[Form 3] AMBAC FINANCIAL GROUP INC Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Ambac Financial Group, Inc. (AMBC) Form 3 shows Cristina E. Ahn, listed as a Director and Chief Accounting Officer, reported initial beneficial ownership of 2,486 restricted stock units (RSUs) that represent common stock. The RSUs were granted on March 10, 2025 as part of the 2025 Long Term Incentive Plan and will vest in three equal annual installments beginning March 10, 2026, with subsequent vesting on March 3, 2027 and March 3, 2028. The filing was dated 09/29/2025 for the event and signed via attorney-in-fact on 09/30/2025. No other securities or derivative holdings are reported on this form.

Positive

• Transparent disclosure of the RSU grant date, amount, and full vesting schedule
• Officer and director status is clearly identified, aiding governance transparency

Negative

• None.

Insights

Financial Analyst

TL;DR Routine Section 16 initial disclosure of equity award with standard multi-year vesting; immaterial to company capitalization.

The Form 3 documents an initial, non-exercisable equity grant of 2,486 RSUs to an officer and director, vested over three years. For a public company, this level of equity is typical for an executive-level long-term incentive award and is unlikely to be material to Ambac's overall share count or earnings. The filing meets regulatory disclosure requirements and provides clarity on the timing of future share issuance as RSUs vest.

Corporate Governance Expert

TL;DR Standard insider disclosure that aligns with governance transparency; vesting schedule disclosed clearly.

The report identifies Cristina E. Ahn as both a director and Chief Accounting Officer and discloses the grant date and precise vesting schedule for 2,486 RSUs. This transparency supports investor oversight of executive compensation timing and potential future dilution from share settlement upon vesting. No indications of related-party transactions or atypical terms are presented in the form.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Ahn Cristina E.

(Last) (First) (Middle)

C/O AMBAC FINANCIAL GROUP, INC.

ONE WORLD TRADE CENTER

(Street)

NEW YORK NY 10007

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/29/2025

3. Issuer Name and Ticker or Trading Symbol
AMBAC FINANCIAL GROUP INC [ AMBC ]

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	(1)	Common Stock	2,486	$0	D

Explanation of Responses:

1. On March 10, 2025 the reporting person received a grant of 2,486 restricted stock units ("RSUs") as part of their 2025 Long Term Incentive Plan award. The RSUs will vest in three equal annual installments commencing March 10, 2026, March 3, 2027, and March 3, 2028.

Remarks:

	William J. White, attoney-in-fact	09/30/2025
	** 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 5 (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.

FAQ

What did Cristina E. Ahn report on the AMBC Form 3?

She reported beneficial ownership of 2,486 restricted stock units (RSUs) granted on March 10, 2025.

When do the RSUs reported by Cristina Ahn vest?

They vest in three equal annual installments on March 10, 2026, March 3, 2027, and March 3, 2028.

What is Cristina Ahn's relationship to Ambac Financial Group (AMBC)?

The form lists her as a Director and as an Officer with the title Chief Accounting Officer.

Does the Form 3 report any derivative securities or other common stock holdings?

No. The form reports only the 2,486 RSUs and does not list other non-derivative or derivative securities.

What are the key dates on the filing?

The event date is 09/29/2025 and the form shows a signature via attorney-in-fact dated 09/30/2025.