X0202 5 2006-12-31 0 1 1 0001304623 ACA Capital Holdings Inc ACA 0001390007 Larson Brad Lewis C/O ACA CAPITAL HOLDINGS, INC. 140 BROADWAY NEW YORK NY 10005 0 0 0 1 See Remarks Below Common Stock 2006-11-15 4 C 0 L 1800 A 1800 D Series B Convertible Preferred Stock 3 Common Stock 1800 0 D Series B Convertible Preferred Stock 2006-11-15 4 C 0 L 300 D Common Stock 9632.36 0 D Stock Options 12.13 3 2012-04-15 Common Stock 14592 14592 D Stock Options 10.38 3 2014-02-09 Common Stock 16206 16206 D Stock OPtions 12.66 3 2016-02-09 Common Stock 33000 33000 D The Series B Convertible Preferred Shares had no expiration date and, upon the closing of the initial public offering of the issuer, converted into shares of the issuer's common stock on a 6-for-1 basis. The number of shares reported reflects the 6-for-1 conversion. The Series B Convertible Preferred Shares had no expiration date and, upon the closing of the initial public offering of the issuer, converted into shares of the issuer's common stock on a 6-for-1 basis. The number of shares reported reflects the 6-for-1 conversion. These stock options are fully vested. This option is already vested as to 9,260 of the shares underlying the option. The remaining shares will vest in equal installments every 6 months beginning May 9, 2007. This option is already vested as to 9,428 of the shares underlying the option. The remaining shares will vest in equal installments every 6 months beginning August 9, 2007 . The reporting person may be deemed a member of Section 13(d) "group" pursuant to the issuer's stockholder's agreement. This filing shall not be deemed an admission that any reporting person is, for purposes of Section 13(d) or Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, a member of a group or the beneficial owner of any securities in excess of the amount in which the reporting person has a pecuniary interest. /s/ Stacey Tyson, Attorney-In-Fact 2007-02-14