Was the 1,277-share disposition by AGO director Borges an open-market stock sale?

No, the 1,277-share disposition was not an open-market sale. The filing states these Common Shares were withheld to pay a tax liability, meaning they were retained by the issuer to satisfy taxes related to equity compensation, not sold on the public market.

What is the nature of the 5,934-share award reported by AGO director Francisco L. Borges?

The 5,934 Common Shares represent restricted stock awarded to Borges as an annual retainer equity award for non-management directors. The award was granted under the Assured Guaranty Ltd. 2024 Long Term Incentive Plan and is classified as a grant or award acquisition.

Assured Guaranty (NYSE: AGO) director gets 5,934 restricted shares, 1,277 withheld for taxes

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

ASSURED GUARANTY LTD director Francisco L. Borges reported routine equity compensation and related tax withholding. On May 1, 2026, he acquired 5,934 Common Shares as a restricted stock award granted as an annual retainer under the 2024 Long Term Incentive Plan. A separate transaction on April 30, 2026 shows 1,277 Common Shares withheld at $81.90 per share to satisfy tax liability, which is not an open-market sale. After these transactions, Borges directly held 180,359 Common Shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BORGES FRANCISCO L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	5,934	$0.00	--
Tax Withholding	Common Shares	1,277	$81.90	$105K

Holdings After Transaction: Common Shares — 180,359 shares (Direct, null)

Footnotes (1)

Common Shares being withheld to pay tax liability. Restricted stock awarded to non-management directors as an annual retainer equity award pursuant to the Assured Guaranty Ltd. 2024 Long Term Incentive Plan, which become non-forfeitable on the day immediately prior to the 2027 annual shareholders meeting.

Key Figures

Restricted stock award: 5,934 Common Shares Tax withholding shares: 1,277 Common Shares Tax withholding price: $81.90 per share +2 more

5 metrics

Restricted stock award 5,934 Common Shares Grant to director on May 1, 2026

Tax withholding shares 1,277 Common Shares Withheld to pay tax liability on April 30, 2026

Tax withholding price $81.90 per share Value used for 1,277 withheld shares

Shares after award 180,359 Common Shares Direct holdings following May 1, 2026 grant

Shares after withholding 174,425 Common Shares Direct holdings following April 30, 2026 tax withholding

Key Terms

Restricted stock, tax liability, annual retainer equity award, Long Term Incentive Plan, +1 more

5 terms

Restricted stock financial

"Restricted stock awarded to non-management directors as an annual retainer equity award"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

tax liability financial

"Common Shares being withheld to pay tax liability."

annual retainer equity award financial

"Restricted stock awarded to non-management directors as an annual retainer equity award"

Long Term Incentive Plan financial

"pursuant to the Assured Guaranty Ltd. 2024 Long Term Incentive Plan"

A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 06:15 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BORGES FRANCISCO L

(Last)

(First)

(Middle)

30 WOODBOURNE AVENUE 5TH FLOOR

(Street)

HAMILTON

HM 08

(City)

(State)

(Zip)

BERMUDA

(Country)

2. Issuer Name and Ticker or Trading Symbol
ASSURED GUARANTY LTD [ AGO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	04/30/2026		F		1,277⁽¹⁾	D	$81.9	174,425	D
Common Shares	05/01/2026		A		5,934	A	$0⁽²⁾	180,359	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Common Shares being withheld to pay tax liability.

2. Restricted stock awarded to non-management directors as an annual retainer equity award pursuant to the Assured Guaranty Ltd. 2024 Long Term Incentive Plan, which become non-forfeitable on the day immediately prior to the 2027 annual shareholders meeting.

Remarks:

	/s/ Ling Chow, Attorney-in-fact	05/04/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did AGO director Francisco L. Borges report on this Form 4?

Francisco L. Borges reported receiving 5,934 restricted Common Shares as an equity award and 1,277 shares withheld to cover taxes. Both transactions are compensation-related rather than open-market trades, reflecting routine director stock-based compensation at Assured Guaranty Ltd.

How many Assured Guaranty (AGO) shares does Francisco L. Borges hold after these transactions?

After the reported transactions, Francisco L. Borges directly holds 180,359 Common Shares of Assured Guaranty Ltd. This figure reflects his position following the equity award grant and the separate share withholding for tax liabilities described in the Form 4 filing.

When do the restricted shares awarded to AGO director Borges become non-forfeitable?

The restricted stock awarded as the 5,934-share grant becomes non-forfeitable on the day immediately prior to the 2027 annual shareholders meeting. Until that time, the shares remain restricted under the terms of Assured Guaranty Ltd.’s 2024 Long Term Incentive Plan.

How was the tax withholding for AGO director Borges’ equity award priced?

The 1,277 Common Shares withheld to satisfy Borges’ tax liability were valued at $81.90 per share. This price is disclosed in the Form 4 as the transaction price per share for the tax-withholding disposition related to his equity compensation.