Ksenak Stephen Michael, Senior Managing Director and General Counsel, has engaged exclusively in selling activity involving shares of Ambac Financial Group (AMBC) since at least March 2024, with no recorded purchases across 32 reported transactions. The transactions, all coded as sales (F), total approximately $503,959 in aggregate value, with the largest single sale occurring on September 29, 2025, for $423,034. Earlier sales were smaller in scale, including $14,288 on March 13, 2025, $18,018 on March 6, 2025, and a cluster of sub-$6,000 transactions in late February and early March 2025. The pattern suggests a consistent divestment strategy, with the September 2025 sale representing a significant liquidity event compared to prior activity.
The filings show no offsetting buys or equity awards (codes A, M) with monetary value during this period, indicating Ksenak has been reducing his position in AMBC without replenishing holdings. The absence of purchases across nearly two years of reporting contrasts with the steady disposition of shares, particularly the outsized September 2025 sale. While the reasons for the sales are undisclosed, the data reflects a clear directional bias toward decreasing exposure to Ambac Financial Group. The transactions occurred at multiple price points, with the most recent activity dwarfing earlier sales in magnitude.
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