Item 2. Unregistered Sales of Equity Securities
Item 2. 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 third quarter of 2020. 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 third quarter of 2020, Ambac purchased shares from employees that settled restricted stock units to meet employee tax withholdings.
July 2020 August 2020 September 2020 Third Quarter 2020
Total Shares Purchased (1)
453 — — 453
Average Price Paid Per Share
$ 13.83 $ — $ — $ 13.83
Total Number of Shares Purchased as Part of Publicly Announced Plan (1)
— — — —
Maximum Number of Shares That may Yet be Purchased Under the Plan
— — — —
(1) There were no other repurchases of equity securities made during the three months ended September 30, 2020. Ambac does not have a stock repurchase program.
Item 3. Defaults Upon Senior Securities — No matters require disclosure.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.