0000874501-23-000061.txt : 20230309 0000874501-23-000061.hdr.sgml : 20230309 20230309161214 ACCESSION NUMBER: 0000874501-23-000061 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230308 FILED AS OF DATE: 20230309 DATE AS OF CHANGE: 20230309 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Smith R Sharon CENTRAL INDEX KEY: 0001707461 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10777 FILM NUMBER: 23719872 MAIL ADDRESS: STREET 1: ONE STATE STREET PLAZA CITY: NEW YORK STATE: NY ZIP: 10004 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: AMBAC FINANCIAL GROUP INC CENTRAL INDEX KEY: 0000874501 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 133621676 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: ONE WORLD TRADE CENTER CITY: NEW YORK STATE: NY ZIP: 10007 BUSINESS PHONE: 2126587470 MAIL ADDRESS: STREET 1: ONE WORLD TRADE CENTER CITY: NEW YORK STATE: NY ZIP: 10007 FORMER COMPANY: FORMER CONFORMED NAME: AMBAC INC /DE/ DATE OF NAME CHANGE: 19930328 4 1 wf-form4_167839632150993.xml FORM 4 X0306 4 2023-03-08 0 0000874501 AMBAC FINANCIAL GROUP INC AMBC 0001707461 Smith R Sharon AMBAC FINANCIAL GROUP, INC. ONE WORLD TRADE CENTER, 41ST FLOOR NEW YORK NY 10007 0 1 0 0 Exec VP & Chief Strategy Offr Common Stock 2023-03-08 4 M 0 301 0 A 73908 D Common Stock 2023-03-08 4 F 0 301 16.41 D 73607 D Restricted Stock Units 2023-03-08 4 M 0 301 0 D Common Stock 301.0 39171 D Restricted Stock Units 2023-03-08 4 M 0 6287 0 D Common Stock 6287.0 32884 D Deferred Share Units 2023-03-08 4 M 0 6287 0 A Common Stock 6287.0 11646 D Represents the aggregate amount of restricted stock units ("RSUs") that were converted into shares of common stock of Ambac Financial Group, Inc. (the "Company") upon settlement of a portion of the reporting person's 2021 Long Term Incentive Plan award. Represents the aggregate amount of RSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations. Each RSU represents a contingent right to receive one share of the common stock of the Company. Represents the aggregate amount of RSUs that were converted into an equivalent number of deferred share units ("DSUs") pursuant to the Company's Executive Stock Deferral Plan, which was designed to enable participants to elect to defer the settlement and income taxation of RSU and Performance Stock Unit awards in accordance with Section 409A of the Internal Revenue Code of 1986, as amended. Represents the aggregate amount of RSUs that were converted into DSUs of the Company upon settlement of a portion of the reporting person's 2021 Long Term Incentive Plan award. Each DSU represents a contingent right to receive one share of common stock of the Company. William J. White, attorney-in-fact 2023-03-09 EX-24 2 poa-rsharonsmithforedgariz.htm POWER OF ATTORNEY

POWER OF ATTORNEY

I, R. Sharon Smith, do hereby nominate, constitute and appoint each of William J. White, Stephen M. Ksenak and Yolanda Ortiz, as my true and lawful agent and attorney-in-fact, with full power and authority to act hereunder, in his or her discretion, in my name and on my behalf as fully as I could if I were present and acting in person, to make any and all required or voluntary filings under Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the applicable rules and regulations thereunder, with the Securities and Exchange Commission, the NASDAQ Stock Exchange, Ambac Financial Group, Inc., a Delaware corporation (the "Company"), and any other person or entity to which such filings may be required under Section 16(a) of the Exchange Act as a result of my service as an officer or director of the Company or beneficial ownership (within the meaning of Section 16(a) of the Exchange Act) of more than ten percent of any class of equity securities of the Company.

I hereby consent to, ratify and confirm all the said attorney-in-fact shall do or cause to be done by virtue of this Power of Attorney. I hereby acknowledge the attorney-in-fact, in serving in such capacity at my request, is not assuming, nor is the Company assuming, any of my responsibilities to comply with Section 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect from this date forward for so long as I am an officer or director of the Company and for such time thereafter as may be necessary to make any such filings or until revoked or modified by me. I hereby revoke all prior powers of attorney relating to the foregoing acts.

IN WITNESS WHEREOF, I have hereunto signed my name this 17th day of May, 2017.

___/s/ R. Sharon Smith__