Assured Guaranty CCO awarded 3,490 shares

ASSURED GUARANTY LTD reported that Chief Credit Officer Stephen Donnarumma acquired 3,490 common shares as a grant classified as a compensation-related award.

Rhea-AI Filing Summary

ASSURED GUARANTY LTD reported that Chief Credit Officer Stephen Donnarumma acquired 3,490 common shares as a grant classified as a compensation-related award. According to the footnote, the number of shares reflects achievement of relative total shareholder value targets. These shares have vested but will be delivered in February 2027, provided he continues to comply with the terms of the award agreement. Following this award, he directly holds a total of 121,093.0408 common shares.

Insider Trade Summary

Grant/Award: 3,490 shares

Grant/Award 1 txn

Insider Donnarumma Stephen

Role Chief Credit Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	3,490	$0.00	$0.00

Holdings After Transaction: Common Shares — 121,093.0408 shares (Direct)

Footnotes (1)

1. F1. Represents the determination of the number of common shares to be delivered based on the achievement of relative total shareholder value targets. These shares have vested and will be delivered in February 2027 subject to continued compliance with the terms of the award agreement.

Key Figures

Share award size: 3,490 common shares Holdings after transaction: 121,093.0408 common shares Delivery date for vested award: February 2027 +1 more

4 metrics

Share award size 3,490 common shares Grant classified as compensation-related award

Holdings after transaction 121,093.0408 common shares Direct common shares following the award

Delivery date for vested award February 2027 Scheduled delivery for the 3,490 vested shares

Transaction code Code A (grant, award, or other acquisition) Non-derivative Form 4 transaction classification

Key Terms

relative total shareholder value, award agreement, vested, grant, award, or other acquisition

4 terms

relative total shareholder value financial

"based on the achievement of relative total shareholder value targets"

award agreement financial

"subject to continued compliance with the terms of the award agreement"

An award agreement is a legal contract that spells out the terms of a pay or equity grant—such as stock options, restricted shares, or cash bonuses—given to an employee, director or consultant. It describes what is being granted, any conditions for keeping it (for example, earning it over time or meeting performance targets), and what happens if the person leaves or breaks rules. Investors care because these agreements affect company costs, potential share dilution and how executives are motivated and rewarded.

vested financial

"These shares have vested and will be delivered in February 2027"

grant, award, or other acquisition financial

"transaction code description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Assured Guaranty (AGO) report for Stephen Donnarumma?

Assured Guaranty reported that Chief Credit Officer Stephen Donnarumma received a grant of 3,490 common shares. The shares represent a compensation-related award tied to performance targets and increase his direct holdings to 121,093.0408 common shares after the transaction.

Is the 3,490-share award to AGO’s Chief Credit Officer performance-based?

Yes. The 3,490 common shares were determined based on achieving relative total shareholder value targets. This means the final share amount reflects how Assured Guaranty’s shareholder returns compared with a benchmark group over the specified measurement period.

When will Stephen Donnarumma’s awarded AGO shares be delivered?

Although the 3,490 performance-based shares have vested, they will be delivered in February 2027. Delivery is contingent on continued compliance with the terms of the award agreement, so the shares are effectively locked until that future delivery date.

How many Assured Guaranty shares does the Chief Credit Officer hold after this Form 4?

After the reported award, Stephen Donnarumma directly holds 121,093.0408 common shares of Assured Guaranty. This figure includes the newly granted performance-based shares and provides a snapshot of his total direct equity stake following the transaction.

Was the AGO share grant to the Chief Credit Officer an open-market purchase?

No. The Form 4 classifies the 3,490-share transaction with code “A,” indicating a grant or award acquisition. The price per share is reported as 0.0000, confirming this was compensation rather than an open-market stock purchase.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 06:25 PM EDT Learn about SEC filing dates

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^*

Donnarumma Stephen

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	05/01/2026		A		3,490(1)	A	$0	121,093.0408	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the determination of the number of common shares to be delivered based on the achievement of relative total shareholder value targets. These shares have vested and will be delivered in February 2027 subject to continued compliance with the terms of the award agreement.

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)