
D
Each Phantom Stock Unit converts to common stock on a one to one basis.
These Phantom Stock Units ("PSUs") were acquired under the Issuer's 1997 Non-Employee Directors Plan, as amended. The number of PSUs was determined based on the closing price of the Issuer's common stock on May 5, 2009. These PSUs will vest on May 5, 2010 and are to be settled 100% in cash. The Reporting Person has elected to settle such PSUs upon her retirement or resignation from the Issuer's Board of Directors.
Patricia LoCascio, Attorney in Fact for Jill M. Considine
2009-05-07