AMBAC FINANCIAL GROUP INC
For the period ended Mar 31, 2024. Filed May 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unregistered Sales of Equity Securities and Use of Proceeds
(a) Unregistered Sales of Equity Securities —No matters require disclosure.
(b) Purchases of Equity Securities By the Issuer and Affiliated Purchasers
The following table summarizes Ambac's share purchases during the first quarter of 2024.
| Jan-2024 | Feb-2024 | Mar-2024 | First Quarter 2024 | |
|---|---|---|---|---|
| Total Shares Purchased | — | — | 42,016 | 42,016 |
| Average Price Paid Per Share | $— | $— | $16.24 | $16.24 |
| Total Number of Shares Purchased as Part of Publicly Announced Plan | — | — | — | — |
| Approximate Dollar Value of Shares That may Yet be Purchased Under the Plan (in millions) | $16 | $16 | $— | $— |
When restricted stock unit awards issued by Ambac vest or settle, they become taxable compensation to employees. For certain awards, shares may be withheld to cover the employee's portion of withholding taxes. In the first quarter of 2024, Ambac purchased shares from employees that settled restricted stock units to meet employee tax withholdings.
On March 29, 2022, our Board of Directors approved a share repurchase program authorizing up to $20 million in share repurchases, and on May 5, 2022, the Board of Directors authorized an additional $15 million share repurchase. This program expired on March 31, 2024. The following table shows shares repurchased by year.
| ($ in millions, except per share) | 2023 | 2022 | Total |
|---|---|---|---|
| Shares repurchased | 325,068 | 1,605,316 | 1,930,384 |
| Total cost | $4.5 | $14.2 | $18.7 |
| Average purchase price per share | $13.88 | $8.86 | $9.70 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.