FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 12/10/2003 |
3. Issuer Name and Ticker or Trading Symbol
AMBAC FINANCIAL GROUP INC [ ABK ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 104,386(1) | D | |
Common Stock | 1,336(2) | I | Savings Plan Trust |
Common Stock | 75 | I | IRA |
Common Stock | 90 | I | IRA by spouse |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option (Right to Buy) | 03/29/2001(3) | 01/24/2007 | Common Stock | 4,210 | $31.02 | D | |
Employee Stock Option (Right to Buy) | 03/29/2001(4) | 01/24/2007 | Common Stock | 22,500 | $31.02 | D | |
Employee Stock Option (Right to Buy) | 05/29/2002(5) | 01/22/2008 | Common Stock | 20,000 | $48.66 | D | |
Employee Stock Option (Right to Buy) | 08/29/2002 | 04/26/2004 | Common Stock | 2,809 | $59.18 | D | |
Employee Stock Option (Right to Buy) | 01/22/2008(6) | 01/22/2009 | Common Stock | 22,000 | $58.93 | D | |
Employee Stock Option (Right to Buy) | 03/06/2003 | 01/27/2005 | Common Stock | 8,775 | $62.31 | D | |
Employee Stock Option (Right to Buy) | 03/06/2003 | 05/01/2005 | Common Stock | 3,352 | $62.31 | D | |
Employee Stock Option (Right to Buy) | 10/18/2003 | 05/01/2005 | Common Stock | 1,756 | $63.58 | D | |
Employee Stock Option (Right to Buy) | 01/21/2009(7) | 01/21/2010 | Common Stock | 22,000 | $56.14 | D | |
Employee Stock Option (Right to Buy) | 06/18/2004 | 01/26/2006 | Common Stock | 9,482 | $69.92 | D | |
Employee Stock Option (Right to Buy) | 06/18/2004 | 01/24/2007 | Common Stock | 8,115 | $69.92 | D |
Explanation of Responses: |
1. Includes Restricted Stock Units ("RSUs") granted to the Reporting Person under the Issuer's 1997 Equity Plan, as amended. |
2. Based on a plan statement as of December 12, 2003. |
3. All of the shares underlying these options are exercisable. |
4. All of the shares underlying these options are exercisable. |
5. Exercisable as follows: 10,000 shares became exercisable on May 29, 2002. The remaining 10,000 will be exercisable after the per share price of the Issuer's common stock is or exceeds $78.00 for 20 consecutive trading on the New York Stock Exchange (NYSE). If all or a portion of the shares have not become exercisable by January 22, 2007, then such unexercisable amount shall be exercisable on January 22, 2007. |
6. Exercisable as follows: 11,000 shares after the per share price of the Issuer's common stock is or exceeds $75.00 for 20 consecutive trading days on the New York Stock Exchange (NYSE). The remaining 11,000 shares will be exercisable after the per share price of the Issuer's common stock is or exceeds $90.00 for 20 consecutive trading days on the NYSE. If all or a portion of the shares have not become exercisable by January 22, 2008, then such unexercisable amount shall become exercisable on January 22, 2008. |
7. Exercisable as follows: 11,000 shares after the per share price of the Issuer's common stock is or exceeds $72.00 for 20 consecutive trading days on the New York Stock Exchange (NYSE). The remaining 11,000 shares will be exercisable after the per share price of the Issuer's common stock is or exceeds $88.00 for 20 consecutive trading days on the NYSE. If all or a portion of the shares have not become exercisable by January 21, 2009, then such unexercisable amount shall become exercisable on January 21, 2009. |
Remarks: |
Anne G. Gill, Attorney- in-fact for John W. Uhlein | 12/17/2003 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |