SEC Form 4 · accession 0000874501-15-000025
OCTAVE SPECIALTY GROUP INC · OSG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tavakoli Nader
Officer — Interim Chief Exec. Officer · Director
Period of report
Mar 30, 2015
Accepted (ET)
Apr 3, 2015 · 8:53 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000874501
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F1,F2 | — | Mar 30, 2015 | A | 35,000 | A | — | — | Common Stock | 35,000 | 61,463 | D |
| Stock Option (Right to Buy)F3 | $24.55 | Mar 30, 2015 | A | 110,000 | A | Jan 1, 2016 | Mar 30, 2022 | Common Stock | 110,000 | 110,000 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock of Ambac Financial Group, Inc. (the "Company").
- F2The 35,000 RSUs granted on March 30, 2015, shall vest in three equal annual installments on each of January 1, 2016, January 1, 2017, and January 1, 2018, and shall settle and convert into shares of common stock immediately upon vesting.
- F3RSUs and options were granted pursuant to an Award Agreement dated as of March 30, 2015 between the Company and the reporting person.