1 unchanged sentence
Market Information
−Removed: Since February 3, 2020, the Company 's common stock and warrants have been trading on the NYSE under the symbol “AMBC" and "AMBC WS", respectively.
+Added: Since February 3, 2020, the Company 's common stock and warrants have been trading on the NYSE under the symbols “AMBC" and "AMBC WS", respectively.
Prior to being listed on the NYSE, the Company's common stock and warrants were listed on NASDAQ under the symbols “AMBC” and "AMBCW," respectively.
2 unchanged sentences
Information concerning restrictions on the payment of dividends from Ambac's insurance subsidiaries is set forth in Item 1 above under the caption “Dividend Restrictions, Including Contractual Restrictions" and in Note 9.
−Removed: Insurance Regulatory Restrictions to the Consolidated Financial Statements included in Part II, Item 8 in this Form 10-K.
+Added: Insurance Regulatory Restrictions to the Consolidated Financial Statements included in Part II, Item 8 in this Annual Report on Form 10-K.
Purchases of Equity Securities By the Issuer and Affiliated Purchasers
3 unchanged sentences
In the fourth quarter of 2022, Ambac purchased shares from employees that settled restricted stock units to meet employee tax withholdings.
+Added: On March 29, 2022, our Board of Directors approved a share repurchase program authorizing up to $20 million in share repurchases, with an expiration date of March 31, 2024, which may be terminated at any time.
+Added: From April 1, 2022, through December 31, 2022, AFG repurchased 1,605,316 shares for $14.2 million at an average purchase price of $8.86 per share.
+Added: On May 5, 2022, the Board of Directors authorized an additional $15 million share repurchase bringing the total unused authorized amount to $20.8 million.
+Added: Shares purchased from employees to satisfy withholding taxes, as described above, do not count towards utilization under the Company's share repurchase program.
| Ambac Financial Group, Inc.
25 2022 FORM 10-K
+Added: Table of Contents ,
October 2022 November 2022 December 2022 Fourth Quarter 2022
3 unchanged sentences
Total Number of Shares Purchased as Part of Publicly Announced Plan — — — —
−Removed: Maximum Number of Shares That may Yet be Purchased Under the Plan — — — —
+Added: Maximum Dollar Value That may Yet be Purchased Under the Plan
+Added: $ 21 $ 21 $ 21 $ 21
(1) There were no other repurchase of equity securities made during the three months ended December 31, 2022.
−Removed: Ambac does not have a stock repurchase program.
+Added: Ambac has 4,877,617 warrants outstanding.
Each warrant represents the right to purchase one share of AFG common stock.
−Removed: The warrants are exercisable for cash at any time on or prior to April 30, 2023, at an exercise price of $16.67 per share.
−Removed: The warrants also have a cashless exercise provision.
+Added: The warrants are exercisable at any time on or prior to April 30, 2023, at an exercise price of $16.67 per share.
+Added: The warrants may be exercised for cash or net share settled.
On June 30, 2015, the Board of Directors of AFG authorized the establishment of a warrant repurchase program that permits the repurchase of up to $10 million of warrants.
1 unchanged sentence
The remaining aggregate authorization at December 31, 2022, is $11.9 million.
−Removed: Ambac currently has 4,877,617 warrants outstanding.
Stock Performance Graph
10 unchanged sentences
26 2022 FORM 10-K
−Removed: Selected Financial Data
+Added: Table of Contents ,
+Added: Selected Financial Data — Reserved
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.