Form 4 for OSG OCTAVE SPECIALTY GROUP INC
Accepted 2025-10-01 00:00:00 ET · period of report 2025-09-29 · accession 0001707461-25-000003 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2025-10-01 | 2025-09-29 | OSG | Smith R Sharon | EVP, Chief Strategy Offr | C - Cnv Deriv | $0.00 | +145.1K | 219.8K | +194% | $0 |
| DM | 2025-10-01 | 2025-09-29+ | OSG | Smith R Sharon | EVP, Chief Strategy Offr | F - Tax | $9.64 | -51.7K | 170.9K | -23% | -$498.9K |
| D | 2025-10-01 | 2025-09-30 | OSG | Smith R Sharon | EVP, Chief Strategy Offr | M - OptEx | $0.00 | +2,814 | 173.7K | +2% | $0 |
| D | 2025-10-01 | 2025-09-30 | OSG | Smith R Sharon | EVP, Chief Strategy Offr | A - Grant | $0.00 | +76.6K | 76.6K | New | $0 |
| D | 2025-10-01 | 2025-09-29 | OSG | Smith R Sharon | EVP, Chief Strategy Offr | C - Cnv Deriv | $0.00 | -145.1K | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-09-29 | C | A | 145,135 | $0.00 | 219,842 | D | — | — | (F1) Upon the closing of the sale of Ambac Assurance Corporation by Ambac Financial Group to an entity owned by funds managed by Oaktree Capital Management, L.P., a change of control was triggered causing the Reporting Person's Deferred Share Units ("DSUs") to vest and settle. |
| 2 | Common | Common Stock | 2025-09-30 | F | D | 2,814 | $8.34 | 170,932 | D | — | — | (F4) Represents the aggregate amount of PSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations. |
| 3 | Common | Common Stock | 2025-09-30 | M | A | 2,814 | $0.00 | 173,746 | D | — | — | (F3) On September 30, 2025 the Compensation Committee of the Board of Directors of Ambac Financial Group approved the acceleration of the Reporting Person's 2023 and 2024 Performance Stock Unit awards in connection with the change of control referred to in footnote 1. The reporting person acquired shares of common stock of Ambac Financial Group, Inc. (the "Company") upon the simultaneous vesting and settlement of the reporting person's 2023 and 2024 Long Term Incentive Plan PSU awards. |
| 4 | Common | Common Stock | 2025-09-29 | F | D | 48,910 | $9.72 | 170,932 | D | — | — | (F2) Represents the amount of DSUs that were converted into shares of common stock and withheld by the Company to satisfy certain tax withholding obligations. |
| 5 | Derivative | Deferred Share Units | 2025-09-30 | A | A | 76,627 | $0.00 | 76,627 | D | — · — to — | 76,627 Common Stock | (F5) Each DSU represents a contingent right to receive one share of common stock of the Company. (F6) Represents the aggregate amount of performance stock units ("PSUs") that were converted into an equivalent number of 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 PSU and restricted stock unit awards in accordance with Section 409A of the Internal Revenue Code of 1986, as amended. |
| 6 | Derivative | Deferred Share Units | 2025-09-29 | C | D | 145,135 | $0.00 | 0 | D | — · — to — | 145,135 Common Stock | (F5) Each DSU represents a contingent right to receive one share of common stock of the Company. (F1) Upon the closing of the sale of Ambac Assurance Corporation by Ambac Financial Group to an entity owned by funds managed by Oaktree Capital Management, L.P., a change of control was triggered causing the Reporting Person's Deferred Share Units ("DSUs") to vest and settle. |