OCTAVE SPECIALTY GROUP INC 10-Q

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 On November 12, 2024, Ambac’s Board of Directors authorized a share repurchase program, under which Ambac was authorized to opportunistically repurchase up to $50,000 of the Company’s common shares at management’s discretion over the period ending on December 31, 2026. Additionally, when restricted stock unit awards issued under Ambac's Long Term Incentive Plan vest or settle, they become taxable compensation to employees. Shares withheld to cover the employee's portion of withholding taxes and are included in shares purchased. The following table includes information about the Company's purchases of its common shares during the third quarter of 2025. Jul-2025 Aug-2025 Sep-2025 Third Quarter 2025 Total Shares Purchased — — — — Average Price Paid Per Share $ — $ — $ — $ — Total Number of Shares Purchased as Part of Publicly Announced Plan — — — — Maximum Dollar Value That may Yet be Purchased Under the Plan $ 38,322 The following table shows shares repurchased by year under Ambac's November 12, 2024 share repurchase program. Ambac Financial Group, Inc. 55 Third Quarter 2025 Form 10-Q Table of Contents ($ in thousands, except per share) Year Ended December 31, YTD 2025 2022 2023 2024 Shares repurchased 1,605,316 325,068 937,141 292,191 Total cost $ 14,217 $ 4,510 $ 11,678 $ 3,295 Average purchase price per share $ 8.86 $ 13.88 $ 12.46 $ 11.28 Unused authorization amount $ 38,322 Subsequent to September 30, 2025, Ambac repurchased 3,142,554 number of shares in the open market at an average price of $8.46 under a 10B5-1 program. As of the date of this filing $8,449 of unused capacity remains under Ambac's share repurchase program. Item 3. Defaults Upon Senior Securities — No matters require disclosure.